The funds were raised from Flyer One Ventures, as well as Kirat Anand, head of the pricing strategy of the American supermarket chain Walmart and also a new strategic consultant at Competera. The company did not disclose the detailed terms of the deal. However, it is reported that by the end of 2022 they expect it to receive an estimate of $100 million.
The team will spend the raised funds to enter the US market and speed up the company's development.
Competera is a Ukrainian software development company offering a comprehensive pricing platform for large retailers worldwide. The service switches retailers to proactive pricing for all products, regardless of the sales channel. Competera cloud platform helps to establish and maintain optimal prices in retail chains. That's why a company analyzes a brand perception, individual business rules of a retailer, demand structure, mutual influence of goods and over 20 other factors.
The company began work in 2014, its founders are Olexandr Halkin and Olexandr Sazonov. The company currently has over 100 clients in 29 countries such as the USA, Great Britain, Kazakhstan, Indonesia, Latvia, Germany, Australia and many others. Also, the company works with very large companies as OBI, Staples, MyToys, Citrus, Media Markt, Watsons, Acer, Panasonic and Lego. Their focus is to be a global enterprise.
Besides Ukraine, where the development is concentrated, Competera has offices in the UK, USA and Singapore.
Competera is a solution that can improve retail efficiency and make prices more optimal for both buyers and sellers.