Pricefx Reports Historic Revenue in 2023 Based on 40% Annual Growth
Closing three of the largest deals in company history, award-winning AI-powered capabilities, and exceptional partner engagement in 2023 drove stellar results for the company
MUNICH & CHICAGO–(BUSINESS WIRE)–#SaaS—Pricefx, the global leader in cloud-native pricing software, announced it achieved record revenue in 2023 with four consistently strong quarters throughout the year. The company reported a 40% annual growth rate and closed three of the largest deals in company history, while the average annual recurring revenue (ARR) per new customer increased by 83% year-over-year, and 27 new customers were added to the Pricefx roster.
The Advantage Pricefx partner ecosystem grew substantially, with partners engaged in a significant number of new customer deals in 2023. The amount of jointly closed deals with SAP grew exceptionally as well, with 142% increase in closed ARR over the previous year of the relationship. Once again included in CRN’s 2023 Partner Program Guide, the company continued to build its strong SI relationships with industry leaders PwC and Deloitte and cemented a formal partnership with Enable to bring industry-leading rebate management and collaboration tools to its enterprise-grade pricing platform.
In 2023, Pricefx appointed Matt Brown to Chief Revenue Officer and David Moss to Chief Customer Officer, helping to deliver the strongest year in company history and the largest new business wins to date. The company announced two major product updates in 2023: Bee’s Knees v10, which included AI-powered price list impact simulation, and Paper Plane v11, which improved optimization use cases, introduced actionable insights that identify business opportunities and risks, and visual configuration to design price strategies and approval workflows without coding.
Once again, Pricefx won several industry awards for its AI technology and overall product innovation. The company was the gold winner in the Merit Technology Awards in the AI for Business Intelligence and Analytics category, won the Stratus Awards for Cloud Computing in the Artificial Intelligence category and was named “Best Price Optimization Solution” by the Martech Breakthrough Awards for the second consecutive year.
Pricefx continues to be honored by the Stevie® Sales and Customer Service Awards with a Silver Stevie for Technology Partner of the Year, the 20th Annual International Business Awards® with a Silver Stevie for Business or Competitive Intelligence Solution, and the 21st Annual American Business Awards® with a Bronze Stevie for Business or Competitive Intelligence Solution. The company was also a finalist for New Product of the Year in the BIG Awards for Business.
G2 named Pricefx Best Estimated ROI in Fall 2023 and an Enterprise Leader for all four quarters. Forrester included Pricefx in its “Pricing Optimization Solution Landscape, Q3 2023” report, which provides an overview of the top pricing software vendors.
“In 2023, Pricefx continued to focus on the power of AI, innovation and collaboration, allowing us to reach new heights in growth and impact,” said Ronak Sheth, Chief Executive Officer for Pricefx. “Pricefx continues to outpace the industry in both revenue and customer growth. Through powerful partnerships, groundbreaking product advancements, and our world-class team we empower companies to unlock a new era of pricing agility, leading to outsized value, efficiency, and profitable growth. Our entire leadership team is energized by the possibilities ahead in 2024.”
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About Pricefx
Pricefx is the global leader in SaaS and AI pricing software, offering a comprehensive suite of solutions that are fast to implement, flexible to configure and customize, and friendly to learn and use. Based on cloud-native architecture, Pricefx delivers a complete AI price optimization and management platform that provides the industry’s fastest time-to-value and highest ROI in the industry. Its award-winning innovative solution is focused on high impact results for large enterprise B2B companies in Manufacturing, Distribution, and Process Engineering and select other verticals. Pricefx’s business model is entirely based on the satisfaction and loyalty of its customers. For enterprises facing pricing challenges, Pricefx is the cloud pricing optimization, management, and CPQ platform to dynamically Plan, Price and Profit. For more information, please visit www.pricefx.com.
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