Bubo.AI secures £650k from Mercia and private backers to scale operations internationally.
The Middlesbrough-based pricing platform secured the seed capital from Mercia and private investors to fund international expansion.
Bubo.AI provides AI-driven pricing software that analyses customer behaviour and perceived value to recommend optimum pricing models. The Middlesbrough-based firm helps businesses with complex pricing structures increase their net profits.
Bubo.AI has raised £650k in seed funding from Mercia through the Northern Powerhouse Investment Fund, alongside private backers. The Middlesbrough-based pricing software provider will use the capital to scale its operations across North America and Europe. Co-founded in 2019, the company employs artificial intelligence to help distributors and wholesalers determine optimal product pricing based on customer value.
From the founder
"Pricing has previously appeared like a dark art, and traditional approaches are problematic and not very effective. Trying to price match with competitors can lead to price erosion, especially in a downturn, while sales staff often resort to discounting to meet targets."
Alan Timothy
CEO at Bubo.AI
Investor perspective
"Research shows that smart pricing is the most effective way to increase profits. However getting it right is difficult, especially for big distributors or wholesalers with many different products and branches. Bubo.AI could help companies to revolutionise their approach to pricing and transform their profitability."
Simon Crabtree
Investment Manager, Mercia
Use of funds
- 01Expand into international markets
- 02Scale operations