Pricing optimization company Revenue Analytics has raised an $11 million Series A led by Noro-Moseley Partners with participation from Blue Lagoon Capital. This is the first institutional capital for the 15-year-old company, which recently pivoted from a human-based consulting solution to a software service.
The Atlanta-based Revenue Analytics blends human expertise with AI to help enterprises make predictive pricing decisions. The solution combines a machine learning-powered SaaS platform and a people-based Managed Analytics Service.
They advise companies on factors like dynamic product pricing and promotional campaigns to help them maximize revenue, and serve clients across a wide range of industries including auto, consumer and industrial products, cruises, hospitality, media, and service retail.
The company was founded in 2005 by Chairman Rob Cross and his two sons, CEO Dax Cross and President Zach Cross. The elder Cross formerly founded Talus Solutions, another revenue intelligence company who served clients like Delta Air Lines, Ford Motor Company, and UPS.
In 2016, Revenue Analytics pivoted to scale its offering into the current cloud-based software solution.
Alan Taetle, General Partner at Noro-Moseley, tells Hypepotamus he was impressed by this move from an on-premise service to a cloud-based one.
“If you booked a business trip or vacation anytime in the past decade, odds are that the price you paid was the result of a Revenue Analytics algorithm,” Taetle said in a statement.
In addition to product development, the Series A will go toward a hiring spree that projects adding 50 employees to the current team of 100. The roles will span the sales, marketing and product development teams.
