Cornerstone Exits Node for Startup Intelligence in Retail Analytics

OVERVIEW After IPG acquired Intelligence Node, Cornerstone Ventures made its second exit from Fund I. The exit is made possible by a $100 million (INR 849.5 crore) acquisition agreement with the multinational advertising conglomerate Interpublic Group. NEA, Orios Venture Partners, and BlackSoil Capital are among the investors that Intelligence Node has previously raised $10.25 million from in several rounds.After the global advertising conglomerate Interpublic Group (IPG) acquired retail analytics startup Intelligence Node, SaaS-focused venture capital firm Cornerstone Ventures announced its departure from the business. Additionally, this is the second exit for Fund I of Cornerstone Ventures, which made its initial investment in Intelligence Node in 2019.Intelligence Node's emphasis on a clearly defined worldwide need has always thrilled us. Over the years, the business has been able to provide measurable consumer benefits that have allowed its clients to increase their margins and level of competition," said Nanika Kakkar, a partner at Cornerstone Ventures. Including integration expenses, the deal was valued at about $100 million (INR 849.5 crore).

The transaction highlights Intelligence Node's strategic significance in the changing retail landscape, especially given that the company's AI-powered platform presently analyzes more than 1.2 billion products from 190K businesses globally.Since its founding in 2012, Intelligence Node has created a range of AI and machine learning-based solutions to assist companies in optimizing their pricing and digital shelf presence. The platform generates over $600 billion in revenue globally and boasts a 99% product matching accuracy thanks to its unique AI algorithms. According to Sanjeev Sularia, CEO of Intelligence Node, "We have always focused on empowering our clients with data-driven insights that can drive real business value." "Our collaboration with Cornerstone Ventures was crucial in propelling our expansion and expanding the market for these cutting-edge products. An important milestone in our journey has been reached with this IPG acquisition, which presents new prospects for both our business and our clientsBy partnering with IPG, Intelligence Node will take advantage of the global network of the advertising behemoth to increase its reach and provide customers with better value.