- Boomerang Commerce, a two-year-old startup specializing in pricing technology, has raised an $8.9 million Series A round in the first time the company has ever taken outside funding.
- The company specializes in pricing for large e-commerce retailers, using a variety of criteria including competing prices, revenue, profit, and sales volume.
- Boomerang hopes to use this new funding to expand its engineering team and build additional retail applications into its platform.
Boomerang's CEO Guru Hariharan previously worked at Amazon, an experience that may provide his company a competitive advantage in the retail pricing game. The company seems to be trying to emulate Amazon's pricing tactics, with a focus on a product's cost in relation to the retailer's overall outlook.
Rather than just pricing to match competitor's costs, Boomerang takes a more perspective approach to the process. Current customers include Staples, Sears, and Groupon Goods; we'll be keeping an eye on these e-commerce sites to see if this pricing strategy works.