CommerceIQ turns unicorn

CommerceIQ, the retail online commerce management platform, has raised $115 million led by SoftBank Vision Fund 2 that values the firm at over $1 billion — making it the 12th Indian startup to join the unicorn club this year.

The funding would be deployed to expand CommerceIQ’s business globally and accelerate the development of its unified retail ecommerce management platform that connects and automates data and decisions across the entire e-commerce stack.

The worldwide retail ecommerce growth is expected to reach $7 . 4 trillion in 2025 and unit economics through retail e-tail channels is an essential metric to watch out for. CommerceIQ counts Nestle, Colgate and Whirlpool as some of its key customers. The funding would also be deployed to hire talent across software development, data science & analytics, product operations, and customer support. The company employs over 150 people in its Bengaluru office and is expected to nearly double its headcount by this year-end.

CommerceIQ uses machine learning, analytics, and automation to aggregate data across sales, marketing, and supply chain operations, helping brands gain shoppers and retain customer loyalty. The technology behind CommerceIQ’s platform has been developed out of its Bengaluru office.

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