MUNICH & CHICAGO--(BUSINESS WIRE)--Pricefx, the global leader in cloud-native pricing software, today reported achieved remarkable growth in 2024, marked by a 38% increase in annual subscription revenue and its strongest revenue quarter to date. The company’s success was driven by its pioneering AI innovations, strategic partnerships, and unwavering commitment to customer success.
“Throughout 2024, we demonstrated our leadership in the pricing industry by empowering businesses to harness the transformative potential of AI to achieve their pricing goals,” said Ronak Sheth, Chief Executive Officer of Pricefx. “Customers choose Pricefx because we deliver groundbreaking product advancements that drive rapid ROI and sustainable long-term value. With powerful partnerships and our innovative use of cutting-edge AI, we empower companies to unlock unparalleled levels of pricing agility and achieve profitable growth.”
The company’s AI innovation strategy gained significant momentum in 2024 with the launch of PricingAI by Pricefx, a comprehensive AI toolset, productized pricing science, and “bring-your-own-science” capabilities. The company also released two major product updates: Clover Club v12, which brought major enhancements to Actionable Insights, Negotiation Guidance, and Product Recommendations, and Rampur v13, which introduced a new productized offering for List Price Optimization to help customers improve margins and make better data-driven decisions at scale.
To further strengthen its AI leadership, Pricefx welcomed technology veteran Suzanne Valentine to lead the PricingAI by Pricefx initiative. Valentine brings over 25 years of experience, most recently serving as Head of Business Data Science at Meta, where she led global teams focused on leveraging data and AI to set strategy for and measure the effectiveness of efforts to drive use of Meta’s advertising products.
The company’s commitment to excellence was validated by numerous industry accolades, including:
- Artificial Intelligence Excellence Award winner in the Generative AI category
- 2024 American Business Awards gold winner for Business or Competitive Intelligence Solution
- 2024 Stevie Awards for Sales & Customer Service silver winner for Business Intelligence Solution - new version
- 2024 International Stevie Awards gold winner for Business or Competitive Intelligence Solution and bronze winner for Artificial Intelligence/Machine Learning Solution
- Martech Breakthrough Awards winner of the “Best Price Optimization Solution” for the third consecutive year
- Globee Awards for Leadership named Ronak Sheth the silver winner for CEO of the Year
Customer success remained at the forefront, with 35 successful global customer implementations across discrete manufacturing, process industries, and distribution. The company maintained an impressive 97.4% customer retention rate, underlining its commitment to delivering lasting value to its clients.
The Advantage Pricefx ecosystem continued to drive revenue growth through strategic partnerships with industry leaders such as Accenture, Deloitte, SAP, and PwC. Over 90% of new implementations were delivered through advanced system integrator partners. Additionally, Pricefx strengthened its integration with Enable to offer the world’s most comprehensive end-to-end pricing and rebate platform.
SAP honored Pricefx with a 2024 SAP® Pinnacle Award in the SAP Store category for showing significant success in developing and showcasing an innovative solution through SAP Store, while successfully deploying and delivering it to customers at scale with demonstrated customer impact. Out of more than 24,000 SAP partners, Pricefx was one of 16 companies to win an SAP Pinnacle Award across 26 award categories. The company was also named a finalist in the AI Partner Innovation category. This is the fourth year Pricefx has been recognized in the SAP Pinnacle Awards and the second win for the SAP Store category.
Pricefx was once again included in CRN’s 2024 Partner Program Guide and Jacob Childerson, Pricefx’s Vice President of Partners & Alliances, was named a 2024 Channel Chief as the company continued to build its strong SI relationships.
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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.
