Retail e-commerce management platform CommerceIQ announced Monday that it has acquired UK-based digital shelf analytics provider e.fundamentals for an undisclosed sum. As part of the acquisition, e.Basics will combine operations with CommerceIQ, led by CEO John Moltmann, according to the statement. The acquisition will help CommerceIQ expand its global e-commerce business and enable consumer brands to increase market share amid high inflation and tight supply, CommerceIQ said in a statement.
The acquisition comes months after CommerceIQ raised $115 million in a Series D round led by SoftBank’s Vision Fund 2 at Unicorn’s valuation in early March. A unicorn is an individual startup valued at $1 billion or more.e.fundamentals’ Maltman said the integration of functions helps brands provide a complete solution for understanding their category’s buying behavior, assortment planning and sales management. This helps them plan inventory to meet demand and optimize ad spend, he added.”We are now the first platform to intelligently integrate commerce, supply chain, and advertising to drive greater success for our customers,” said Guru Hariharan, founder and CEO of CommerceIQ.
CommerceIQ uses machine learning, analytics and automation to optimize electronic channels across the supply chain, marketing and sales.Among the clients of the California platform are Kellogg’s, Mondelez International, Nestlé, Whirlpool and Colgate, Johnson & Johnson. The company said it employs more than 150 people in its Bengaluru office and plans to double that number by the end of this year.