CommerceIQ is after more retail action with the acquisition of London-based digital shelf analytics (DSA) platform e.fundamentals for an undisclosed sum.
e.fundamentals was founded in 2014 and is used by businesses to analyse their brands’ e-commerce performance across online retailers. It also has an office in Chicago.
According to California-based CommerceIQ, e.fundamentals’s DSA is used by over 450 retailers in 41 countries. Names listed on its website include PepsiCo and Mars Wrigley.
Via the deal, the US firm will integrate the intelligent automation of its CommerceIQ Retail Ecommerce Management Platform with DSA, meaning CommerceIQ now provides its customers retailer coverage and localised support across the Americas, EMEA and APAC regions.
The US company will be looking to offer one software platform to help retailers with a combination of sales, supply chain and retail media automations from CommerceIQ plus digital shelf activity and store-level availability insights from e.fundamentals.
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Jobs appear to be safe as Guru Hariharan, Founder and CEO of CommerceIQ, says: “We’re thrilled to welcome John Maltman [CEO], the entire e.fundamentals team, and their roster of top-tier customers into the CommerceIQ family.”
e.fundamentals has 63 employees listed on LinkedIn.
Hariharan explains: “Having the resources to make bold moves that have a massive payoff for our customers and accelerate our vision is exactly why I invited Softbank earlier this year to lead our Series D funding round.”
In March, CommerceIQ closed a $115 million (£96 million) Series D funding, bringing the company’s total valuation to more than $1 billion (£832 million). The new funding followed CommerceIQ’s $60 million (£50 million) Series C round in June 2021, bringing total funding to $175 million (£145 million).
Testimonials on CommerceIQ’s website include Bayer and poultry processing company Pilgrim’s Pride.
