Parley has raised €4 million to become the leading European company in the field of web price intelligence

After raising an initial €400,000 with business sponsors in 2015, Parley has just completed a Series A of €4 million fundraising, with IRDI Capital Investissement and GSO Innovation. The amount will be used to fund the company’s marketing and commercial development in France and abroad, as well as research and development and product development.

Founded in 2014, the Toulouse-based company has developed a solution based on artificial intelligence, price monitoring and dynamic re-pricing for e-merchants who need to monitor competing prices and for brands who need to analyze online prices for their sellers. This price monitoring tool on more than 20,000 locations in nearly 60 countries allows brands and retailers to better understand and adapt markets, developments and competitors in order to improve their sales and activities. In a highly competitive e-commerce environment where brands and retailers are fighting a ruthless war over price, which is often the main factor in an online buying decision, Parley offers an e-commerce price overview of the 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 Fougere, President of Paarly.

“On the web, there is already a fairly high price tag, so our goal is to provide actionable data to customers who are not necessarily from the web world. We are working with retailers and historical brands who will use this data to reposition themselves on either e-commerce or actual sales. Dennis Ollion, general manager of the company.

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DNA of the main accounts

Barley has quickly established himself as one of the major players in price control and pricing. Today, it has nearly 200 customers who use its service. The company that operates 20% of the CAC 40″.Instead, we have large DNA accounts. The majority of the accounts we work with generate more than 50 million euros in turnover annually“, says the CEO. Among its clients, the group includes giants and leaders in their markets such as Total, Fnac d’Arte, L’Oréal, Saint-Gobain, Sarinza and Backmarket.

At present, 25% of its activity takes place internationally in countries such as the United Kingdom, Italy or Spain. In the future, the goal is to get a third of the activity abroad.

“We have strong traction in the French market which is related to word of mouth. Historically, we solved in English. We translated it into French in a second step. In our early years, 50% of our business was abroad. France with higher growth than the rest, this reduced The share of foreign countries. And the idea would be to achieve roughly equivalent French and foreign growth ”, defines Denis Ollon.

Leading the European market in two years

Today, the leading French company in the price intelligence sector, Parly wishes to become the European leader in “Pricing analysis and optimizationThe company gives itself until the end of 2023 and the beginning of 2024 to take this position. In a somewhat fragmented market, it would have to take from 15 to 20% of its market share to surpass this achievement. It is in the top five in the market and is the only French player in the arrangement.

In order to achieve this goal, it aims to double its customer portfolio by the end of 2023. With this in mind, Parly plans to open two subsidiaries in London and Barcelona. Since Barley is already spread internationally, in the Nordic countries, London will be a way to establish its European presence. As for Barcelona,This is for the reason of human resources and the possibility of having a recruitment poolThe first opening is planned for the end of 2022 or even the beginning of 2023. The second will be in the second half of 2023.

60% growth in the last 12 months

The company’s maturity and reputation as an online pricing specialist have 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% over the past two years. The health context and inflation have further enhanced interest in the solution. “Growth has accelerated in recent months and is becoming more tangible. In the last 12 months, we have exceeded 60%“.For future training, the structure wishes to be in a harmonious growth direction.

The capital increase will also make it possible to strengthen the workforce. Parley’s team currently consists of 35 people, and could have up to 50 employees by the end of 2022. The positions will be created primarily in the areas of setup, product and marketing.

“Unlike other startups, Parley has achieved Series A after several years of experience and maturity. So we know our market and our customers expectations perfectly. Thus, the goal will be to amplify our growth and international presence. While continuing to deliver perfection. Added value on the topics of price control and re-pricing. to our customers and maintain our exceptional satisfaction and loyalty rate with a 98% renewal every year,” concludes Dennis Ollion.

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