Freshplum Raises $1.4 Million In Seed Funding
Freshplum is an e-commerce revenue analytics company that has raised $1.4 million in seed funding. This round of funding was led by New Enterprise Associates with participation from Greylock Partners, Google Ventures, and Charles River Ventures. Freshplum’s service is used to help drive the sales decisions for e-commerce companies. These companies can decide the optimal prices of their products by analyzing the statistics calculated by Freshplum.
“Selling goods and services online continues to be more art than science,” stated Freshplum founder Sam Odio in an interview with VentureBeat. “Eighty-two percent of the companies we talk to price their products on a ‘hunch’ because they lack the tools necessary to dive deep into the data. Freshplum solves this problem by providing those tools that eliminate the guesswork behind pricing and other sales decisions.”
Freshplum was part of the Y Combinator class in summer 2011. This was Odio’s second time being in Y Combinator. In 2009, Odio launched photo sharing startup Divvyshot. Divvyshot was acquired by Facebook and Odio was brought in to the social networking company along with co-founders Nick Alexander and Michael Yuan. The three are now working together again on Freshplum.
Freshplum is currently in alpha mode and they are accepting early customers. Freshplum is based in Palo Alto, California and they are serving 10 million API requests per day.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry