Thursday, September 28, 2023

Pricefx names Ronak Sheth as Chief Executive Officer

By ET Bureau - September 12, 2022 3 Mins Read

Pricefx names Ronak Sheth as Chief Executive Officer

Pricefx , the global leader in cloud-native pricing software, today announced that Ronak Sheth has been appointed Chief Executive Officer, effective immediately. Sheth previously served as President and Chief Revenue Officer since May 2021.

With more than two decades of experience in leadership and board roles in both early stage and high growth technology companies, Sheth has been delivering outstanding growth for over a year. During the first half of 2022 , Pricefx signed more than 25 new customer contracts and experienced annualized recurring revenue (ARR) growth of 66% compared to the same period last year. The company thus delivers record quarters in terms of turnover and sales.

Sheth has served on the boards of several technology-based companies and has worked for several non-profit organizations, including St. Louis Arch Grants and St. Louis Equity in Entrepreneurship Collective. He then served as CEO of Label Insight, a B2B SaaS company he co-founded and which was acquired by NielsenIQ.

“Pricing is critical for any business, especially in the current market where volatility, inflation and supply chain issues have become normal,” says Sheth. “I look forward to continuing our impressive growth trajectory by helping clients digitally transform their pricing function to maximize margins, grow profits and close better deals.”

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Sheth succeeds Marcin Cichon, who has extensive experience in pricing technology and markets, is deeply rooted in Pricefx’s culture and has been one of the leaders in innovating the company and revolutionizing the industry. With these unique qualifications and his ongoing passion for the company, Cichon will continue to play an active role as founder and co-CEO. He will focus on strengthening key customer relationships, being a culture bearer, working closely with Sheth on corporate strategy and ensuring a seamless operational transition. Cichon will report to Sheth.

“It has been an honor to found and lead Pricefx from the beginning and I am grateful to have had the opportunity to work with such talented and passionate colleagues,” said Cichon. “Together we transformed the pricing industry, and now Ronak will bring momentum and experience to high-growth technology companies to lead the next phase of business success. I have worked side by side with Ronak for the past 18 months and have developed a great relationship with him both professionally and personally. I am convinced that his customer-centric philosophy will help take our business to new dimensions.”

Cichon has been instrumental in Pricefx’s success over the past decade, transforming the pricing software industry with an innovative cloud-native solution and growing the company to 150+ customers and 500+ employees.

“We invested in Pricefx because of its modern technology, strong industry partnerships and experienced leadership team,” said Mark Beith, partner at Apax Digital and chairman of Pricefx. “We thank Marcin for his leadership over the past decade in positioning Pricefx as a customer-centric company with innovative technology. Pricefx has grown into an industry leader, offering the fastest time to value and lowest total cost of ownership. Ronak has had an incredible impact on the company since joining and together with the rest of Pricefx’s talented leadership team he will ensure the company’s continued success.”

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ET Bureau

The platform covers e entire enterprise technology space- including emerging technologies like RPA, AI, cloud, automation, and the entire gamut of digital transformation tools, strategies and management decisions.

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