INTRODUCING FRESHPLUM: NEXT-GENERATION BUSINESS ANALYTICS FOR DIGITAL COMMERCE

SOURCE:  Freshplum

New Enterprise Associates (NEA), Greylock Partners, Google Ventures, Charles River Ventures (CRV) invest

PALO ALTO, Calif., June 26, 2012 — Freshplum, Inc. today emerged from stealth mode to announce $1.4 million in seed financing from New Enterprise Associates (NEA), Greylock Partners, Google Ventures, Charles River Ventures, along with a number of current and former executives from Facebook, Google, and PayPal. Freshplum is building a unique analytics solution to drive companies’ sales decisions by data-science and mathematics. Currently in a private alpha, the company is already serving over ten million API requests a day.

“Selling goods and services online continues to be more art than science,” said Sam Odio, Freshplum co-founder. “Eighty-two percent of the companies we talk to price their products on a ‘hunch’ because they lack the tools necessary to dive deep into the data. Freshplum solves this problem by providing those tools that eliminate the guesswork behind pricing and other sales decisions.”

Freshplum was founded by Sam Odio, Michael Yuan, and Nick Alexander. Odio was working at Facebook (the acquirer of his last company, Divvyshot) and Alexander was preparing to matriculate at Harvard Business School when Paul Graham of Y Combinator convinced them to pursue the idea.

“The retail industry is embracing new technologies as they continue to understand and enhance the customer experience,” said Wesley Chan, partner at Google Ventures and former lead product manager of Google Analytics. “We are excited by the strong track record of the Freshplum team and look forward to working with them as they build out tools that eliminate the guesswork behind pricing and marketing for retailers.”

Freshplum is developing its alpha solution in cooperation with a handful of premier digital commerce providers. The company touts its software’s ease-of-use as one of customers’ favorite features. Says Odio, “A lot of enterprise software solutions that companies are accustomed to take weeks or months of effort to set up and integrate. Ours takes minutes.”

Businesses interested in accelerating their revenue growth can contact Freshplum at science@freshplum.com or make a request online at freshplum.com. A wider alpha will be available late this year.

About Freshplum
The mission of Freshplum is to bring the decision making power of data-science to companies who sell goods and services electronically. Freshplum recently raised $1.4 million in seed funding and has started to accept early alpha customers. Freshplum was founded in Palo Alto, California in 2011 by Sam Odio, Michael Yuan, and Nick Alexander. A wider alpha will be available late this year.

Media Contact
Sam Odio
so@freshplum.com