SEATTLE – April 27, 2015 – Indix, the cloud-based Product Intelligence company that provides analytics and insights for brands, retailers and commerce enablers, continues to drive the change behind how consumers buy and the way brands and retailers sell. Today it announced Q1 2015 as its strongest quarter to date. Indix added several new customers to its roster, helping spur more than 250 percent growth in quarterly revenue year-over-year. Already engaged with companies such as Microsoft, Shoes.com and Sierra Trading Post, Indix struck new agreements with Trōv, LBU Lighting, Optoro, Booodl and Prosperent in Q1 2015.
The additional deals and rapid growth help Indix significantly advance its goal of helping reshape commerce across retail, B2B and digital. In the last year alone, Indix added 400,000 new sellers, 7,000 new brands and an additional 500 million new products to its database of nearly 1 billion products. It also released v1.1 of its API so customers can pull on-demand reports, enable Search and Matching Services (SMS), and leverage the Indix machine learning algorithms.
Mobile app Trov lets its users organize, protect and value their belongings, from cars to bicycles to jewelry. With access to the Indix database of more than 700 million products, Trov will not only offer up-to-the-minute intelligence on product value, but also will organize and group similar products. People using Trov can be alerted when marketplace values change, signaling it’s either time to sell that car for top dollar or pick up a new one at a great price.
“This is the start of something great,” said Trov CEO Scott Walchek. “Indix’s technology and platform are powerful tools that we now have at our fingertips. It has opened the door to insightful information on hundreds of millions of products for us. The end result is an outstanding experience for Trov users and one we know people will love.”
For Indix’s customers and partners, getting access to and understanding everything about products means better consumer targeting, faster products to market, smarter pricing decisions, and an ability to instantly delivery the right product to the right person at the right time. Doing that well naturally translates to more sales for brands and retailers.
Indix’s new customers and partners are all harnessing the power of Product Intelligence insights and analytics to improve what and how they offer products. Prosperent utilizes the technology to organize more than 50 million retail products, while Revionics gives retailers the upper hand in battling intense pressure from consumer price transparency and increased competition. And Optoro is combining their large set of proprietary inventory information with the Indix market information to revolutionize the way retailers approach their excess and returned inventory and help move it through their site, blinq.com.
“We’re seeing businesses, from startups to Fortune 500 companies, realize the true potential of Product Intelligence and big-data analytics,” explained Sanjay Parthasarathy, founder and CEO of Indix. “When you know more than your competitor does about the product and the customer, you’re winning the game. Plain and simple.”
Indix is building the world’s largest product database and a product intelligence platform that helps businesses boost productivity, drive innovation, and accelerate growth. Using the Indix App and APIs, businesses can improve product search and discovery, optimize promotions and offers, enrich product catalog attributes, and analyze the market and competitors. Indix also provides machine learning services using proprietary data science algorithms. Indix currently tracks more than 700 million products across more than 7,000 categories. The company now has offices in Seattle, San Francisco and Chennai. For more information, please visit https://www.indix.com.