BOSTON and DUBLIN, 18 January 2018. Profitero today announced its key milestones for 2017. Overall, the company reported a 137% year-over-year increase in annual-recurring revenue for its CPG e-commerce analytics business, as more brands looked to combine their tracking of online sales and digital shelf performance in one integrated platform.
Using sophisticated e-commerce data collection and proprietary machine learning technologies, Profitero allows brands to competitively benchmark key areas of the digital shelf, such as product content, search ranking and pricing and promotions, for almost any online retailer in the world. The company is also the first and only to provide integrated analytics that correlate Amazon sales and category share changes to specific performance changes on the digital shelf.
In 2017, 40 new brands subscribed to Profitero’s platform, a 113% boost versus the prior year, with new customers including Maxxium, Barilla, Coty and Affinity in Europe and Del Monte in North America. The company also signed new customers in China and Japan. Meanwhile, existing customer revenue grew by 36% through upsells and cross-sells.
“Our customers are the only ones who can see a cause and effect relation between their sales and digital shelf performance. As a result, they can much more effectively and efficiently identify the right areas to optimize in order to grow sales faster,” said Vol Pigrukh, co-founder and CEO of Profitero. “Profitero’s financial growth is proof that there is higher demand than ever for actionable e-commerce analytics tools that tie sales and digital shelf performance together.”
“Understanding our sales and share performance with a retailer as significant as Amazon is critically important to our growth,” said Jordi Llena, Digital Sales Manager, Affinity Petcare. “We chose Profitero because of its unique ability to not only tell us what’s happening with our sales, but why it’s happening - and what specific actions will grow sales faster.”
2017 was a big year in other ways for Profitero. The company:
Launched its Amazon Analytics Free Trial, the industry's first "try before you buy" offering. With the free trial, brands can evaluate their Amazon sales and share and optimize performance using Profitero’s full suite of digital shelf analytics.
Grew its employees by 50%, most notably adding a local client team in China and expanding its customer success and data quality teams.
Invested substantially in its data science methodologies used to accurately and automatically categorize data and match products and images across different retailer websites. As a result of these investments, Profitero scaled its accurate data collection to include more than 8,000 retailer sites (including web sites, locations and mobile apps) across 50 markets.
“Profitero has uniquely built all data science technologies and methodologies in-house. This allows us to provide customers with an uninterrupted, daily flow of accurate e-commerce performance data, whereas many others can only do it weekly. It’s also allowed us to innovate much faster than other companies in the market, as demonstrated by our Amazon Analytics Free Trial,” added Dmitry Vysotski, co-founder and CTO of Profitero. “In 2018, we’ll invest in new artificial intelligence and modeling techniques that will enable an even more powerful suite of e-commerce causal analytics for brands.”
Profitero helps brands grow their online sales faster. With our solution, brands can benchmark their complete digital shelf performance against any competitor, across any global retailer site or mobile app, in real-time. Only Profitero can link digital shelf performance to increases in sales and market share, allowing brands to achieve better focus and ROI from their optimization. Many of the world’s leading brand manufacturers and retailers depend on Profitero’s granular and highly-accurate data to measure and improve their e-commerce performance. These include Barilla, General Mills, L’Oreal, Beiersdorf, Del Monte, Sam’s Club, Waitrose, Ocado, and Delhaize.