Home / CommerceIQ pitch deck to raise $60m Series-C round

CommerceIQ pitch deck to raise $60m Series-C round

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CommerceIQ pitch deck to raise $60m Series-C round

This is the CommerceIQ pitch deck to raise a $60m series-c round in 2021.

About

CommerceIQ™ is the leader in Ecommerce Channel Optimization (ECO), the practice of using machine learning, analytics and automations to optimize the ecommerce channel across supply chain, marketing and sales operations to win at the moment of purchase and drive profitable market share growth. CommerceIQ has been adopted by leading consumer brands accounting for more than $6 billion in ecommerce sales and millions in marketing spend, including Avery Products, Georgia-Pacific, Spectrum Brands and 3 of the top-5 Fast-Moving Consumer Goods Companies in the U.S. These brands rely on CommerceIQ’s machine-based commerce technology and business processes, which are purpose-built to tune ecommerce algorithms, collaborate and share data-driven insights in real-time in response to changing variables across hundreds of products on leading retail sites. Using CommerceIQ as a single source of truth, customers have driven 40% increase in incremental sales, 20% improvement in profitability and 32% reduction in out of stock rates on Amazon. For more information, please visit CommerceIQ.

An e-commerce management platform that was founded by a former Amazon engineer has closed an oversubscribed $60 million Series C fundraise.

Palo Alto-based CommerceIQ, which was founded in 2012, uses artificial intelligence and automation to help brands work with major online retailers like Amazon, Walmart, and Target to boost their sales and marketing operations.

The startup works with brands like Kellogg’s, Nestle, Colgate-Palmolive and has been boosted by the rapid growth of the e-commerce market during the COVID-19 pandemic.

“The company was doing well pre-pandemic, but the pandemic has been a tailwind for us with 300% growth last year and this year looking the same,” Guru Hariharan, CommerceIQ chief executive, told Insider.

“We’ve seen a large influx of customers because people are looking to automate e-commerce, making more and better decisions in this space is talk of the town at the moment.”

The US e-commerce market is set to hit $1.2 trillion by 2024 as retailers increasingly move online, according to eMarketer. The bulk of this market is in indirect channels, such as marketplaces, rather than a brand’s own website.

“Previously brands did deals with retailers over dinner and had physical shelves in stores,” Hariharan said. “Now this is done through an algorithm, you can’t have dinner with an algorithm so we have been a saving grace for these brands during the pandemic.”

The funding round was led by Insight Partners with additional funding coming from existing investors Trinity Ventures, Shasta Ventures, and Madrona Venture Group. Funding conversations with investors took off quickly with terms agreed in less than four weeks, Hariharan said. The company turned down an additional $100 million in funding, according to Hariharan.

CommerceIQ’s new capital will go towards increasing headcount in the company’s engineering and product teams, alongside potential acquisitions and building out the startup’s business development teams. The company has offices in Europe and India which will be expanded with the new funding.

“It’s a game of grow fast or die slow, we are in there to double and triple our investments in our customers by improving our technology,” Hariharan added. “Companies using our solutions are seeing major results, we are like an arms dealer in a war, we’re still making money no matter who is winning.”

Funding rounds

Announced Date
Transaction Name Number of Investors Money Raised Lead Investors
Jun 22, 2021 Series C – CommerceIQ 4 $60M
Insight Partners
January 14, 2016 Series B – CommerceIQ 3 $12M
Shasta Ventures
Jul 16, 2014 Series A – CommerceIQ 2 $8.5M
Madrona Venture Group, Trinity Ventures

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