Cube Company Profitero Secures $8m Investment

Date: 05/06/14

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Profitero – the leading SaaS provider of online insights and eCommerce intelligence based in IADT’s Media Cube – has secured $8 million in financing from the US venture capital firm Polaris Partners. The funding will allow Profitero to expand its Dublin team to 20 employees, double its Belarus-based engineering team and hire a team of 20 in the US. The company has also named Irfan Salim, former CEO of MarkMonitor – a global leader in online brand protection – to its Board of Directors.

“We are excited to partner with Polaris as we look to continue growing our business by 300% year-on-year and to build out our North American business,” said Vol Pigrukh, Co-Founder and CEO of Profitero. Commenting on the appointment of Irfan Salim to Board of the company, Vol noted, “MarkMonitor and Profitero have very similar business models and Irfan’s input and guidance will be highly valuable for Profitero to ensure we deliver the best service to both our US and global customers”.

Profitero’s technology provides both brick & mortar and online retailers with their competitors’ prices, promotions and full product assortment information. More than 50 global retailers, including Sam’s Club, Staples, Waitrose, Worten and Ocado, rely on Profitero’s accurate and timely competitor intelligence to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.

The company is headquartered in IADT’s Media Cube Incubation Centre in Dún Laoghaire.

For more information on Profitero go to www.profitero.com

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