CommerceIQ Crosses the Unicorn Line with New Funding – Multi-Channel Merchant

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CommerceIQ, a startup with a platform that helps top CPG brands manage their e-commerce sales to retailers and marketplaces, crossed the unicorn line with the closing of a $115 million Series D funding. dollars, bringing the company’s total valuation to over $1 billion.

The company raised a total of $200 million, including its Series C round in June last year. It was led by SoftBank Vision Fund 2 with participation from existing investors Insight Partners, Trinity Ventures, Shasta Ventures and Madrona Venture Group. The funds will be used to expand globally and accelerate platform development.

CommerceIQ’s platform powers what it calls “retail e-commerce management,” with tools that automate e-commerce category analysis, retail media management, sales management, and operations. It has more than 2,200 clients, including major CPGs such as Johnson & Johnson, Kellogg’s, Kimberly Clark, Bayer, Nestlé, Henkel, Colgate and Mars, helping them improve their sales, market share and profitability in markets like Amazon, Walmart, Target and Instacart.

“Our mission is to enable brands to move from analog to algorithmic,” said Guru Hariharan, CEO of CommerceIQ, who founded previous company Boomerang Commerce, which was acquired by Lowe’s in 2019. “The winners of this new era of commerce will be determined by how quickly they can reinvent their business, moving from a siled and manual business to a fully connected and automated business. And our customers are winning big, with an average revenue growth of 18%, thanks to real-time optimizations that increase share of voice, minimize stock-outs and prevent revenue leakage. »

With this new investment, Priya Saiprasad, Partner at SoftBank Investment Advisers, will join CommerceIQ’s Board of Directors.

“As e-commerce penetration continues to rise, competition and technical complexity will make it harder than ever for brands to stand out online,” Saiprasad said. “We believe CommerceIQ can provide businesses with a substantial advantage by harnessing the power of algorithms and automation to boost their online presence. We are excited to partner with Guru and the team in their mission to help brands to win in e-commerce.”

Investment dollars continue to pour into e-commerce startups as fund groups seek to cash in on the multi-trillion dollar opportunity. Examples from the past two years include Pattern, which helps brands grow and grow marketplace revenue, CommerceIQ competitor Stackline, data orchestration software provider Tealium, and online payment platform. Bolt line.

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