CommerceIQ Announces Strong Global Adoption of Its Retail Ecommerce Management Platform
With an acquisition, expanded partnerships, new product launches, and leadership appointments, CommerceIQ helped a record number of brands in 2022 capitalize on strong retail ecommerce growth, across 450 online retailers
CommerceIQ, the leading Retail Ecommerce Management Platform, announced significant company momentum throughout 2022, with a record number of brands as customers. In the past eight months, CommerceIQ closed a Series D funding round, which brought the company’s valuation to over $1B, and expanded its offering with the acquisition of UK-based digital shelf analytics (DSA) provider e.fundamentals. Furthermore, the company announced a partnership with Walmart Connect, unveiled new products for Revenue Recovery Automation, Market Share, and Market Insights offerings, plus expanded c-suite leadership with a number executive hires.
Fueled by the acceleration of ecommerce through online retailers, CommerceIQ is already known as the Retail Ecommerce Management (REM) platform of choice for the largest first-party (1P) sellers on ecommerce marketplaces, including Johnson & Johnson, Kellogg’s, Kimberly Clark, Bayer, and Nestle.
“It has been a milestone year for CommerceIQ and the thousands of brands we work with to drive profitability and growth,” said Guru Hariharan, CEO and Founder of CommerceIQ. “With retail ecommerce marketplaces representing the strong majority of ecommerce sales, it has never been more important for brands to continuously optimize their ecommerce business through retailers. CommerceIQ is here to help our customers navigate the rapidly changing landscape, and be the new operating system for their retail ecommerce business – providing full visibility and automation for marketing, sales and operations for their retail ecommerce business across 450 online retailers like Amazon, Walmart, and others.
Key highlights from 2022 include:
- A $115M Series D funding round, bringing the company’s valuation to over $1B
- The acquisition of e.fundamentals, a leading digital shelf analytics (DSA) provider, to create one Retail Ecommerce Management Platform across sales, supply chain, retail media, and DSA for over 40 countries
- A partnership with Walmart Connect to unlock profitable market share growth for consumer brands with retail-optimized automation of Walmart full funnel search and display advertising campaigns
- The launch of Revenue Recovery Automation to help brands reclaim shortages and chargeback deductions, and improve profitability on online marketplaces
- The launch of Market Share and Market Insights to help brands better understand their category to improve share of voice and search, enabling them to reach and acquire new customers
- The appointment of Kal Raman to President and Frank Ianotti to Chief Revenue Officer
With its all-in-one SaaS platform, CommerceIQ can replace up to nine ecommerce vendors, providing a single source of truth across 450 retailers globally, and automating thousands of actions in real-time with AI. This can lead to a 20 percent savings on the tech stack total cost of ownership (TCO) and have the potential to grow sales plus profit by 20 percent. After implementing CommerceIQ, one Fortune 1000 CPG was able to increase revenue by more than $30 million, triple its Share of Voice (SOV), and increase its return on advertising spend (ROAS) by 29 percent.
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