The startup’s solution enables retailers and brands to make optimal pricing decisions based on predictions – automated, data-supported and along the entire value chain. The platform combines dynamic pricing, marketing optimization and purchasing control in a single system.
7Learnings uses advanced machine learning models to forecast demand for different price points with high accuracy, and offers the most intuitive way to steer prices, which aim to maximize the business goals set by clients.
The solution is based on the data analysis of millions of products and multiple categories in record time. The machine learning models analyze relevant internal and external data points to discern the effect of price changes on retailers’ KPIs. The effect of price changes on key metrics such as cost, returns, and conversions is assessed as well, helping clients set their profit and revenue targets, which in turn helps to reveal the optimal prices needed to achieve business goals.
The company’s software is also able to accurately forecast the impact of price changes on inventory level, enabling brands to set the right prices to achieve the desired sell-through rate, and hit all the sales targets.
Founded in 2019 by Felix Hoffmann, Eiko van Hettinga, and Martin Nowak, 7Learnings has become one of the leading providers of AI-based price optimization solutions in Europe. In the past years, the company’ solution has been validated in numerous A/B tests with well-known customers, including Westwing, Bonprix, Tom Tailor, Intersport and Tamaris.
This week, the startup has also announced the successful close of its Series B funding round, securing over 10 million euros in new investment. The objective of the financing is the 7Learnings’ international expansion, with a particular focus on North America.
