Profitero named IBM Global Entrepreneur of the Year

3 Feb 2012

Volodymyr Pigrukh, CEO and co-founder, Profitero, reacts to being named the IBM Global Entrepreneur of the Year

Irish start-up Profitero, which makes pricing intelligence software, has been named IBM Global Entrepreneur of the Year at an event in San Francisco.

Profitero, which won the IBM SmartCamp London award in November, was the only Irish company competing in the 2012 IBM SmartCamp Global Final in Silicon Valley.

At IBM SmartCamp London in November, the company, which was only set up in 2010, was selected from more than 80 entries from the UK and Ireland. At the time, IBM said Profitero won due to its technology, its innovative business plan and its alignment with IBM’s Smarter Planet strategy.

Profitero analyses competitor pricing data, offering retailers new levels of insight to help them maximise profits by adjusting pricing and merchandising strategies.

As the volume of data on the planet grows, the ability to quickly transform data into insight is critical for success. Profitero represents a new generation of entrepreneurs entering the market with technology designed to capitalise on the big data analytics opportunity.

“We are honoured to be named the IBM Global Entrepreneur of the Year,” said Volodymyr Pigrukh, chief executive officer and co-founder, Profitero.

“Our solution is a natural complement to IBM’s Smarter Commerce strategy. We are looking forward to working with IBM and its network of technical experts, business partners, venture capitalists, academics and clients to capture our share of the smarter commerce opportunity.”

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years