Pricefx closes 2021 with the best quarter in company history

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25+ deals closed in Q4 and 45% year-over-year growth in 2021

Built In Chicago’s Best Workplaces list includes Pricefx for the second year in a row

MUNICH & CHICAGO, January 18, 2022–(BUSINESS WIRE)–pricefx, the global leader in cloud pricing software, today announced that it closed the best quarter in company history due to strong customer and partner buy-in in 2021. With 26 deals closed in the fourth quarter of 2021 and 34 new enterprise customers added in 2021, the company ended the year with annual recurring revenue (ARR) growth of 45% year over year. Key new customers include American Tire Distributors, Extreme Networks, KeHe Distributors and Tamko Building Products. Additionally, Pricefx recorded 95% customer retention and closed 23 customer expansion deals.

In 2021, Pricefx increased revenue growth with SAP by 140% over 2020. Pricefx Advantage Partner Program continued to drive strong ROI in 2021 with at least one partner engaged on 70% of new customers signed via co-selling, influencing and/or implementing the Pricefx solution. Several global systems integrators, such as German member firm KPMG, have joined the Pricefx ecosystem, broadening the company’s reach and deepening its pricing expertise.

To support this growth, the company expanded its ranks by 11% in 2021, adding several key hires during the year. Ronak Sheth joined the company in May as president and chief revenue officer. Toby Davidson was named chief product and technology officer in January, leading the development of several new product features throughout the year. In January, Pricefx partnered with Bain & Company to launch PricefxPlasma™, the industry’s first big data-based benchmarking platform. To meet the growing demand for AI-powered revenue growth, Pricefx has launched the first AI-powered market simulation resolution in April. Pricefx has also streamlined its product offering around three main packages Plan, Price and profit, featured on the company’s recently updated website.

Pricefx also brought Doug Fuehne on board as Senior Vice President to lead the newly formed Pricefx Impact team. With over two decades of experience in pricing and software, Fuehne joined Pricefx from Amazon where he was head of global practice, manufacturing and supply chain for Amazon Web Services (AWS) and led the creation of the AWS digital supply chain transformation methodology. Previously, he was the Customer Success Manager for Commercial Industries at Amazon Business, where he led the ProServe implementation team for Amazon’s B2B distribution division. The Impact team works across the entire client lifecycle to help clients identify the best solutions specific to their industry and strategic goals, understand and measure the value delivered, and increase the value gained from Pricefx over time.

“Supply chain issues, fluctuating prices and inflationary pressures in nearly every industry have forced companies to find ways to adapt to a volatile market,” Sheth said. “Pricefx has been able to help companies meet these challenges and maintain its leadership position in the surging market for pricing optimization. Our industry-leading pricing solutions, our ability to create a personalized plan for customers to achieve profitable growth in record time and our relentless focus on customer satisfaction has led to a record year for the business, including new customer acquisition and continued expansion in existing accounts.”

Pricefx was named Chicago’s Best Mid-Sized Companies to Work For by Built In for the second year in a row. The company was also a SAP® Pinnacle Award finalist for the second consecutive year; this year in the Partner of the Year – Apps Approved Category. Continuing the back-to-back streak, Pricefx was named Product of the Year in 2021 Sales and Marketing Technology Awards program, also known as The Sammys. The company also received Gold GLOBEE® for Configure Price Quote (CPQ) in the 2021 IT World Awards® and honored with a Silver Stevie® Award in the Manufacturing Business Technology category of the 2021 American Business Awards®. The Global Business Tech Awards named Pricefx to its shortlist for Best SaaS Company of the Year and the SaaS rewards Pricefx shortlisted in two categories.

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About Pricefx

Pricefx is the global leader in SaaS pricing software, offering a full suite of solutions that are quick to implement, flexible to configure and customize, and easy to learn and use. Built on a cloud-native architecture, Pricefx provides a comprehensive price optimization and management platform that delivers the industry’s fastest time to value and lowest total cost of ownership. Its innovative solution works for B2B and B2C companies of all sizes, in all industries, anywhere in the world. Pricefx’s business model is entirely based on the satisfaction and loyalty of its customers. For businesses facing pricing challenges, Pricefx is the cloud-based pricing optimization, management, and CPQ platform to dynamically plan, assess, and profit.

For more information, please visit www.pricefx.com.

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See the source version on businesswire.com: https://www.businesswire.com/news/home/20220118005430/en/

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Media:
Cathy Summers
Summer Public Relations
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+1 (415) 483-0480

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