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CommerceIQ turns unicorn with $115 Mn round led by SoftBank

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Entrackr

Retail e-commerce management platform CommerceIQ has raised $115 million in its Series D financing round led by SoftBank Vision Fund 2. The round also saw participation from all existing institutional investors: Insight Partners, Trinity Ventures, Shasta Ventures, and Madrona Venture Group.

The new funding follows CommerceIQ’s $60 million Series C round in June 2021, bringing total funding in the last 12 months to $175 million. According to the company, it has raised the fresh proceeds at a valuation of more than $1 billion. 

This investment will be used to expand CommerceIQ’s business globally and to accelerate the development of its unified retail e-commerce management platform, said the company in a statement. A significant portion of the funds will also be used for hiring in India, including expansion across software development, data science & analytics, product operations, and customer support.


Read more at- https://entrackr.com/2022/03/commerceiq-turns-unicorn-with-115-mn-round-led-by-softbank/


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