Press release
PriceShape Partners with Copilot Capital
In a funding worth a higher 8-digit amount in Euros/USD, fast-growing Danish SAAS-company PriceShape has teamed up with the tech-focused, London-based private equity firm Copilot Capital.
- The funding is poised to further strengthen PriceShape as a market leader in retail pricing with its pricing robots. The funding will lead to an increased focus on improving the current service, optimizing the use of AI, and potential acquisitions.
- The two founders will continue as co-CEOs and as significant shareholders.
12/9-2024, AARHUS, DENMARK: With a robust funding from the UK private equity firm Copilot Capital, the fast-growing Danish tech scale-up PriceShape is ready for another great leap as the leading edge of dynamic pricing in global digital retail. The funding will accelerate PriceShape’s quest of revolutionizing pricing in digital retail for the good of both global brands and the consumers.
By developing a software tool and a price robot that gives retailers the ability to customize pricing and secure profitability as well as competitive prices, PriceShape are poised to change the market for retailer products in the same way as commercial flights or hotels underwent more than a decade ago: Supply and demand are the real time denominator of the price at consumer level.
Hundreds of leading global brands have adopted PriceShape’s robots as their pricing engines, and the company’s dynamic pricing solutions has driven a revolutionary cultural change in online-shopping and created a whole new mindset around price formation in hundreds of thousands of online-shops worldwide.
Founded in 2018, PriceShape has not yet received any external funding. After six years of bootstrapping, the company is thrilled to announce its strategic partnership with Copilot Capital. This collaboration aims to solidify PriceShape’s clear technology-edge in AI and automatization as the global leader in pricing and retail optimization. The funding also makes it possible for PriceShape to acquire other companies with a matching focus.
“We are very excited about this deal that will make it possible for us to achieve market leadership. We are already the drivers of a fundamental change of the retail market. Actually, it has changed for good. Now, we will accelerate. Through the past six years, we have declined several funding possibilities – but we truly believe that the timing and partner is perfect. Copilot has been equally professional and excited about our work at PriceShape and what we can offer leading global brands,” co-CEO of PriceShape Frederik Christiansen says.
“With the funding, we are poised for future growth, and we truly believe that we can become the next Scandinavian unicorn, while we transform the market for pricing in the digital retail industry,” he says.
For Copilot Capital the potential of the young company has not gone unnoticed:
"We were incredibly impressed by PriceShape’s trajectory and the way they have run their business," said John Messer, Managing Partner at Copilot Capital. "The founders have built an exceptional system that turns raw data into valuable, actionable insights. It’s not just about scraping millions of websites - what makes them stand out is how they enable their clients to act on the data easily. We truly believe in their vision and want to go on this journey with them."
Classic startup roots
From humble beginnings in 2018, when founders and current CEO’s Kasper Rittig Strand and Frederik Christiansen worked out of Kasper’s basement, PriceShape has grown exponentially. From the beginning where the first collaborations were set up as a free beta-service to a full SAAS-company with market presence in 23 countries – mainly in Europe and North America.
Today, the company with close to 100 employees serves around 600 of the world’s largest retail companies such as Grohe, Samsung, Bosch and Intersport. They have done so as a full bootstrapping company without external capital and by offering the product in the early stages for free, building up a circle of stable customers among the world’s largest brands.
Dynamic Pricing for the Retail Sector
Dynamic pricing, commonly used in industries like aviation and hospitality, is now making its way into retail. As consumers increasingly rely on platforms like Google to compare deals from various resellers, retailers and e-commerce businesses must adopt automated, data-driven pricing strategies. PriceShape is at the forefront of this transformation, helping leading retailers implement dynamic pricing to stay competitive without selling out on profitability by launching unsustainable price levels.
About PriceShape
PriceShape is a Danish software company specializing in pricing and retail optimization. Founded in 2018, the company has quickly become a trusted partner for some of the world’s largest retail companies. PriceShape’s mission is to leverage data and technology to help retailers optimize their pricing strategies and improve their competitiveness in a rapidly changing market. The company is headquartered in Aarhus, Jutland, in a multinational workplace consisting of 12 different nationalities.
About Copilot Capital
Copilot Capital is a lower mid-market buyout fund dedicated to growing the next generation of European software and data champions. We strategically partner with companies generating €5-€15 million in annual recurring revenue (ARR), guiding them on a path to €50 million ARR and beyond.
At Copilot Capital, we employ proven, repeatable strategies designed to accelerate the growth of market leading products. Our active approach embraces calculated risk-taking and aims for excellence.
Copilot Capital is based in London. Find out more here: www.copilotcptl.com
For more information, please contact:
Advisor Joacim Præst Nielsen
jpn@ulvemanborsting.com