CommerceIQ to scale India operations
June 23, 2021
E-commerce management startup CommerceIQ on Tuesday has brought $60 million up in a Series C funding round led by Insight Partners, the funding and private value firm behind market-changing brands Shopify, Twitter, Hello Fresh, and Wix, among others.
Existing investors Trinity Ventures, Shasta Ventures, and Madrona Venture Group likewise partook in the round. The organization is hoping to hit $1.2 trillion by 2024. Nikitas Koutoupes, managing director at Insight Partners will join CommerceIQ’s board.
“It is not necessarily obvious that the greater part of the digital commerce is flourishing through indirect channels, similar to Amazon, Walmart and the like, with just 15% occurring through brands’ direct efforts. CommerceIQ’s one of a kind spotlight on circuitous channels is assisting large brands with deliver on the metrics that matter and win the lion share of the e-commerce market in a post-pandemic world. We were unable to be more eager to invite CommerceIQ to the Insight portfolio.”