PALO ALTO, Calif.--(BUSINESS WIRE)--CommerceIQ, the leading Retail Ecommerce Management Platform, today announced the closing of a $115 million Series D funding, bringing the company’s total valuation to more than $1 billion. The new funding follows CommerceIQ’s $60 million Series C round in June 2021, bringing total funding in the last 12 months to $175 million.
The funding round was led by SoftBank Vision Fund 2 and includes participation from all existing institutional investors: Insight Partners, Trinity Ventures, Shasta Ventures, and Madrona Venture Group. This investment will be used to expand CommerceIQ’s business globally and to accelerate the development of its unified Retail Ecommerce Management Platform, which connects and automates data and decisions across the entire ecommerce stack to power intelligent, profitable growth for leading global brands.
CommerceIQ is the pioneer in helping brands win through retail ecommerce channels such as Amazon, Walmart.com, and Instacart, where 85% of all ecommerce happens. It has capitalized on this enormous untapped opportunity by doubling revenue, customers served, and global employees in 2021.
“Our mission is to empower brands to move from analog to algorithms. Winners in this new era of commerce will be determined by how fast they can reinvent their business from siloed and manual to fully connected and automated. And our customers are winning big, with an average revenue growth of 18%, driven by real-time optimizations that boost share-of-voice (SOV), minimize out-of-stock (OOS), and prevent revenue leakage,” said Guru Hariharan, CEO of CommerceIQ. “We are beyond grateful to our investment partners for their support that will enable us to quickly scale and address the urgent needs of large consumer brands to unlock their full potential. By providing intelligent automation across the entire ecommerce stack, CommerceIQ will become even more critical for brands to grow their market share and profitability.”
CommerceIQ is the first and only solution that intelligently automates all aspects of Retail Ecommerce Management in a unified platform by connecting ecommerce category analytics, retail media management, sales management, and operations management. Today, CommerceIQ has more than 2,200 brands that use its platform daily to maximize incremental sales, category market share, and unit profitability through online retailers such as Amazon, Walmart, Target, and Instacart.
“As eCommerce penetration continues to surge, competition and technical complexity will make it harder than ever for brands to stand out online,” said Priya Saiprasad, Partner at SoftBank Investment Advisers. “We believe that CommerceIQ can provide companies with a substantial edge by harnessing the power of algorithms and automation to supercharge their online presence. We are delighted to partner with Guru and the team on their mission to help brands win in eCommerce.”
Ms. Saiprasad will also join the CommerceIQ Board of Directors.
CommerceIQ is known as the platform of choice for the largest first-party (1P) sellers on retail ecommerce channels, including Johnson & Johnson, Kellogg’s, Kimberly Clark, Bayer, KIND, Nestle, Henkel, Colgate, MARS, and Britax.
CommerceIQ is the leading Retail Ecommerce Management Platform, unlocking profitable market share growth for consumer brands through intelligent automation. Its unified platform applies machine learning and automation across marketing, supply chain, and sales operations to help brands boost share-of-voice (SOV), minimize out-of-stock (OOS), and prevent revenue leakage. With worldwide retail ecommerce growth expected to reach $7.4 trillion in 2025, mastering operational scale and unit economics through retail ecommerce channels is essential. Nestle, Colgate, Whirlpool, and more than 2,200 consumer goods leaders use CommerceIQ as the single source of truth for their retail ecommerce. CommerceIQ has raised $200 million from venture investors including Softbank, Insight Partners, and Madrona Venture Group. For more information, visit https://www.commerceiq.ai/