CommerceIQ provides software to brands to help them perform better on ecommerce platforms such as Amazon.
CommerceIQ became the 12th Indian startup unicorn of this year in March when it raised $115 million in funding led by SoftBank Vision Fund II, thus taking its valuation to more than $1 billion.
“Customers are asking us to accelerate our coverage to global retailers (such as Amazon, Walmart, Target, and Instacart) important to their business. Our acquisition of e.fundamentals adds digital shelf analytics and support for over 450 retailers across 41 countries,” said Guru Hariharan, founder and chief executive officer (CEO) of CommerceIQ. “We are now the first platform to connect and intelligently automate across the shelf, sales, supply chain, and advertising.”
As part of this acquisition, e.fundamentals – led by CEO John Maltman – will merge operations with the US-based CommerceIQ. The customers will have access to the combined offerings and customer-obsessed support team worldwide.
“We built a digital shelf product loved by large global manufacturers. Increasingly, our clients are asking us to help them to take action faster,” said Maltman. “Becoming an integral part of the CommerceIQ retail ecommerce management platform lets us provide a complete solution for brands to understand shopper behavior for their categories, plan their assortment, manage their sales operations, among other things.”
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The first combined offering from this acquisition – available as a free trial for all current CommerceIQ and e.fundamentals customers and for select new prospects – will combine modern workflows, and deeper analytics to uncover assortment gaps and retail media targeting opportunities.
