Software maker Upstream Commerce is moving its global headquarters from Israel to Austin and has hired an Austin software veteran to lead the North American operation.
Founded in 2010, Upstream sells software that lets retailers monitor and analyze their competitors’ product offerings and pricing.
The company’s sales, marketing and services operations will be based in Austin, while development will remain in Tel Aviv, company officials said.
Former Bazaarvoice executive Bill Fanning will serve as general manager of North America and vice president of sales. Fanning was previously Bazaarvoice’s divisional vice president of retail enterprise sales.
Prior to Bazaarvoice, Fanning held sales and business development roles at Powered Inc., Troux Technologies and Pervasive Software.
“Upstream was drawn to Austin by its incredibly well-educated workforce and its strong entrepreneurial culture,” Fanning said. “What we want to do is hire here in Austin and build up the business here.”
Retailers use Upstream’s software to adjust their pricing and merchandising strategies depending on current market conditions. It works by monitoring competitors’ websites, promotions, product assortments and pricing changes.
“We scrape the content from competitors’ sites and put it into a platform where they can analyze it and make decisions on their own pricing,” Fanning said.
Fanning said he wants to hire about 20 people over the next year, with plans to continue expanding after that.
Customers include Toys R Us, Staples and eBags. About 70 percent of the company’s business is in the United States, which is why it is moving its headquarters to Austin, Fanning said.
Upstream has received a total of $4.2 million from venture capital firms YL Ventures of San Francisco and Bright Capital, which has offices in Russia and Silicon Valley.
Its most recent round of funding — $3 million in February — was raised to build out U.S. operations.
The company is currently looking for office space in downtown Austin or the Loop 360 corridor.