Samreen Ahmad · · 2 min readSoftBank-led $115m round puts ecommerce enabler in unicorn club
CommerceIQ, a retail ecommerce management platform, has raised US$115 million in a series D funding round, bringing the company’s total valuation to over US$1 billion.
CommerceIQ CEO Guru Hariharan / Photo credit: CommerceIQ
The round was led by SoftBank Vision Fund 2 with participation from existing investors Insight Partners, Trinity Ventures, Shasta Ventures, and Madrona Venture Group.
As part of the deal, Priya Saiprasad, partner at SoftBank Investment Advisers, will join CommerceIQ’s board of directors.
CommerceIQ is a unified platform that applies machine learning and automation across marketing, supply chain, and sales operations. It connects and automates data and decisions across the entire ecommerce stack to support growth for global brands such as Kellogg’s, Mondelez International, Nestle, Whirlpool, Colgate, and Johnson & Johnson.
While CommerceIQ is headquartered in the US, its innovation center is located in India employing 150 staff. It expects to double this number by the end of 2022.
“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,” said Guru Hariharan, CEO of CommerceIQ.
The fresh funding will be used to expand the company’s business globally, including India, and to accelerate the development of its unified platform.
CommerceIQ had raised US$60 million in series C funding last June.
See also: Exclusive: Ecommerce enabler Zaapi bags $4m seed round led by Flourish Ventures, GFC, Partech
Editing by Collin Furtado and Lorenzo Kyle Subido
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