WinBuyer raises $6.9 million

WinBuyer, which develops an Onsite Comparitive Pricing (OCP) application, announced on Monday it raised $6.9 million in its first round led by Pitango Venture Capital alongside Giza Venture Capital.  

The Israel-based startup offers retail sites a tool to compare prices across the Web.  Overstock.com recently announced it would be implementing WinBuyer's widget onto its own site this holiday season.  For example, if a user makes it to the product page, on that actual page the user will see links to other shops that sell the same product and the price they sell it at.  

 

The whole idea is to keep potential buyers on the site, instead of straying away to compare prices which in turn will increase sales conversions.  WinBuyer believes this will, "enable retailers to accelerate consumer purchase behavior."  The interesting thing is the retailer can pick and choose which sites they want to compare prices with.  Obviously, retailers will probably make sure to filter out the sites that sell a product for cheaper.  

Currently the company said it has around 200 merchants utilizing its tool.  Some of its marquee clients include Ritz Interactive, GameQuest and Hayneedle.  

Dan Clarke, CEO of WinBuyer said it would use the funds to "expand its market presence within the U.S. and further into international markets, exponentially growing the solution's availability to online retailers."