Total amount raised
$1 Billions
Latest funding date
4/1/2022
Location
CommerceIQ has successfully raised significant funding through multiple rounds, with its latest being a Series D round closed on March 21, 2022. The platform leverages machine learning and automation to enhance e-commerce sales for large brands.
Keep reading to explore the intricacies of CommerceIQ's fundraising journey and the investors backing this innovative platform.
What Is CommerceIQ?
CommerceIQ, founded in 2012 by Guru Hariharan, is headquartered in Palo Alto, California. The company specializes in Ecommerce Channel Optimization (ECO), leveraging machine learning and automation to enhance e-commerce sales for large brands.
With a team of 251-500 employees, CommerceIQ offers a unified, AI-driven platform that streamlines marketing, supply chain, and sales operations. Their products include Digital Shelf Analytics, Ecommerce Sales Management, and Retail Media Management.
CommerceIQ's technology helps brands drive profitable market share growth and improve various metrics like incremental sales, profitability, and out-of-stock rates.
How Much Funding Has CommerceIQ Raised?
- Series A
- Amount Raised: $8.5M
- Date: July 2014
- Lead Investors: Madrona, Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product offerings and establish a market presence.
- Series B
- Amount Raised: $12M
- Date: January 2016
- Lead Investors: Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product capabilities and scale operations.
- Series C
- Amount Raised: $60M
- Date: June 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the platform's features.
- Series D
- Amount Raised: $115M
- Date: March 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand globally and accelerate the development of its unified retail e-commerce management platform.
Total Amount Raised: $195.5M. Current Valuation: Over $1 billion.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund managed by SoftBank Investment Advisers. It is known for investing in technology-driven companies with high growth potential.
- Investment Focus Areas: Artificial intelligence, robotics, e-commerce, telecommunications.
- Notable Investments: Uber, WeWork, ByteDance.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. It focuses on growth-stage technology and software companies.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Twitter, Shopify, DocuSign.
- Shasta Ventures
- Details: Shasta Ventures is a venture capital firm that invests in early-stage consumer and enterprise technology companies. It aims to support innovative startups.
- Investment Focus Areas: Consumer technology, enterprise technology, SaaS.
- Notable Investments: Anaplan, Nextdoor, Zuora.
- Madrona Venture Group
- Details: Madrona Venture Group is a venture capital firm that invests in early-stage technology companies, primarily in the Pacific Northwest. It has a strong focus on supporting local startups.
- Investment Focus Areas: Cloud computing, machine learning, SaaS.
- Notable Investments: Amazon, Smartsheet, Redfin.
- Trinity Ventures
- Details: Trinity Ventures is a venture capital firm that invests in early-stage technology companies. It focuses on building long-term partnerships with entrepreneurs.
- Investment Focus Areas: Technology, consumer services, enterprise software.
- Notable Investments: Starbucks, New Relic, Auth0.
What's Next for CommerceIQ?
CommerceIQ stands at the cusp of significant opportunities, driven by the booming e-commerce market projected to reach $7.4 trillion by 2025. The company plans to expand its global footprint, enhance its unified Retail Ecommerce Management Platform, and hire talent across various domains. These steps aim to capitalize on the growing reliance on automation and machine learning in e-commerce.
Future fundraising seems likely as CommerceIQ scales its operations and technology. The company may also explore acquisitions to bolster its platform capabilities. However, challenges such as intense competition, maintaining service quality, and navigating the complexities of international expansion could pose hurdles along the way.
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