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CommerceIQ Joins Unicorn Club After Securing $115m From SoftBank

CommerceIQ is a unified marketing, supply chain, and sales operations platform that uses machine learning and automation.

CommerceIQ Joins Unicorn Club After Securing $115m From SoftBank

Retail ecommerce management software, CommerceIQ, has secured US$115 million in a series D fundraising round, valuing the firm at more than $1 billion.

SoftBank Vision Fund 2 led the investment, with previous investors Shasta Ventures, Insight Partners, Madrona Venture Group, and Trinity Ventures joining in.

Priya Saiprasad, Partner at SoftBank Investment Advisers, Priya Saiprasad, will become part of CommerceIQ’s board of directors as part of the purchase.

CommerceIQ is a unified marketing, supply chain, and sales operations platform that uses machine learning and automation. For major companies like Johnson & Johnson, Nestle, Kellogg’s, Mondelez International, Whirlpool, and Colgate, and, it links and automates data and decisions across the full ecommerce stack to promote growth.

CommerceIQ is headquartered in the United States, but its innovation center employs 150 people in India. By the end of 2022, it anticipates this figure to have doubled.

The new funds will be used to extend the company’s global operations, notably in India, and to speed up the development of its centralised model. Last June, CommerceIQ secured $60 million in series C funding.

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