Pricefx Accelerates Growth in 2022 With Record-breaking Customer, Revenue and Product Milestones
Pricefx, the global leader in cloud-native pricing software, today announced it continues to accelerate growth across sectors with a new best quarter in company history. With more than 25 deals closed, the company recorded 66% year-over-year annual recurring revenue (ARR) growth in the first half of 2022, ending June 30. Key new customers include Aeromexico Airlines, Cigars International, J. M. Huber Corporation, Southwire Corporation and United Electronics. Additionally, Pricefx closed three out of every four deals in its pipeline, more than 10 customers expanded their engagement with Pricefx and the largest customer deal exceeded $1 million in annual subscription.
The Advantage Pricefx partner program exceeded its yearly goal in the first half of 2022, with partners assisting in 85% of revenue booked and dramatically outperforming the industry average of 30%. Closing nine deals with SAP, the team surpassed all 2021 revenue booked with SAP in the first six months of 2022. The company also logged 13 deals with its system integrator partners (SIs), was listed in CRN's 2022 Partner Program Guide and officially joined the Amazon Web Services ISV Accelerate Program earlier this year.
"At a time when many companies are dealing with challenging economic conditions, we are continuing to outpace the industry in revenue and customer growth," said Marcin Cichon, Chief Executive Officer for Pricefx. "Our growth trajectory is based on maximizing our investments in product innovation, expanding globally and accelerating growth via partnership opportunities. Our customers rely on Pricefx for innovative solutions to help them digitally transform their pricing function and achieve outstanding bottom-line benefits."
To support this growth, Pricefx has appointed Gillian Sheeran as its Chief Financial Officer. Sheeran is a seasoned international finance professional with a 20-year career spanning consulting and advisory, finance, and operations team leadership roles in the publishing, financial services, and high-tech industries. Across a diverse mixture of roles, she has demonstrated expertise in mergers and acquisitions for both fundraising and exit strategy, scale-ups, turnaround strategy, multinational business unit management, and business transformations. In her new role, Sheeran will oversee the company's growing finance team with an eye to advancing the corporate strategy and achieving its financial goals and objectives.
"As the most innovative pricing software company witha robust portfolio of customers, Pricefx presents an amazing opportunity to maximize margins, increase revenue and boost profits for companies around the world," said Sheeran. "Bringing my financial expertise to bear, I am excited to join the company and assist in executing its strategy to drive growth and gain market share."
The company had two major product releases in the first half of 2022 to help drive its continued growth. The Godfather 8.0 release included an improved user experience, better capabilities for quoting and rebates making them simpler and faster, and Simulation for Optimization for forecasting the effectiveness of promotions and rebates. Most recently, the Hurricane 9.0 release introduced Sales Compensation, which increases efficiency and transparency, reduces disputes and payout errors, and lowers administration costs.
In the first half of 2022, Pricefx won four Gold-level awards for its outstanding product technology and performance. The company received the Gold Stevie® Award for Best Financial Management Solution and another Gold Stevie for Best Manufacturing Solution in the 2022 American Business Awards®. It also received the Gold Globee® for Best SaaS Solution for Sales in the 2022 Sales, Marketing, Customer Service and Success Excellence Awards and the Gold Globee® for Best Configure Price Quote (CPQ) in the 2022 Information Technology World Awards.
Pricefx was named the winner of the 2022 SAP® Pinnacle Award in the SAP Store category and the 2022 Artificial Intelligence Excellence Awards, which recognizes companies that apply AI to solve real problems. Additionally, Pricefx CEO Marcin Cichon was recently featured on the Fox Business Network in a one-on-one interview with Kathy Ireland.
Pricefx is the global leader in cloud-native 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 price optimization and management platform that provides the industry's fastest time-to-value and lowest total cost of ownership. Its innovative solution works for B2B and B2C enterprises of any size, in any industry, in any part of the world. 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.