PALO ALTO, Calif.--(BUSINESS WIRE)--Eversight, a leading provider of industry cloud solutions for the Retailer and Consumer Packaged Goods industries, today announced strong first quarter results, following a record setting fiscal year which ended January 31, 2022. Sales grew by 41% year-over-year.
Eversight is seeing that high level of growth accelerating in the new fiscal year to 62% for the last 12 months. The company now has more than $80B in revenue under management and is seeing strong performance across both the Eversight Offer Innovation Suite for Consumer Goods Manufacturers and the Retail Pricing Suite for Retailers.
“We’re seeing broad recognition that, given the disruptions of the last two years, ongoing inflation, and the shift to omnichannel, a forward-looking experimentation-based approach to optimizing prices and promotions makes infinitely more sense than backward-looking historical methods,” said Jamie Rapperport, Co-founder and CEO of Eversight. “It’s exciting to see that reflected in strong and accelerating growth.”
Eversight’s cutting-edge solutions offer the only capabilities in the market that leverage AI-driven experimentation at scale to truly optimize retail price and promotions. The company’s suite of software solutions enables Consumer Goods Manufacturers and Retailers to be agile and proactive with respect to pricing and promotions decisions, particularly amidst continued disruption, inflationary pressures, and evolving shifts in shopper behavior.
For Consumer Goods Manufacturers: Eversight Offer Innovation Suite
- AI-Powered Experimentation: Eversight’s AI-engine continuously tests and verifies different promotion variations directly with shoppers to uncover better performing offers that resonate today, creating shopper-centric data that can’t be found anywhere else
- Intelligent Guidance & Tracking: Eversight systemizes the creation, distribution, and automated tracking of go-to-market strategies to enable optimal in-market execution and real-time updates
- Advanced Data & Analytics: Eversight is the only solution synthesizing data to create a bridge between Sales and Marketing, ensuring the right information is available in the right systems for the right teams
For Retailers: Eversight Retail Pricing Suite
- Dynamic Price Management: Eversight’s robust rules set forms the foundation of a complete dynamic price management system, while AI ensures pricing strategies are followed and saves teams time
- Price Optimization: Eversight optimizes base pricing through programmatic, AI-powered experiments at the shelf, producing the industry’s best elasticity and cross-elasticity data and better pricing decisions
- Promotion Optimization: Eversight optimizes promotions through programmatic, AI-powered experiments at the shelf, automatically uncovering and executing the best performing offers
“We founded Eversight nine years ago with a clear vision of transforming how retailers and manufacturers optimize price and promotions. It’s exciting to see that vision turning into reality as we become the industry’s most strategic technology partner,” added David Moran, Co-founder and Chairman of Eversight. “Thanks to our customers and the Eversight team for another strong quarter, and an outstanding year of customer success and innovation.”
About Eversight
Eversight is the recognized leader in AI-powered pricing and promotions. Global brands and retailers rely on the Eversight platform to optimize pricing in response to market conditions and to deliver higher ROI on promotional spend. Eversight’s Retail Pricing Suite and Offer Innovation Suite solutions are driving strong margin and sales volume improvements for leading companies such as Coca-Cola, Frito-Lay, The Hershey Company, Raley’s, and Schnucks. Founded in 2013, Eversight is headquartered in Palo Alto, California. www.eversightlabs.com
