Here’s the pitch deck cloud startup Pricefx used to raise $65 million for an AI platform that helps businesses set prices faster and more precisely

Pricefx CEO Marcin Cichon

Pricefx CEO Marcin Cichion said the AI-powered platform saw a spike in demand for its technology which helps businesses set prices faster and with more precision due to the coronavirus crisis.
Two weeks ago, the startup, which is based in Chicago, Prague and Munich, raised $65 million from investors, including Apax Digital, boosting its total funding to $131 million.
“We’re enabling people with our software to be reactive and to be proactive and really make sure that they can operate in this crazy environment that we have today,” Cichon told Business Insider.
Click here for more BI Prime stories.

The ability for a business to set prices fast and with more precision has been made easier with technology over the past decade.

Pricefx, which launched in 2011, has made it even more convenient for businesses to use so-called price optimization technology with an AI-powered cloud platform.

Two weeks ago, the startup, whose main offices are in Chicago, Munich and Prague, raised $65 million in a Series C round led Apax Digital. Pricefx has raised a total of $131 million in venture capital financing.

CEO and cofounder Marcin Cichon said raising capital in the middle of a pandemic was challenging.

“It was definitely hard,” he told Business Insider. “We started our fundraising at the start of the shutdown. We were really thinking a lot about: should we pause it?”

He said some investors with whom they had begun conversations “got disengaged” and told them: “‘Sorry, we have so much stress right now and we’re looking after our existing portfolio companies and making sure they all survive.'”

But Cichon said he and his team decided to push on because “we saw such an increase in demand for pricing applications” due to the disruption caused by the coronavirus crisis.

Businesses were looking for tools that could help them adapt quickly to what became unstable and unpredictable markets.

“Your supply chain works differently than in a stable economy,” Cichon said. “Your operations work differently. Your margins are completely out of whack right.”

He said the Pricefx platform helps businesses react quickly to the changes, including the sales and pricing moves of competitors.

“We’re enabling people with our software to be reactive and to be proactive and really make sure that they can operate in this crazy environment that we have today,” he said.

“We’re actually using the crisis as a stepping stone for the evolution of the company,” Cichon said.

Here’s the pitch deck Pricefx used to raise $65 …read more

Source:: Business Insider

      

Here’s the pitch deck cloud startup Pricefx used to raise $65 million for an AI platform that helps businesses set prices faster and more precisely

Pricefx CEO Marcin Cichon

Pricefx CEO Marcin Cichion said the AI-powered platform saw a spike in demand for its technology which helps businesses set prices faster and with more precision due to the coronavirus crisis.
Two weeks ago, the startup, which is based in Chicago, Prague and Munich, raised $65 million from investors, including Apax Digital, boosting its total funding to $131 million.
“We’re enabling people with our software to be reactive and to be proactive and really make sure that they can operate in this crazy environment that we have today,” Cichon told Business Insider.
Click here for more BI Prime stories.

The ability for a business to set prices fast and with more precision has been made easier with technology over the past decade.

Pricefx, which launched in 2011, has made it even more convenient for businesses to use so-called price optimization technology with an AI-powered cloud platform.

Two weeks ago, the startup, whose main offices are in Chicago, Munich and Prague, raised $65 million in a Series C round led Apax Digital. Pricefx has raised a total of $131 million in venture capital financing.

CEO and cofounder Marcin Cichon said raising capital in the middle of a pandemic was challenging.

“It was definitely hard,” he told Business Insider. “We started our fundraising at the start of the shutdown. We were really thinking a lot about: should we pause it?”

He said some investors with whom they had begun conversations “got disengaged” and told them: “‘Sorry, we have so much stress right now and we’re looking after our existing portfolio companies and making sure they all survive.'”

But Cichon said he and his team decided to push on because “we saw such an increase in demand for pricing applications” due to the disruption caused by the coronavirus crisis.

Businesses were looking for tools that could help them adapt quickly to what became unstable and unpredictable markets.

“Your supply chain works differently than in a stable economy,” Cichon said. “Your operations work differently. Your margins are completely out of whack right.”

He said the Pricefx platform helps businesses react quickly to the changes, including the sales and pricing moves of competitors.

“We’re enabling people with our software to be reactive and to be proactive and really make sure that they can operate in this crazy environment that we have today,” he said.

“We’re actually using the crisis as a stepping stone for the evolution of the company,” Cichon said.

Here’s the pitch deck Pricefx used to raise $65 …read more

Source:: Business Insider

      

Putin’s ambassador to the UK says the relationship between Britain and Russia is ‘close to frozen’ and warns that Moscow is ‘not in a hurry’ to improve relations

Russian President Vladimir Putin takes part in a a video conference call with members of the working group on amendments to the Russian constitution at the Novo-Ogaryovo residence, outside Moscow, Russia July 3, 2020. Sputnik/Alexei Druzhinin/Kremlin via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.

Relations between London and Moscow are “close to frozen,” Russia’s ambassador in London has said.
Ambassador Andrei Kelin denied that Russia was waging a cyber-hacking campaign against the UK after it was accused of stealing coronavirus research from labs around the world.
“I feel that Britain exaggerates, very much, its place in Russian thinking,” Yelin said.
A report by the UK’s Intelligence and Security Committee in July claimed that Putin’s government has been engaged in “hostile foreign interference” against the UK and other powers.
Visit Business Insider’s homepage for more stories.

Russia’s ambassador to the UK has warned that relations between London and Moscow are “close to frozen” and that the Kremlin is “not in a hurry” to improve its ties with Britain.

Andrei Kelin, who Vladimir Putin appointed as his ambassador to the UK last year, denied recent allegations that Russia had sought to interfere in British elections, accusing Britain of exaggerating “very much.”

In an interview with the Daily Mail newspaper, Kelin denied that Russia was waging a cyber-hacking campaign against the UK and had recently tried to steal coronavirus research from labs in the UK and elsewhere in the world.

The UK government last month said that Russian hackers who were “almost certainly” working for the country’s intelligence services had targeted coronavirus vaccine research facilities in the UK, US, and Canada.

Yelin also said he had “no idea” about an alleged incident in which Russian actors were said to have hacked the emails of Liam Fox, a former UK Cabinet minister, in an attempt to influence last year’s general election.

“I have no idea about the incident. These accusations are invented, if not to say false.

“These are senseless accusations which we do not understand,” the ambassador said.

“I feel that Britain exaggerates, very much, its place in Russian thinking,” Yelin said. “The scope and place of Great Britain in Russian politics is not that big. We have other problems of much larger magnitude.”

A report by the UK’s influential Intelligence and Security Committee in July claimed that Putin’s government had been engaged in “hostile foreign interference” against the UK and other powers, and said Russian influence in the UK’s networks of power was “the new normal.”

The highly-anticipated report by UK members of Parliament, based on evidence supplied by spies and intelligence experts, said “there are a lot of Russians with very close links to Putin who are well integrated …read more

Source:: Business Insider

      

Putin’s ambassador to the UK says the relationship between Britain and Russia is ‘close to frozen’ and warns that Moscow is ‘not in a hurry’ to improve relations

Russian President Vladimir Putin takes part in a a video conference call with members of the working group on amendments to the Russian constitution at the Novo-Ogaryovo residence, outside Moscow, Russia July 3, 2020. Sputnik/Alexei Druzhinin/Kremlin via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.

Relations between London and Moscow are “close to frozen,” Russia’s ambassador in London has said.
Ambassador Andrei Kelin denied that Russia was waging a cyber-hacking campaign against the UK after it was accused of stealing coronavirus research from labs around the world.
“I feel that Britain exaggerates, very much, its place in Russian thinking,” Yelin said.
A report by the UK’s Intelligence and Security Committee in July claimed that Putin’s government has been engaged in “hostile foreign interference” against the UK and other powers.
Visit Business Insider’s homepage for more stories.

Russia’s ambassador to the UK has warned that relations between London and Moscow are “close to frozen” and that the Kremlin is “not in a hurry” to improve its ties with Britain.

Andrei Kelin, who Vladimir Putin appointed as his ambassador to the UK last year, denied recent allegations that Russia had sought to interfere in British elections, accusing Britain of exaggerating “very much.”

In an interview with the Daily Mail newspaper, Kelin denied that Russia was waging a cyber-hacking campaign against the UK and had recently tried to steal coronavirus research from labs in the UK and elsewhere in the world.

The UK government last month said that Russian hackers who were “almost certainly” working for the country’s intelligence services had targeted coronavirus vaccine research facilities in the UK, US, and Canada.

Yelin also said he had “no idea” about an alleged incident in which Russian actors were said to have hacked the emails of Liam Fox, a former UK Cabinet minister, in an attempt to influence last year’s general election.

“I have no idea about the incident. These accusations are invented, if not to say false.

“These are senseless accusations which we do not understand,” the ambassador said.

“I feel that Britain exaggerates, very much, its place in Russian thinking,” Yelin said. “The scope and place of Great Britain in Russian politics is not that big. We have other problems of much larger magnitude.”

A report by the UK’s influential Intelligence and Security Committee in July claimed that Putin’s government had been engaged in “hostile foreign interference” against the UK and other powers, and said Russian influence in the UK’s networks of power was “the new normal.”

The highly-anticipated report by UK members of Parliament, based on evidence supplied by spies and intelligence experts, said “there are a lot of Russians with very close links to Putin who are well integrated …read more

Source:: Business Insider