Competera, a provider of cutting-edge AI solutions for retail pricing, has been named to Forbes Ukraine's Top 25 Most Promising Startups for 2024. The recognition celebrates Competera's breakthrough achievements in AI, which has transformed how retailers approach pricing optimization while delivering substantial improvements in revenue, customer loyalty, and operational efficiency.
"We are honored to be recognized by Forbes Ukraine among the country's top startups," says Alex Galkin, CEO and Co-founder of Competera. "This acknowledgment validates our commitment to developing cutting-edge applied AI solutions aimed at revolutionizing how the world prices products and services. Our next-generation technology is helping retailers achieve remarkable results — improving margins, strengthening customer loyalty and optimizing productivity by 70% on average. As we continue pushing the boundaries of what's possible with AI in retail pricing, we're excited about introducing transformative capabilities that will help retailers turn pricing into a competitive advantage through customer-centric pricing strategies."
In the past year, Competera has achieved several significant milestones, including securing a $3M seed funding round led by STRATMINDS, Flyer One Ventures, and other prominent investors. The company has also enhanced its AI-powered pricing platform with two industry-first innovations: Store-Level Optimization, which enables retailers to implement hyper-localized pricing strategies while maintaining centralized control, and AI Pricing Assistant, which combines the analytical expertise of a seasoned pricing professional with artificial intelligence to provide proactive, real-time pricing recommendations. These groundbreaking functionalities represent a significant advancement in retail pricing technology.
Success has been hard won for the team. Following Russia's invasion of Ukraine in 2022, Competera demonstrated its innovative and resilient spirit by quickly adapting operations to ensure zero service disruption for clients and outlining a clear path forward for the organization that is both strategic and values-driven. The company made the principled decision to cut ties with Russian customers despite the revenue impact, while simultaneously expanding its global reach.
Today, Competera serves some of the largest retailers in Europe and the United States, including Fortune 500 brands, and has built an impressive network of global partners including Google, SAP, Tech Mahindra, and other industry leaders. This growth has been accompanied by significant industry recognition, including being named in major analyst reports by both Gartner® and Forrester. The company has also received multiple industry accolades, including Best Retail Insights Solution at the 2024 and 2023 VIP Awards and Best Breakthrough Technology Solution at the 2023 VIP Awards.
Looking ahead, Competera is positioned for significant growth in the rapidly evolving retail technology landscape. With its advanced AI capabilities, expanding global presence, and proven track record of innovation, the company continues to lead the transformation of retail pricing technology. As retailers increasingly seek AI-driven solutions to meet evolving market demands, Competera's inclusion in Forbes' Top 25 list highlights its potential to shape the future of retail pricing optimization.
"As we look to the future, we're not just expanding into new industries and growing our partner network — we're building a team of passionate, creative, and relentless individuals who push the boundaries of what's possible every day," says Galkin. "Our success is driven by our people's unwavering commitment to innovation and their dedication to helping our clients achieve their goals. We're incredibly proud to represent Ukraine's vibrant tech ecosystem on the global stage, showing the world the exceptional talent and resilience of Ukrainian startups. Together, we're not just developing technology; we're shaping the future of pricing across industries."
