CommerceIQ, an ecommerce management platform, has raised $60 million in a Series C round led by Insight Partners. Trinity Ventures, Shasta Ventures, and Madrona Venture Group, all existing investors, also participated in the funding round. With this round the company valuates to a total of $81 million.

The funds raised will be used to fund international expansion as well as product research and development aimed at increasing brand revenue and profitability on Amazon, Walmart, Instacart, Target, and other online marketplaces, according to the company.

CommerceIQ will also use the new funds to expand its India team, which is in charge of the company's technology stack.

According to Guru Hariharan, CEO of Commerce, the hiring will take place across departments such as software and product development, product operations and support, data science, and analytics.

The company employs approximately 250 people worldwide, with approximately 150 of them based in India.

CommerceIQ, founded in 2012, is a company that offers e-commerce solutions. For leading consumer brands, the company automates e-commerce growth. The platform, which is based in the United States and India, uses machine learning, analytics, and automation to optimise e-commerce channels across the supply chain, marketing, and sales operations.

Among the 2,200 brands that use its technology are Kellogg, Nestle, Colgate-Palmolive, and Spectrum Brands.

It plans to offer services to the Indian e-commerce market, including Flipkart and Amazon India, next year.

“Our presence in the region (India) is critical to sustaining our future growth. In the last two years in India alone, we have doubled our headcount and as we move forward, these operations will be a pillar of the overall growth of the company and our ability to deliver on our ambitious product roadmap,” Hariharan said.

“With such a talented and passionate team, we also expect India to be a cornerstone to our future market expansion into Asia-Pacific as a whole,” he said.

Insight Partners' managing director, Nikitas Koutoupes, will join the company's board of directors.

“It is not necessarily obvious that most of digital commerce is thriving through indirect channels, like Amazon, Walmart…, with only 15% occurring through brands’ direct efforts. CommerceIQ’s unique focus on indirect channels is helping large brands deliver on the metrics that matter and win the lion share of the e-commerce market in a post-pandemic world,” Koutoupes said.