Revionics Announces $7M in New Growth Financing
SACRAMENTO, CA, OCTOBER 17, 2007: Revionics, Inc., a leading provider of price optimization software for retailers, today announced the successful completion of a Series B round of investment capital bringing the total funding raised by the company to over $10 million. The Series B financing round was led by Sierra Ventures, a Menlo Park, California based venture capital firm with more than $1.5 billion under management The firm has a strong track record of success during its near 25 year tenure that includes several enterprise software and Software-as-a-Service bellwethers. Revionics will use the new funds to further expand its sales team, accelerate product development and build out its services infrastructure. David Schwab and Vispi Daver of Sierra Ventures will join Revionics board of directors.
Revionics offers proprietary Price and Promotion Optimization technology, empowering retailers with advanced pricing science and analytics designed to leverage consumer demand data. The Revionics offering predicts consumer reaction to anticipated price changes, making optimized price recommendations in alignment with the retailer’s strategies. Offered as an affordable Software-as-a-Service (SaaS) solution, Revionics has seen rapidly growing adoption with retailers seeking profitable growth in the face of increasing competition.
“Sierra Ventures invested in Revionics because we believe that they have a unique approach to delivering advanced price optimization technology to retailers through a Software-as-a-Services deployment model,” said Vispi Daver, Partner at Sierra Ventures, “Revionics offers an innovative combination of retail pricing science and technology that differentiates their service from the traditional pricing software providers. We also believe that Revionics has a very strong management team with relevant industry experience, and focused on delivering compelling results. ”
“Our recent growth and market momentum is testimony to the retailer demand for advanced pricing software that is scalable, easy to use, and delivers powerful results,” said Todd P. Michaud, President and CEO of Revionics, “Our partnership with Sierra Ventures will launch a very exciting era for our organization, as we invest more in our people, solutions, and customer relationships positioning us for leadership in the marketplace.” “We’re proud to have attracted a top tier Silicon Valley venture capital firm to help us build the company,” added Michaud.
About Revionics, Inc.
Revionics is a leading provider of price, promotion and category optimization technology for Fast Moving Consumer Goods Retailers. The Revionics Advanced Pricing System (RAPS) generates increased sales and profits through sophisticated consumer demand intelligence and proprietary retail pricing science. The Revionics offering is available to retailers as a Software-as-a-Service (SaaS) subscription offering over the Internet. For more information please visit www.revionics.com.
About Sierra Ventures
« More News
Sierra Ventures, founded in 1982, is a privately held venture capital firm focused on investments across all areas of the Information Technology sector from semiconductors to enterprise software. Sierra Ventures has managed nine venture capital partnerships and currently has more than $1.5 billion of capital under management. Some of the firm’s investments include 360Commerce (acquired by Oracle), Active Software (acquired by WebMethods), AmeriGroup (AGP), Centex (acquired by WorldCom), ConvergeNet (acquired by Dell), FatBrain (acquired by Barnes & Noble), Frontbridge (acquired by Microsoft), Healtheon (merged with WebMD), Interact Commerce (acquired by Sage), Intuit (INTU), Micromuse (acquired by IBM), OnAssignment (ASGN), OnLink (acquired by Siebel), Quinta (acquired by Seagate), StrataCom (acquired by Cisco), Sourcefire (FIRE), Sychip (acquired by Murata Manufacturing) and Teradata (acquired by NCR). More information is available at www.sierraventures.com.