PALO ALTO, CALIF.--(BUSINESS WIRE)--
CommerceIQ, the leading Retail Ecommerce Management Platform, today 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.
CommerceIQ at Groceryshop 2022
CommerceIQ will be at Groceryshop 2022 in Las Vegas, the leading event for the grocery and CPG industry. Visitors can stop by the CommerceIQ’s booth (#639) to meet with our team of experts to receive a competitive category analysis and discuss how CommerceIQ can help them achieve their retail ecommerce goals. CommerceIQ will also be hosting live recordings of the LeaderIQ podcasts in its in-booth recording studio with C-suite leaders from top brands like Walmart, BIC, Kellogg’s, Logitech, and more. To book a meeting with our team at Groceryshop, visit here.
CommerceIQ is the leading Retail Ecommerce Management Platform, powering profitable market share growth for consumer brands across 450 global online retailers in 41 countries. CommerceIQ’s all-in-one platform applies machine learning across sales, supply chain, and retail media automations, along with digital shelf analytics, to create a single source of truth that empowers brands to boost share-of-voice (SOV), minimize out-of-stock (OOS), optimize assortment and inventory, and prevent revenue leakage. More than 2,200 brands globally, including Nestle, Colgate, and Whirlpool, trust CommerceIQ to manage and grow their retail ecommerce businesses across global retailers including Amazon, Walmart, and Instacart. CommerceIQ has raised $200 million from venture investors including Softbank, Insight Partners, and Madrona Venture Group. For more information, visit https://www.commerceiq.ai/
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