Neogrid (NGRD3), a Software as a Service (SaaS) company for supply chain management, acquires majority control of Predify, a platform for optimizing prices of products and services. With an investment of R$ 4,35 million Neogrid expands its offerings with the integration of tools that provide strategic pricing insights through Artificial Intelligence and Big Data Analytics.
“We continue with the goal of expanding our ecosystem with complementary businesses. By using a transparent AI, Predify has immediate synergy with all Neogrid solutions and with those of recently acquired startups, such as Smarket’s promotion management and Arker’s management of commercial funds. In addition, it has the capacity to generate value for our international customers,” says Eduardo Ragasol, CEO of Neogrid.
This is the fifth transaction made by Neogrid after the IPO. Initially, the company acquires 51,1% of the share capital of Predify and formalizes options for full acquisition and control of the company, maturing in 30 months.
Predify serves different company sizes to ensure they have greater security in their pricing process. The solution analyzes several favorable variables and trends, such as product quality and customer satisfaction. Thus, the startup helps customers have the capacity to guarantee product availability in the chain and make decisions that impact the volume of regular items, such as in the case of promotions.
“Prices directly impact the financial health of companies and mistakes can even lead them to bankruptcy. Predify ‘s Explainable AI solution is capable of understanding and managing the inputs and outputs of complex and variable processes, such as pricing. This allows the algorithm to be applied efficiently in multiple scenarios, both in the chain’s links and in different segments, such as retail, manufacturing, and finance,” explains David Abuhab, Neogrid’s Chief Strategy Officer.
Founded in 2018, PREDIFY has already participated in the Visa and Darwin Startups acceleration programs, was recognized in awards as one of the 10 best RetailTechs in Brazil by 100 OpenStartups and one of the most promising startups in Brazil in the 100 Startups to Watch ranking.
“I’m very excited about this new phase. Considering all the possible paths for Predify, the acquisition by Neogrid is extremely strategic for our growth as it is a consolidated company with deep knowledge about our market. This movement represents a major step forward in the pursuit of our goal of being one of the world’s leading pricing platforms using Artificial Intelligence”, says Carlos Eduardo Schmiedel, CEO of Predify.
For more information, visit the Neogrid website .
ABOUT PREDIFY
Predify is a startup focused on a pricing optimization solution that uses open data and artificial intelligence in order to maximize business profits, optimizing the sales prices of their products and services.
PREDIFY’s solution enables formulating prices according to growth strategies, variation in procurement or production costs, ideal profit margin and market conditions. In addition, it allows comparing the prices of your products with competitors in a database with more than 10 million monitored products. Through predictive analytics algorithms and statistical models, the solution also allows access to accurate simulations and predictions.