According to a new article, "Upstream Commerce, which develops pricing and assortment intelligence solutions for retailers, today announced that the company has secured $3 million in funding. The proceeds will be used to further expand the company's pricing intelligence solutions. The investment was raised from YL Ventures, Bright Capital, and private investors. Upstream Commerce's pricing intelligence solution is a cloud-based service using advanced artificial intelligence, semantic analysis and data-mining technology that enables retailers to compete more effectively, increase sales and grow profit margins using 24/7 comprehensive competitor pricing and assortment tracking and analytics."
The article continues, "Upstream Commerce CEO Amos Peleg said, 'We will use the funding to further develop our core technology and product as well as expand our solution to provide critical intelligence-gathering capabilities that go beyond pricing and assortment intelligence. We will strengthen our big data analytics, as well as recommendation and prediction capabilities of the system, to provide our customers with actionable real-time data'."
Image: Courtesy Upstream Commerce