With Disrupt NY 2016 fast approaching, TechCrunch takes a look back at companies that have competed in the Startup Battlefield in previous years. Today, we take a look at how Disrupt NY 2014 alum Boomerang Commerce has fared in the last two years.
Boomerang Commerce is an analytics company that works with top omni-channel retailers like Staples, Office Depot and Groupon to deploy smart pricing strategies for millions of products to help retailers realize millions of dollars in incremental revenue. The SaaS-based software uses advanced machine learning and real-time data analytics to drive these strategic pricing decisions.
Boomerang Commerce CEO Guru Hariharan tells TechCrunch that the Startup Battlefield was “the birthplace of our company” and “gave [the company] the platform to go big.” The competition gave the Boomerang commerce the visibility it needed to really take the company to the next level, helping them land their $8.5 million Series A round, hire the company’s first employees and sign their first customers.
The company still had some of that Series A money in the bank when they landed their $12 million Series B round last month from a group of investors that really wanted to participate in the company’s future success, says Hariharan.
Boomerang Commerce has been steadily adding customers over the past year-and-a-half, as well, and now has 9 of the top 50 Internet retailers in its customer base. These customers span across a broad array of categories, from office supplies and apparel to home improvement, auto parts and more. The company helps these customers make about 15 million pricing decisions per day based on 25 billion points of performance and competitive data.
While price optimization has remained the key core of the company’s business, Boomerang Commerce added assortment optimization tools in September 2015 that helps retailers determine what popular products they don’t offer and suggests priority level for how soon they might want to add that product to their inventory, and how many they should purchase. And in October, they added an Apple Watch app that helps retailer make merchandise decisions on the go.
Finally, Boomerang Commerce has recently launched a series of retail analytics reports that compares top retailers like Amazon, Target, Walmart and others in categories like consumer electronics, toys and housewares, with additional reports slated to be released soon.
Boomerang Commerce is hiring in marketing, engineering, data science and several other categories, and those interested should check out their careers page.
We’re absolutely thrilled about Boomerang Commerce’s success since they participated in the Startup Battlefield a few years ago, and can’t wait they have in store for the future.
We also can’t wait to see what awesome things the competitors in this year’s Battlefield have in store for us. Will your company be among the competitors at Disrupt NY 2016? We are currently accepting Battlefield Applications from companies that are ready to pitch their companies to our panel of incredible judges, but you’ll need to act quickly as applications close February 29.
Disrupt NY takes place May 9-11 at the lovely Brooklyn Cruise Terminal in New York City. Those not quite ready for the Battlefield who still want to attend the show can find more information about tickets here.