Prorize Company Research Report
Company Overview
Name: Prorize, LLC
Mission: Prorize aims to transform how companies price their products and services by identifying patterns in data and dynamically generating revenue-maximizing pricing solutions.
Founded: 2006
Founder: Dr. Ahmet Kuyumcu
Key People:
- Dr. Ahmet Kuyumcu, Founder & CEO
- Peter Hansen, Chief Growth Officer
- Amber Hyde, VP of Client Success
- Dinesh Mehta, VP of Products & Engineering
- Can Hantas, Director of Software Engineering
- Nataliia Afanasieva, Director of Data Engineering
- Hasan Kuyumcu, Director of Pricing Science
- Fatih Demirkol, Director of Science and Technology
Headquarters: 3535 Roswell Rd STE 48, Marietta, GA 30062
Number of Employees: No information is available.
Revenue: No specific revenue figures provided, but the company has consistently exceeded 35% YoY growth over the past three years.
Known For: Prorize is globally recognized for its AI-based pricing platforms and revenue management solutions. The uniqueness of its approach lies in its sophisticated software that incorporates machine learning and optimization techniques beyond simple Excel spreadsheets or rule-based systems. Prorize was the winner of the 2017 Franz Edelman Award for its pioneering work in analytics.
Products
Self Storage Revenue Optimizer™ (SSRO™)
- Description: SSRO™ is a specialized tool for the self-storage industry designed to enhance revenue through advanced AI and machine learning algorithms. The optimizer analyzes price, promotion, unit type, unit size, customer segment, competition, season, and other market conditions to predict customer responses and maximize revenue.
- Key Features:
- Maximizes revenue per unit
- Predicts customer behavior
- Reduces human intervention and pricing errors
- Provides fewer resources dedicated to better results
- Automated updates and self-learning capabilities
AI Pricing Platform™
- Description: This platform applies AI for dynamic pricing solutions across various industries, utilizing demand patterns and customer preferences to optimize pricing decisions.
- Key Features:
- Employs advanced forecasting methods
- Generates probabilistic forecasts
- Incorporates robust reporting capabilities
- Supports both centralized and decentralized pricing environments
Recent Developments
New Products and Features
- Integration with Tenant Inc.: Prorize's SSRO has been integrated with Tenant Inc.’s Hummingbird Platform, creating seamless data flow without IT intervention.
- Expansion and Growth: Prorize has seen over 60 new clients onboarded internationally, now active in North America, Europe, Asia, South America, and Africa.
- AI and Machine Learning Technologies: Continuously enhancing its technology platforms to adapt to dynamic market conditions in the self-storage industry.
Partnerships and Collaborations
- Storable Partnership: Announced integration with Storable, allowing optimized rates and data to flow efficiently between platforms.
- Highline Storage Partners: Collaboration celebrated its first anniversary, credited with contributing to aggressive revenue gains.
Strategic Initiatives
- Revenue Management Expansion: Prorize is focused on extending its influence in self-storage revenue management, with consistent 35% YoY growth for over three years.
- Leadership Appointments: Key roles filled with experts, including the appointment of Dinesh Mehta as VP of Products & Engineering.
Conclusion
Prorize, through its cutting-edge AI and revenue management solutions, continues to enhance operational efficiency and optimize pricing strategies for its clients. Prorize remains at the forefront of innovation within the pricing technology domain, enabling its customers to achieve sustainable revenue growth. The company's expansion across multiple continents and integration with leading industry platforms underscore its leadership and dedication to excellence in revenue management technology.
