CommerceIQ Secures $115 Million Investment From SoftBank Vision Fund 2 at Unicorn Valuation to Revolutionize Retail Ecommerce Management
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.
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“As eCommerce penetration continues to surge, competition and technical complexity will make it harder than ever for brands to stand out online”
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.
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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.”