CommerceIQ enters unicorn club with $115 mn fundraise in Series D round

CommerceIQ, a San Francisco-based e-commerce analytics platform, has raised US$ 115 million in a Series D funding round, valuing the company at more than US$ 1 billion. SoftBank Vision Fund 2 led the Series D investment, which featured participation from all of the company's current institutional investors, including Insight Partners, Trinity Ventures, Shasta Ventures, and Madrona Venture Group.

CommerceIQ will use the funds to expand its business globally, especially in India, as well as to speed up the development of its platform, which links and automates data and choices across the whole e-commerce stack. CommerceIQ has modified its algorithmic components to optimally adapt to buyers' behaviour on local shops such as Amazon.in and introduced support for local websites like Flipkart as part of a recently announced go-to-market expansion to service brands in the Indian market. The Bengaluru office currently employs over 150 employees, with the workforce set to roughly double by the end of the year.

“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 optimisations that boost share-of-voice (SOV), minimise out-of-stock (OOS), and prevent revenue leakage,” said Mr Guru Hariharan, CEO of CommerceIQ.

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