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Profitero on march with €9m war chest
Philip Connolly

October 28 2018, 12:01am, The Sunday Times

Profitero counts Amazon among its main customers

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Profitero, a tech company founded by eastern European

entrepreneurs who settled in Dublin, has raised about $10m
(€8.8m) to fund its growth.

The company raised the money through a combination of

venture debt and capital over the past year. Its main backers are
Silicon Valley Bank (SVB), Boston venture debt specialist
Eastward, and Polaris, which is a long-term investor in the
company.

Profitero provides analytics to brands selling online and counts

Amazon among its main customers. Over the past year it has
also added a number of high-profile clients including Adidas,
Panasonic and Heineken.
 According to Vol Pigrukh, the chief executive of Profitero, the
MENU monday decemberforecasts
company 3 2018 that it will become profitable before the end
of the year and is planning to use the capital to expand
internationally.

“With the recent funding from our partners Polaris, Eastward

and SVB, Profitero is well set for the next level of growth of our
business,” Pigrukh said. “We are investing more in developing
innovative solutions to help our customers grow their sales
online and expanding our operations globally.”

The company has now raised more than $20m in debt and
equity from investors.

Profitero was founded by Pigrukh, Dmitry Vysotski and

Kanstantsin Chernysh, who are originally from Ukraine and
Belarus but later moved to Dublin.

The trio held a number of roles in the Irish o ces of technology

companies such as Microsoft, Google and IBM.

Profitero now has more than 170 sta spread across o ces in
Dun Laoghaire, Boston, Massachusetts, Berkshire in England,
and Shanghai.

Silicon Valley Dublin Amazon Retail United States

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