Ventech, HTGF and RenownBusiness Angels Invest More Than €4Million in the Retail Tech Startup 7Learnings
Berlin, May 18, 2022
● 7Learnings has secured more than €4 Million fromVentech (lead investor), HTGF and Celonis Managers in its latest funding round.
● Since 2019, 7Learnings offers retailers a SaaS solution for machine learning-based pricing & marketing optimization.
● The software increases profits for its clients by >10% on average.
● The company targets to make its software the leading platform for retail optimization of tomorrow.
The start-up was founded in2019 by Martin Nowak, Eiko van Hettinga, and Felix Hoffmann. Felix Hoffmann, previously product manager for Zalando's pricing algorithm, had the idea to offer small and medium-sized retailers a solution for the next generation of retail optimization. For retailers, this is an important asset to strengthentheir position against the competition from giant ecommerce platforms like Amazon.
With the help of 7Learnings' SaaS solution, retailers can use machine learning algorithms for intelligent pricing and marketing steering. The software maximizes its users’ profits while meeting their sales targets.
“Although retailers spend almost as much money on product-specific discounts and marketing as they do on purchasing their products, decisions here are not optimized. Today, many retailers still make pricing and marketing decisions completely detached from one another, even though they are aiming at the same goals. In this way, retailers leave profit and revenue potential untapped. Today, there is no solution on the market that sufficiently dovetails pricing and marketing decisions - this is the gap we are closing.” says Felix Hoffmann, CEO of 7Learnings.
“Inflation, supply chain disruptions and a shift of buying behavior towards online channels increase the pressure on retailers to invest in pricing and optimization technology. With our prediction-based approach, we help retailers stay ahead in this highly dynamic market environment. In doing so, 7Learnings optimizes decisions in D2C retail across multiple sales channels - on online stores, in brick-and-mortar stores and on marketplaces,” adds Felix Hoffmann.
Eikovan Hettinga explains what the company intends to do with this funding: "We are building the leading platform for retail optimization. It is our vision to make the latest AI technology accessible and affordable for all retailers. With the additional funds, we want to further develop our software and invest heavily in the company’s growth, especially in our geographical expansion outside of DACH. With our new lead investor Ventech on board, we are confident that their deep knowledge in B2B SaaS and unique vision as an investor will perfectly support us all the way through."
Nicolas Barthalon from Ventech comments: “When it comes to pricing, many retailers rely on rule-based systems and simply follow competitors' prices, while self-business goals are rarely taken into account. 7Learnings is challenging the status quo and changes the situation for European retailers by merging pricing and marketing optimizations, and will have even more to propose tomorrow. At Ventech, we are excited to support innovative entrepreneurs like Felix, Eiko and Martin, who have a clear vision benefiting from years of experience in pricing, ecommerce and data science.”
In addition to Ventech as lead investor, the existing investor HTGF also participates in the current financing round. Alongside, leading managers of Munich-based Decacorn's Celonis, Remy Lazarovici, the company's first employee and now SVP Sales, and Sebastian Walter, VP Customer Success, are investing. In the pre-seed round, renown investors such as Elmar Broscheit, CFO Gorillas, had already invested in the startup.
About 7learnings GmbH
7Learning offers retailers a SaaS solution for machinelearning-based pricing and marketing optimization. The software increasesprofits and revenues by more than 10%. Based on various input factors, thesoftware makes daily sales, profit and revenue forecasts per product and pricepoint. Customers can optimize prices according to their business objectiveswith only one click.
Eiko van Hettinga
Engeldamm64b, 10179 Berlin
Tel.:+49 30 4036773 70
Ventechis a pioneering global early-stage venture capital firm with a strong digital focus. Founded in 1998, Ventech backs the most innovative and visionary tech-entrepreneurs with a global ambition. With its dual structure platform, Ventech has dedicated funds for Europe (Paris, Munich, Berlin & Helsinki)and Asia (Shanghai and Hong Kong). Since its inception, Ventech has raised over 900m€, and has realized over 200 investments, (including Vestiaire Collective, Passion.io, Ogury, Picanova, Veo, Reveal, Speexx) and over 80 exits (Fintecsystems - acquired by Tink; Believe (BLV.PA) – listed on Euronext; Arteris (AIP) listed on Nasdaq).
For more information, www.ventechvc.com.
Follow us on LinkedIn and Twitter.
Head of Communication& Marketing
+33 (0)6 16 44 14 87