Boomerang Swings In $12M For Price Optimization Platform

Pricing optimization isn’t going to pay for itself, so $12 million ought to help Boomerang Commerce in that department.

The retail solutions-focused startup announced yesterday (Jan. 14) that it has brought in that sum in a Series B round led by Shasta Ventures, with significant participation from existing backers Madrona Venture Group and Trinity Ventures.

A press release states that the influx of financing will allow Boomerang to further build out its product offerings, including price optimization, intelligence-based recommendations and assortment optimization. Boomerang attests to have achieved a 400 percent increase in its customer base, which includes Groupon, Office Depot, Staples and U.S. Auto Parts, in 2015.

“Boomerang Commerce is a technology partner to modern retailers. We help them hone in on core competencies and win the markets they see as critical to their success, while also aiding them in decisions on where to scale up and scale down,” stated Boomerang CEO Guru Hariharan in the release. “Our goal is to give our customers an unfair advantage that leads them to victory in the modern retail world.”

The press release goes on to point out that Boomerang counts nine of Internet Retailer’s top 50 companies among its customers and that the Boomerang Commerce Retail Solutions Suite currently guides more than 15 million pricing decisions per day, representing a 500 percent growth rate since May of last year.

“Amazon has set the bar very high. To survive, every retailer needs to find new strategies to compete against Amazon. Old techniques are not going to work. Boomerang Commerce has built breakthrough technology that gives its customers amazing ROI,” Sean Flynn, a general partner with Shasta Ventures, stated in the release. “Boomerang’s vision for data-driven retailing and its fast execution made our decision to invest in Hariharan and his team very easy.”