Building on Exponential Growth in 2021, CommerceIQ Emerges as Clear Leader in Retail Ecommerce Management Platforms

Rhea-AI Summary

CommerceIQ reported record growth for 2021, achieving a 106% year-over-year revenue increase and a 113% rise in customers served. The company doubled its headcount, hiring key executives to fuel further growth. Notable partnerships, like the integration with Instacart, and recognition in major analyst reports highlight its market position. With 70% of customers increasing their investments and a significant international footprint, CommerceIQ is poised for continued success in 2022, aiming to further innovate in ecommerce management.

Positive

• 106% year-over-year revenue increase
• 113% increase in customers served
• 100% growth in headcount across departments
• 70% of customers increased investment year-over-year
• International revenue accounted for 20% of total revenue
• New major brand customers acquired, including Henkel and Britax
• Recognition in 'Washington’s 100 Best Companies to Work For'
• Launched industry-leading podcast programs to enhance brand visibility
• Innovative partnerships, such as with Instacart and Criteo

Negative

• None.

 The company more than doubled its revenue, customers served, and headcount; adding key executives and global markets

PALO ALTO, Calif.--(BUSINESS WIRE)-- CommerceIQ, the leading ecommerce decision management platform, today announced a record-breaking 2021 with exponential company growth. On the heels of a successful Series C funding in the first half of 2021, CommerceIQ closed out the year achieving a 106% year-over-year revenue increase, 113% growth in customers served, and a 100% boost in headcount across every department in the U.S. and India. Furthermore, CommerceIQ expanded its leadership team, welcoming numerous key executives who will continue to drive company growth in 2022. The company also garnered unprecedented industry recognition, including coverage in leading analyst reports, and formed pivotal partnerships like its integration with Instacart.

This momentum is expected to accelerate further in 2022, as ecommerce continues to surge internationally on indirect marketplaces like Amazon, Walmart and Instacart. CommerceIQ is already known as the platform of choice for the largest first-party (1P) sellers on ecommerce marketplaces, including Johnson & Johnson, Kellogg’s, Kimberly Clark, Bayer, and Nestle.

“CommerceIQ has seen incredible growth over the past year, automating over 215 million decisions on behalf of 2,000+ brands who are winning market share in retail ecommerce,” said Guru Hariharan, CEO of CommerceIQ. “Ecommerce isn’t slowing down–and neither are we. I am thrilled with the work our team has accomplished in 2021 and look forward to carrying this momentum throughout 2022. Our future is bright as we expand our global footprint and work together with our customers to push the boundaries of ecommerce innovation.”

Key highlights from 2021 include:

Record Customer Growth

• 106% year-over-year revenue increase
• 113% increase in number of customers
• 70% of customers increased their CommerceIQ investment year-over-year, with 25% more than doubling their partnerships with us
• International revenue made up 20% of the mix, with new market expansions into Canada, Europe, and India
• New leading brands as customers, including Henkel, Miele, Britax and KIND

Record Company Growth

• 100% increase in headcount across all departments in the U.S. and India
• Key executive hires to help drive company growth, including:
  • Chris Bauserman as Chief Marketing Officer
  • Jaya Jaware as Chief Financial Officer
  • Doug Bleszinski as Global Vice President of Sales
  • Jamie Khunhausen as Vice President of People and Culture
  • Jonathan Young as Vice President of Customer Success & Professional Services
  • Prabhath Nanisetty as Vice President of Product Management, Data & Insights

Industry Recognition and Product Innovation

• Recognized in “Washington’s 100 Best Companies to Work For”
• Named Startup Weekly’s “Software Companies to Watch”
• Recognized as “Best Ecommerce Solution” by Stevie American Business Awards and “Best Digital Innovation for Sales” by Ventana Research
• Featured in major Gartner, Forrester and IDC analyst reports
• Launched industry-leading podcast programs LeaderiQ and ECX, highlighting high-profile industry speakers including Logitech CEO Bracken Darrell, Walmart CTO Suresh Kumar, and Foundry CTO Stefan Haney
• Nearly doubled the number of modules in the platform and supported 260% more automated actions for our customers than the prior year
• Added retail media integrations, including with Instacart, Criteo, and Target

"CommerceIQ has delivered a lot of value to KIND, from optimizing marketing campaigns to helping us recoup our losses through handling charge backs and short shipment deductions," said Brian Dudzinski, Senior Director E-commerce at KIND. "The aggregated data is insightful and actionable, pointing to specific areas that may need attention like where an out-of-stock item is impacting marketing effectiveness. These tools have helped drive an efficient ecommerce business; but more than that, CommerceIQ has been a true partner. They aligned to our business and signed up to our growth goals from the start. This in and of itself is a recipe for success."

Looking ahead into 2022, CommerceIQ expects continued growth through international expansion and introduction of new ecommerce management innovations such as digital shelf automation, supply chain offerings, and more self-service access to market and operational insights.

About CommerceIQ

CommerceIQ leverages machine learning, analytics and automation holistically across supply chain, marketing and sales operations to accelerate brand growth with online retailers. With worldwide retail ecommerce growth hitting nearly $4.3T in 2020, online sales are becoming core to business operations, requiring high velocity and high-volume decision-making to win at the moment of purchase and drive profitable market share growth. Using CommerceIQ as a single source of truth, customers like Georgia-Pacific, Spectrum Brands and a host of other top-tier Fast-Moving Consumer Goods companies have driven 40% increase in incremental sales, 20% improvement in profitability and 20% increase in share of voice across omnichannel retailers online. For more information, visit CommerceIQ.ai.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005275/en/

Daniel Smiertka

5WPR

CommerceIQ@5wpr.com

Source: CommerceIQ

FAQ

What was CommerceIQ's revenue growth in 2021?

CommerceIQ achieved a 106% year-over-year revenue increase in 2021.

How many customers did CommerceIQ serve in 2021?

CommerceIQ served 113% more customers in 2021 compared to the previous year.

What notable partnerships did CommerceIQ establish in 2021?

In 2021, CommerceIQ formed key partnerships, including integration with Instacart.

What percentage of customers increased their investment in CommerceIQ?

70% of customers increased their investment year-over-year.

How did CommerceIQ's headcount change in 2021?

CommerceIQ saw a 100% increase in headcount across all departments in 2021.

What recognition did CommerceIQ receive in 2021?

CommerceIQ was recognized in Washington’s 100 Best Companies to Work For and various analyst reports.