Buynomics raises 13 million euros

The Cologne-based SaaS platform successfully closes its Series A financing round. The start-up plans to use the new capital to expand into the USA, among other things.

The Cologne-based Software-as-a-Service platform Buynomics closes its Series A financing round with 13 million US dollars. The round is led by Insight Partners, which made a name for itself with early investments in Twitter and Shopify. Existing investors such as Lafamiglia, Seedcamp, Tomahawk and Dieter von Holtzbrinck Ventures also invested in Buynomics again.

The company, which was founded in 2018, intends to use the capital to expand into the US market and improve its own software. Buynomics has developed a platform designed to make it easier for companies to predict their customers' purchasing decisions. The company works with large data sets to model complex purchasing decisions and decision-making processes. The aim is to support entrepreneurs with pricing.

"Today, companies need to react more quickly to cost increases or competitive movements," says Buynomics co-founder Ingo Reinhardt. "Traditional solutions, which are often based on Excel, are no longer sufficient for this." He therefore sees great growth potential in the company's own software, which works with the help of AI and machine learning. The Cologne-based start-up employs 50 people.