Upstream Raises $3m for Competitor Analytics

Retail and pricing intelligence firm Upstream Commerce has raised $3m in funding, which it plans to use to strengthen its core technology, big data analytics, and recommendation and prediction capabilities.

Founded in 2010 by former Mercado Software execs Amos Peleg and Shai Geva, the firm uses advanced artificial intelligence, semantic analysis and data mining technology to analyze competitors' promotions, product assortment and pricing changes. Mercado is now part of Adobe's Omniture.

The new financing comes from YL Ventures, Bright Capital, and other private investors, adding to the $1.25m YL Ventures contributed in 2011.

Peleg (pictured) comments: 'We will use the funding to further develop our core technology and product as well as expand our solution to provide critical intelligence-gathering capabilities that go beyond pricing and assortment. Additionally, we will strengthen our big data analytics, as well as recommendation and prediction capabilities of the system, to provide our customers with actionable real-time data.'

The firm, which is headquartered in Boston, US, with additional operations in Tel Aviv, Israel, is online at: www.upstreamcommerce.com .