- Retail analytics and pricing intelligence leader Intelligence Node announced it closed $5.5 million in funding
Intelligence Node — a retail analytics and pricing intelligence leader — announced the successful close of its $5.5 million Series B funding round from new investors Cornerstone Fund (CSVP Fund) and Calibre Ventures. Existing investors MegaDelta Capital Advisors (formerly known as NEA India) and Orios Venture Partners also participated in this round. Including this round, the company has raised a total of $10.6 million since being founded.
“We find ourselves at an unprecedented inflection point where we have reached the cusp of product maturity and market readiness, and are looking to raise Series C funding shortly,” said Intelligence Node CEO Sanjeev Sularia. “With the significant diminishing of competitors, the timing could not be better for us to bring on the right strategic partner and growth capital to set us up for our next phase of steep revenue trajectory.”
With this round of funding, Intelligence Node will accelerate its goal of capitalizing on a unique market opportunity. By gathering and analyzing billions of data points across e-commerce sites, direct marketing, social media, and brick-and-mortar stores, Intelligence Node has created one of the world’s largest database of product pricing and promotion information.
“We are seeing really good momentum in the market for Intelligence Node’s AI-enhanced retail pricing solutions,” added CSVP Fund managing partner Abhishek Prasad. “The brand itself has established clear leadership in the retail technology space on a global scale and the executive team, led by CEO and Co-Founder Sanjeev Sularia, has done an amazing job molding Intelligence Node into an industry force to reckon with, especially in the U.S. Cornerstone is excited about this partnership and is convinced that the startup will double in value by 2020.”
Intelligence Node’s pricing architecture analysis compares the pricing of retail assortments, categories or products side-by-side thus revealing actionable pricing gaps. And Intelligence Node’s Minimum Advertised Price (MAP) monitoring solution is raising the bar for retail analytics by helping businesses identify unauthorized sellers and prevent sales of counterfeit products — which is a large and growing pain point for today’s retail businesses.
“We are firm believers of the transformative impact that analytics and big data can have on enterprise decision making. Furthermore, Intelligence Node has demonstrated through its highly reputed global clientele that cutting edge technologies for pricing intelligence that are productized for rapid scalability is a massive opportunity. Since the initial investment in 2015, we have witnessed how interest in Intelligence Node’s product and the value it brings for retailers and brands continues to explode,” explained MegaDelta Capital managing partner Tarun Sharma. “The team has leapt forward with a disciplined vision, acquiring several category leaders as notable clients in the process. We are confident that with this additional investment, Intelligence Node will be able to continue expanding its product leadership and accelerate its growth and penetration into the retail market.”
Intelligence Node is also planning to use the funding to grow in the U.S. and make new senior leadership hires in sales and marketing. Intelligence Node works with more than 150 retailers and brands worldwide and it works with category leaders like Li&Fung, Tesco, Westwing, Reliance, Mobly, Landmark, and Jockey.
