CommerceIQ, a San Francisco CA-based eCommerce analytics platform, raised $115 million in a Series D financing round at a valuation of more than $1 billion.
The round was led by SoftBank Vision Fund 2 and included participation from existing institutional investors Insight Partners, Trinity Ventures, Shasta Ventures, and Madrona Venture Group.
The proceeds from the round will be deployed towards fueling international expansion and boosting the development of its unified retail e-commerce management platform.
Additionally, funds will be used to drive recruitment in India and expand across software development, data science & analytics, product operations, and customer support.
In the future, it also plans to go deeper by building 8-10 products onto its software.
Company: CommerceIQ, Inc.
Raised: $115.0M
Round: Series D
Funding Month: March 2022
Lead Investors: SoftBank Vision Fund 2
Additional Investors: Insight Partners, Trinity Ventures, Shasta Ventures, and Madrona Venture Group
Company Website: https://commerceiq.ai/
Software Category: Omnichannel Management Platform
About the Company: Founded in 2012, CommerceIQ is an omnichannel management platform that helps large brands use machine learning and automation to increase e-commerce sales. CommerceIQ leverages machine learning, analytics, and automation to optimize the e-commerce channel across supply chain, marketing, and sales operations functions to win the consumer at the moment of purchase and drive profitable market share growth. The technology behind CommerceIQ’s platform has been developed out of CommerceIQ’s Bengaluru facilities. Today, it claims to have over 2,200 companies as clients, including Nestle, Colgate, Kellogg’s, and Whirlpool.
Source: https://thetechportal.com/2022/03/21/commerceiq-ecommerce-saas-startup-funding/