Patrick Moorhead joins as Chief Marketing Officer from big data startup Label Insight to help the company continue its strong growth, following its doubling in size for three consecutive years
The appointment follows a hugely successful 2018 for Price f(x) which included the completion of its second financing round with strategic investment from Digital+ Partners and Bain & Company
In 2018, Price f(x) was awarded “Cool Vendor of Digital Commerce” by Gartner®, selected as pricing technology provider to Bain & Company’s “Pricing Navigator” offering and certified as an SAP® AppCenter partner
MUNICH / CHICAGO – February 12th, 2019 – Price f(x), the global leader in cloud pricing software, has appointed a new Chief Marketing Officer to build on the most successful year in the company's history. Patrick Moorhead, who has more than 20 years’ experience in marketing and has worked at technology companies like Twitter and Razorfish, joins from big data startup, Label Insight.
The appointment follows the successful completion of Price f(x)'s second financing round, at the end of 2018, led by Digital Plus Partners, a leading European B2B growth technology investor, and Bain & Company, one of the world's leading management consultancies.
By the end of 2018, Price f(x) was serving 90 global customers, including industry leaders such as Robert Bosch, MediaMarktSaturn, SchneiderElectric, Iron Mountain and Owens-Illinois. Jose Redondo, Global Pricing Excellence Leader at Owens-Illinois said, “We’ve decided to switch from a first-generation price optimization provider to Price f(x) in 2018 because of its flexibility, responsiveness and implementation speed”. The company was awarded “Cool Vendor of Digital Commerce” by Gartner, selected as pricing technology provider to Bain & Company’s “Pricing Navigator” offering and certified as an SAP® AppCenter partner.
“We’re excited to welcome Patrick to the Price f(x) leadership team. With his diverse background in social and digital media, advertising, brand strategy, and marketing for SaaS solutions, Patrick will help to solidify Price f(x) as a globally recognized leader in the pricing SaaS industry, and ensure our growth continues under the banner of a brand that reflects our customers’ voices, our company’s values, and our product innovations.” said Marcin Cichon, Price f(x) CEO.
Patrick Moorhead said: "I'm excited to join a company that is growing rapidly, attracting new customers and winning awards. Price f(x) was founded on a vision of providing a cloud-powered middle-office management platform that serves the entire life-cycle of customers' pricing needs and the team's success in 2018 is testament to how well they are realizing that vision. I'm looking forward to helping them to achieve even more success."
Tom Fencl, Price f(x)’s CFO said: “Patrick will be a key part of our team. We expanded massively in 2018, adding close to 30 new customers and growing our global team to more than 200. Patrick joins us at an exciting time when we currently have over 100 open positions in the company worldwide and plan to expand across all functions. We are looking forward to another exciting year of growth."
Axel Krieger, Founding Partner at Digital+ Partners and Price f(x) supervisory board member, said: “To double in size each year for three consecutive years, in such a highly complex enterprise software segment, as Price f(x) has done, is a tremendous achievement. We are very impressed with Price f(x) because of its past growth, and because of the huge growth opportunity ahead."
Matus Maar, Co-founder and Managing Partner at Talis Capital and Price f(x) supervisory board member said: "When we invested in 2016 alongside with Credo Ventures, we saw the potential for Price f(x) to become a global solution for industry leaders solving a suite of price management challenges. We’re proud to note a record-breaking year for Price f(x) and the addition of Patrick Moorhead to their excellent team, as the company continues to attract and retain a super high-quality customer base. The team’s excellent customer service, operational expertise and impressive dedication has been a recipe for success. We’re excited by their plans for future expansion and are optimistic for another year of astronomical growth!"
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About Price f(x)
Established in 2011 in Germany, Price f(x) AG is the provider of a full suite of price management and CPQ SaaS solution based on the latest native cloud architecture, offering broad and flexible support to the entire price management closed loop cycle of Price Strategy, Controlling, Setting and Realization. The solution is suitable for B2B and B2C as well as for any industry, any size of business and geographical location. Price f(x)’s vision is to remain the leading SaaS pricing and CPQ platform provider offering easy to use, fast to implement, flexible to adapt, risk free and inexpensive, comprehensive solutions. Price f(x)’s business model is entirely based on the satisfaction and loyalty of its customers. For more information please visit: www.pricefx.com.
About Digital+ Partners
Digital+ Partners is a leading technology growth equity investor focused on European and US technology companies with €350 million assets under management. Digital+ supports ambitious entrepreneurs to build global technology leaders by providing them with strategic advice and long-term financial support to help them define and execute their growth plans. The fund focuses exclusively on B2B technology companies and leverages a deep corporate network to help portfolio companies access new markets and build new partnerships. For more information please visit: www.dplus.partners.
About Talis Capital
Talis Capital is a unique Venture Capital investment firm funded by a group of successful and strategic ultra-high net worth entrepreneurs. Focused on backing emerging software technologies, Talis has invested over $500m worth of transactions since 2009 and the portfolio includes Darktrace, Onfido, iwoca, Pirate Studios, Luminance, Threads, Oh My Green to name just a few. Talis concentrates on building long term partnerships and leverages its exclusive investor network to create opportunity. The team looks for innovative high growth companies with sector defining ventures and attractive business models.