How Much Did CommerceIQ Raise? Funding & Key Investors

CommerceIQ has successfully raised funds through four distinct funding rounds, with notable investors including Shasta Ventures and Madrona. The platform leverages machine learning and automation to enhance e-commerce sales for large brands.

Keep reading to explore the intricacies of CommerceIQ's fundraising journey and the investors backing this innovative platform.

What Is CommerceIQ?

CommerceIQ is an omnichannel management platform that leverages machine learning and automation to boost e-commerce sales for large brands. The company operates in various industries, including analytics, e-commerce, machine learning, and SaaS.

Founded in Palo Alto, California, CommerceIQ has an employee count ranging between 251-500. The platform unifies data across sales, media, and digital shelf to provide actionable insights and streamline processes, aiming to drive growth and efficiency for ecommerce brands.

How Much Funding Has CommerceIQ Raised?

1. Series A
   • Amount Raised: USD 8,500,000
   • Date: July 2014
   • Lead Investors: Madrona, Trinity Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop and launch their initial product offerings and establish a market presence.
2. Series B
   • Amount Raised: USD 12,000,000
   • Date: January 2016
   • Lead Investors: Shasta Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance product features to meet growing customer demands.
3. Series C
   • Amount Raised: USD 60,000,000
   • Date: June 2021
   • Lead Investors: Insight Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the company's growth and development of its unified Retail Ecommerce Management Platform.
4. Series D
   • Amount Raised: USD 115,000,000
   • Date: March 2022
   • Lead Investors: SoftBank Vision Fund
   • Valuation at Round: Over $1 billion
   • Motivation Behind the Round: To expand CommerceIQ’s business globally and accelerate the development of its unified retail e-commerce management platform.

Total Amount Raised: USD 195,500,000. Current Valuation: Over $1 billion.

Key Investors

• SoftBank Vision Fund
  • Details: SoftBank Vision Fund is a venture capital fund that focuses on investing in technology-driven companies poised for significant growth. It is known for its large-scale investments in innovative sectors.
  • Investment Focus Areas: Technology, AI, robotics, telecommunications, e-commerce.
  • Notable Investments: Uber, WeWork, ByteDance, DoorDash.
• Insight Partners
  • Details: Insight Partners is a global private equity and venture capital firm that invests in high-growth technology and software companies. The firm provides capital and strategic support to help companies scale.
  • Investment Focus Areas: Software, internet, data services.
  • Notable Investments: Shopify, Twitter, Qualtrics.
• Shasta Ventures
  • Details: Shasta Ventures is a venture capital firm that focuses on early-stage technology companies. The firm aims to support innovative startups in their growth journey.
  • Investment Focus Areas: Consumer and enterprise technology, emerging technologies.
  • Notable Investments: Anaplan, Nextdoor, Zuora.
• Madrona Venture Group
  • Details: Madrona Venture Group is a venture capital firm that invests in early-stage technology startups, particularly in the Pacific Northwest. The firm provides long-term support to help companies grow.
  • Investment Focus Areas: Cloud computing, AI, machine learning.
  • Notable Investments: Amazon, Smartsheet, Snowflake.
• Trinity Ventures
  • Details: Trinity Ventures is a venture capital firm that invests in early-stage technology companies. The firm focuses on sectors like SaaS, mobile, and social media.
  • Investment Focus Areas: SaaS, mobile, social media.
  • Notable Investments: Starbucks, New Relic, Docker.

What's Next for CommerceIQ?

CommerceIQ stands at the cusp of significant growth opportunities, driven by the booming global retail e-commerce market projected to reach $7.4 trillion by 2025. The company plans to leverage its recent $115 million funding to expand its global footprint and enhance its unified Retail Ecommerce Management Platform. This expansion includes hiring talent across various domains and doubling its workforce in key locations like Bengaluru.

Future fundraising opportunities seem promising as CommerceIQ continues to scale its operations and innovate its platform. The involvement of major investors like SoftBank Vision Fund 2 and Insight Partners indicates strong backing for potential future rounds. Additionally, the company may explore acquisitions to bolster its technological capabilities and market reach.

However, CommerceIQ faces challenges such as intense competition from other e-commerce management platforms and the need to continuously innovate. Adapting to rapidly changing market dynamics and maintaining high-quality service while scaling operations will be crucial for sustained success.

Use Clay to Get Funding Data

Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like CommerceIQ and gather other critical business insights. Sign up for free and unlock the potential of data-driven decision-making today.