CommerceIQ, a retail e-commerce management platform, on Monday said it has acquired the UK-based digital shelf analytics provider e.fundamentals for an undisclosed sum.
As part of the acquisition, e.fundamentals, led by chief executive officer John Maltman, will merge operations with CommerceIQ, according to a statement.
The acquisition will help CommerceIQ expand its global e-commerce retailer coverage, allowing consumer brands to boost their market share in a high inflation and supply constrained environment, said CommerceIQ in the statement.
The acquisition comes a few months after CommerceIQ raised series D funding of $115 million led by SoftBank Vision Fund 2 at unicorn valuation earlier in March. A unicorn is a privately held startup that is valued at $1 billion or more.
e.fundamentals' Maltman said that the merger of operations will help provide a complete solution for brands to understand shopper behavior for their categories, plan their assortment, and manage their sales operations. It will also help them plan inventory to meet demand, and optimize advertising spend, he added.
"We are now the first platform to connect and intelligently automate across shelf, sales, supply chain, and advertising to help our customers win big,” said Guru Hariharan, founder and CEO of CommerceIQ.
CommerceIQ uses machine learning, analytics and automation to optimize e-commerce channels across supply chain, marketing and sales operations.
The California-based platform counts Kellogg’s, Mondelez International, Nestle, Whirlpool and Colgate, Johnson & Johnson as its clients.
The firm, which claimed to employ over 150 people in its Bengaluru office, aimed to nearly double the count by the end of the year.
