Dublin-based company Profitero has been named the IBM Global Entrepreneur of the Year and winner of its SmartCamp competition after competing against eight other startup finalists at this year’s SmartCamp World Finals in San Francisco, CA. Profitero helps online retailers maximise sales via actionable competitive data.
Profitero analyzes competitor pricing data, offering retailers new levels of insight to help them maximize profits by adjusting pricing and merchandising strategies. It currently monitoring 27.5 million products across 2,500 European retail web sites, with ambitious growth pans for 2012.
Profitero automatically monitors competitive information (price, shipping, web presence, customer feedback, etc.) on a daily basis, and benchmarks each product against the competition, suggesting priority products to work on, actions to take, and the monitoring of sales impact from actions already taken.
Profitero will have access to IBM’s network of world-class entrepreneurs, investors and industry experts which can lead to funding opportunities and future business success. Profitero also joins last year’s winner, Streetline, who received more than $15 million in venture backing after earning IBM’s Global Entrepreneur of the Year honors.
SmartCamp is an exclusive event aimed at identifying early stage entrepreneurs who are developing business ventures that align with our IBM Smarter Planet vision. Past participants from IBM SmartCamp competitions have captured the attention of the venture capital community with nearly $50 million in investments, and have expanded to new global markets.
“Profitero is a great example of the kind of startup company that IBM is partnering with around the world to build a smarter planet,” said Jim Corgel, general manager entrepreneur programs, IBM.
