Paarly raises €4M to become European leader in web price intelligence

After an initial fundraising of €400,000 with business angels in 2015, Paarly has just completed a series A fundraising of €4 million, with IRDI Capital Investissement and GSO Innovation. The amount will be used to finance the company’s marketing and commercial development in France and abroad, as well as R&D and product development.

Founded in 2014, the Toulouse-based company has developed a solution based on artificial intelligence, price monitoring and dynamic repricing for e-merchants who need to monitor competitive prices and for brands who need to analyze their resellers’ online prices. This price observation tool on more than 20,000 websites in nearly 60 countries allows brands and retailers to better understand markets, their developments, competitors and adapt to them to improve their sales and activities. In an extremely competitive e-commerce environment, where brands and retailers wage a merciless war against price, which is often the key factor in the internet purchase decision, Paarly’s service provides an overview of e-commerce pricing. of competition.

“Paarly offers a unique solution for major brands and retailers to develop better digital strategies using innovative data analysis and modeling technology,” explains Cyril Fougère, President of Paarly.

“On the web, there is indeed a very high price tag, so our goal is to provide actionable data to customers who are not necessarily from the web world. physical sales”, adds Denis Oulion, general manager of the company.

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A DNA of key accounts

Paarly quickly established itself as a leading player in price monitoring and pricing. Today, it has around 200 customers using its service. The company that works with 20% of the CAC 40.”On the contrary, we have a DNA of large beads. Most of the accounts we work with earn more than 50 million euros a year“, says the CEO. Among its client portfolio, it includes giants and leaders in its market such as Total, Fnac Darty, L’Oréal, Saint-Gobain, Sarenza and Back Market.

Currently, 25% of its activity is carried out internationally in countries such as the United Kingdom, Italy or Spain. In the future, the goal is to have a third of the activity abroad.

“We have a strong traction in the French market that is linked to word of mouth. Historically, our solution is in English. We translated into French in a second stage. The business was abroad. France had a greater growth than the rest, this reduced the participation of foreign countries. The idea would be to have an almost equivalent French and foreign growth”, says Denis Oulion.

Lead the European market in two years

Today a French leader in the price intelligence sector, Paarly wants to become the European leader in “price analysis and optimization“. The company allows itself until the end of 2023 or beginning of 2024 to assume this position. In a very fragmented market, it should take 15-20% market share to surpass this milestone. in the Top 5 of its market and it is the only French player in the ranking.

To achieve this goal, it intends to double its customer base by the end of 2023. With that in mind, Paarly plans to open two subsidiaries in London and Barcelona. As Paarly is already established internationally, in the Nordic countries, London would be a way to establish its European presence. As for Barcelona, ​​”is for a reason related to human resources and the possibility of having a pool of recruitment“. A first opening is planned for the end of 2022 or even the beginning of 2023. The second would be for the second half of 2023.

60% growth in the last 12 months

The company’s maturity and reputation as a specialist in online pricing created the conditions for a strong acceleration in recent months. Without revealing its turnover, Paarly, which has been profitable since its inception, reveals that its growth has exceeded 50% in the last two years. The health context and inflation further reinforced interest in the solution. “Growth has accelerated in recent months and is more tangible. In the last 12 months, we are more than 60%“. For future years, the structure wants to be on a harmonious growth trend.

The capital increase will also make it possible to solidify the workforce. Currently composed of 35 people, Paarly’s team may have up to 50 employees by the end of 2022. Vacancies will be created mainly in the areas of onboarding, product and marketing.

“Unlike other startups, Paarly achieves a series A after several years of experience and maturation. Therefore, we know our market perfectly and the expectations of our customers. The objective will therefore be to expand our growth and our international presence. We add value on topics of monitoring and renegotiating prices for our customers and maintaining our exceptional satisfaction and loyalty rate with 98% renewal each year”, concludes Denis Oulion.

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