Austin-based Revionics raises $30 million, weighs IPO

Dec 9, 2014
Austin American Statesman

Austin-based software maker Revionics has raised $30 million to make an international expansion push and also accelerate marketing and development efforts

Founded in 2002 in Roseville, Calif., Revionics sells software that helps retailers optimize pricing. The company opened an office in Austin in 2012 and a year ago it moved its headquarters here

The investment was made by Goldman Sachs and brings the total amount that Revionics has raised to $50 million

The deal marks the fifth time this quarter that an Austin company has raised $25 million or more. E-commerce software firm Bigcommerce collected $30 million; Mozido, which provides mobile commerce and payment services, received $185 million, while Gravitant and Transverse, which both develop cloud computing software, each collected $25 million

Brian Hansen, Revionics chief financial officer, said the funding was the final money the company plans to raise before making an initial public offering

Revionics CEO Mark Hafner said his company chose Goldman Sachs as a financial partner “due to their distinguished track record funding fast growing pre-IPO companies. We are thrilled that they see the significant growth opportunity ahead of us.”

In addition to expanding operations, the company will use the funding to make acquisitions, Hansen said

Revionics’ software allows retailers to set prices, and make decisions about promotions and price markdowns using equipment they usually already have, such as cash registers and payment systems

The company has more than 60 customers, including Dick’s Sporting Goods, Safeway and Tractor Supply Company

Revionics doesn’t release financial information, but Hansen said revenue has grown more than 50 percent per year on a five-year basis

Revionics has 150 employees, about 50 of them based in Austin. The company is hiring in all areas, including sales, marketing, development and operations

Hansen expects the company’s workforce to reach 200 by the end of next year, with about 90 of those positions in Austin

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