Prime Day Partner: Rev1 Ventures Invests in ORIS Intelligence to Help Brands Protect Pricing Policies
Today marks Amazon’s third annual Prime Day, the day-long sales event with discounts for Prime users. Last year’s Prime Day was Amazon’s largest sales day ever, surpassing Black Friday and Cyber Monday, so it is critical that brands ensure their seller relationships are intact and pricing is consistent across channels. ORIS Intelligence delivers actionable insights that preserve pricing integrity for manufacturers to help them protect their brand – and Rev1 Ventures has participated in the company’s latest growth equity round.
Built from the inside-out, ORIS Intelligence‘s cloud-based platform helps solve the complex selling challenges of today’s manufacturers by patrolling and enforcing minimum advertised price (MAP) everywhere their products are sold online, including discovering unauthorized sellers.
ORIS data shows that third-party sellers on Amazon.com are undercutting Minimum Advertised Price (MAP) by 13 percent – while eBay sees about a 20 percent differential and direct-to-consumer sites undercut pricing by an average of 14.7 percent. ORIS also found that top U.S. brands are experiencing a 27.7 percent pricing violation, while U.S. manufacturers that are engaged with ORIS and are committed to enforcing MAP saw their percentage of MAP violations drop significantly, with many falling below five percent.
ORIS expects to double its team and customer base compared to 2016 and triple its revenue by the end of the year.
For more information, visit www.orisintel.com.