Digital shelf analytics (DSA) firm e.fundamentals, with its headquarters in the UK, has been purchased by retail e-commerce management platform CommerceIQ.
To help firms perform better on e-commerce platforms like Amazon, CommerceIQ offers software.
When CommerceIQ secured $115 million in investment from SoftBank Vision Fund II in March, it increased its valuation to more than $1 billion, making it the 12th Indian startup unicorn of the year.
“Customers are asking us to accelerate our coverage to global retailers (such as Amazon, Walmart, Target, and Instacart) important to their business. Our acquisition of e.fundamentals adds digital shelf analytics and support for over 450 retailers across 41 countries,” said Guru Hariharan, founder and chief executive officer (CEO) of CommerceIQ. “We are now the first platform to connect and intelligently automate across the shelf, sales, supply chain, and advertising.”
CEO John Maltman-led e.fundamentals will combine operations with US-based CommerceIQ as part of this transaction. The integrated solutions and customer-focused support team will be available to clients globally.
“We built a digital shelf product loved by large global manufacturers. Increasingly, our clients are asking us to help them to take action faster,” said Maltman. “Becoming an integral part of the CommerceIQ retail e-commerce management platform lets us provide a complete solution for brands to understand shopper behaviour for their categories, plan their assortment, manage their sales operations, among other things.”
For current CommerceIQ and e.fundamentals clients and a few new prospects, the first integrated solution from this merger is currently available as a free trial. It combines contemporary processes and deeper analytics to find assortment gaps and possibilities for retail media targeting.