CommerceIQ announced significant demand for its retail ecommerce management platform from customers.
CommerceIQ closed a Series D VC funding round raising $115 million. CommerceIQ also acquired UK-based digital shelf analytics (DSA) provider e.fundamentals.
CommerceIQ 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.
CommerceIQ’s Retail Ecommerce Management (REM) platform is the choice for the largest first-party (1P) sellers on ecommerce marketplaces, including Johnson & Johnson, Kellogg’s, Kimberly Clark, Bayer, and Nestle.
“CommerceIQ helps 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,” said Guru Hariharan, CEO and Founder of CommerceIQ.
CommerceIQ’s SaaS platform can assist retailers to 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 said it will be at Groceryshop 2022 in Las Vegas, the leading event for the grocery and CPG industry.
CommerceIQ will be hosting 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.