The round follows the Tel Aviv-based company’s $1.2m seed round raised in October 2013 from JAL Ventures, Oryzn Capital and Micro Angel Fund, which also backed its Series A.
Feedvisor’s platform is currently used by online retailers worldwide and manages over $1bn.
Its algorithms analyse the competitive environment, product demand, and price elasticity function of every retailer’s products and calculate its optimum price according to the retailer’s specific business objectives.
Square Peg partner Dan Krasnostein said, “Over the last few years, marketplaces have become the most rapidly growing sector of e-commerce, and we’ve realized that there is a need for e-commerce retailers to have highly sophisticated technology they can rely on to achieve a competitive edge.”
Square peg Capital was created last year via the merger of Square Peg Ventures and Victoria Capital.
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