AI-powered pricing platform to raise millions through early-stage IPO
Quicklizard, a platform that enables retailers to monitor, calculate and apply optimal prices based on real-time market trends, has today announced it will list on the Tel Aviv Stock Exchange (TASE) from Tuesday 23rd February.
The company, which is currently valued at £32m is hoping to raise a further £9.86m to help fuel growth across Europe and enhance research and development into AI-powered dynamic pricing. Quicklizard is an omnichannel retail technology company that puts rule-based, AI-powered dynamic pricing in the hands of businesses all over the world.
This latest addition to the stock exchange has reinforced Quicklizard’s ambitions to work with an increasing number of global brands as supply and demand fluctuates due to COVID-19.
The Israeli-born technology company which employs over 50 people across the UK, USA and Europe provides pricing solutions to retailers across electronics, grocery, fashion, healthcare and travel. Quicklizard’s IPO comes as the company grows 75% year-on-year, with a gross margin of above 70%.
Speaking about their decision to pursue an IPO at an early stage, Quicklizard CEO and Co-founder Pini Mandel commented: “We do not believe that dynamic pricing is a trend. We are certain that it is here to stay and will soon be a part of the everyday shopping experience. We want to make sure our strategy is as transparent as possible to our customers. This is why we are seeking an IPO at this point in the business.
“We have previously raised venture capital funding for Quicklizard, but we know that it is not the only way to consolidate and scale a successful technology business. This IPO is a demonstration of our confidence in the future of Quicklizard. As a company that can determine something as crucial to a business as pricing, we want to ensure that our customers can share the confidence we have in Quicklizard. Going public is the perfect way to do that.”