Boomerang Commerce, a resident of Plug and Play’s Brand & Retail Accelerator, is a digital price optimization service for enterprise retailers. Boomerang’s platform accounts for over 100 pricing variables in real time to add value to digital retailers. Some of the largest retailers in the world including Staples, Sears, and Groupon use Boomerang’s software to price their products.
Boomerang was founded July of 2012 when Guru Hariharan began developing his idea into a software platform. He spent the first six months “hacking his way,” and the idea for the company was finalized by March of 2013. Their pricing optimization service launched two months later at Techcrunch’s Disrupt 2013 Conference where Boomerang’s team was selected as a finalist.
Since 2013 Boomerang has built a “phenomenal team of statisticians, researchers, and ex-consultants.” The startup’s current team of 45 people is composed of industry veterans with experience from Amazon, Google, Adobe, Mckinsey, and Yahoo.
Guru was introduced to Plug and Play as he was looking for a “quick and easy way to start.” He did not want to spend extra time on administrative work, and as such our Silicon Valley facility was a natural fit for his team. Accoding to Guru, he was “surprised to see Plug and Play’s massive presence in Silicon Valley as a conglomerate of startups.”
Boomerang’s team just raised an $8.5 million Series A round this past June, and the company has grown 150% since that time. According to Guru, Boomerang’s team will be expanding “very aggressively” with plans to grow to 105 members over the next 11 months. We’re also very excited to announce that they have also been selected to pitch as finalists at the biggest retail conference in the world, the National Retail Federation Conference, this upcoming Monday. Boomerang’s team has been selected among five other companies as a finalist for their ‘Startup of the Year’ competition.
Plug and Play Retail is a 12-week startup (stage-agnostic) acceleration and business developmt program based in Silicon Valley. Startups accepted into the program are leveraging technology to solve the biggest problems top brands, retailers, and industry players face today. Plug and Play, along with a round-table of corporations and industry experts, jointly decide the startups that are accepted into the program.
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