Germany-based Buynomics, an AI-driven pricing and revenue optimisation company, has secured $30m (€27.6m) in its Series B funding round, led by Forestay Capital.
The investment round was also joined by Anais Ventures, VI Partners, and existing investors Insight Partners, Seedcamp, DvH Ventures, and Tomahawk Ventures.
Go deeper with GlobalData
The company intends to use the capital to drive global expansion, prioritising North America, and further advance its Virtual Shoppers AI technology.
Founded in 2018, the company applies machine learning and behavioural economics to simulate consumer purchasing decisions.
Its AI-powered Commercial OS enables businesses to optimise pricing, promotions, and product portfolios with high precision.
Buynomics co-founder and managing director Sebastian Baier said: “This is a defining moment for Buynomics.
“This significant investment propels us into the next phase of our evolution, accelerating our expansion into North America and reinforcing our position as the go-to platform for revenue management and optimisation. With this funding, we are set up to scale effectively and continue to deliver value to our partners worldwide.”
Buynomics stated that the latest funding will be leveraged to drive significant growth in four key areas.
Firstly, the company aims to accelerate global expansion by bolstering its team in Europe and tapping into markets in the US and Asia.
Secondly, Buynomics plans to expand its AI capabilities, particularly by improving its prescriptive analytics and autonomous decision-making features.
The third goal is to broaden its industry reach, moving beyond consumer goods and telco to other sectors like retail, consumer electronics, and consumer healthcare.
Lastly, Buynomics intends to enhance platform integrations, ensuring seamless connectivity with supply chain, finance, and market research ecosystems.
Forestay Capital principal Jonas Jeandupeux said: “We see immense potential in Buynomics’ AI technology to redefine commercial decision-making.
“Their data-driven approach is already changing the mindset on how companies optimize revenue and pricing strategies.”
In November 2022, Buynomics raised €13m in a Series A round that was directed towards refining their consumer behaviour predictions within revenue management and commercial decision-making, and initiating expansion into the US market.
Insight Partners led the Series A round with continued support from existing investors including LaFamiglia and Tomahawk.
