About PromoteIQ
PromoteIQ is a company based in New York (United States) founded in 2016 by Alex Sherman and Peter Schwartz was acquired by Microsoft in August 2019.. PromoteIQ has raised $6.51 million across 2 funding rounds from investors including Microsoft, Nauta Capital and Laconia Capital Group. The company has 40 employees as of December 31, 2022. PromoteIQ offers products and services including Product Listing Ads, Banner Ads, Sponsored Brands, Offsite Ads, and Microsoft Retail Media Creative Studio. PromoteIQ operates in a competitive market with competitors including Klaviyo, Elastic Path Software, Yotpo, Bango and Demandware, among others.
- Headquarter New York, United States
- Employees 40 as on 31 Dec, 2022
- Founders Alex Sherman, Peter Schwartz
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Sectors
RetailTechnology
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Email
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Phone
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Website
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Social
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- Legal Name Spotfront Inc.
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Products & Services of PromoteIQ
PromoteIQ offers a comprehensive portfolio of products and services, including Product Listing Ads, Banner Ads, Sponsored Brands, Offsite Ads, and Microsoft Retail Media Creative Studio. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Promotes individual products on retail sites for targeted sales.
Displays visual ads to increase brand recognition and product visibility.
Features multiple products to drive awareness and conversions.
Extends campaigns to third-party sites for broader shopper reach.
Generates ad creatives using AI for optimized campaign performance.
Funding Insights of PromoteIQ
PromoteIQ has successfully raised a total of $6.51M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $3.4 million completed in October 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $3.4M
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First Round
First Round
(28 Apr 2017)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Oct, 2018 | Amount | Series A - PromoteIQ | Valuation |
investors |
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| Apr, 2017 | Amount | Series A - PromoteIQ | Valuation | Nauta Capital , Laconia |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in PromoteIQ
PromoteIQ has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Microsoft, Nauta Capital and Laconia Capital Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital firm focused on B2B SaaS solutions, enterprise tech, and deeptech applications
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Founded Year | Domain | Location | |
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Seed-stage funding is provided to US tech companies by Laconia.
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Founded Year | Domain | Location | |
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Microsoft is recognized for software, hardware, and gaming solutions.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by PromoteIQ
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - PromoteIQ
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Promoteiq Comparisons
Competitors of PromoteIQ
PromoteIQ operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Klaviyo, Elastic Path Software, Yotpo, Bango and Demandware, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
SaaS email marketing solutions are offered to e-commerce businesses.
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| domain | founded_year | HQ Location |
API-based enterprise commerce and content management platform is delivered.
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| domain | founded_year | HQ Location |
Cloud-based marketing platform for e-tailers
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| domain | founded_year | HQ Location |
Marketing solutions for e-commerce businesses are provided by Bango.
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| domain | founded_year | HQ Location |
Enterprise cloud commerce solutions are provided for retailers and manufacturers.
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| domain | founded_year | HQ Location |
AI platform for retail ecommerce management and optimization is provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Promoteiq
Frequently Asked Questions about PromoteIQ
When was PromoteIQ founded?
PromoteIQ was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is PromoteIQ located?
PromoteIQ is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of PromoteIQ?
Alex Sherman is the current CEO of PromoteIQ. They have also founded this company.
Is PromoteIQ a funded company?
PromoteIQ is a funded company, having raised a total of $6.51M across 2 funding rounds to date. The company's 1st funding round was a Series A of $3.11M, raised on Apr 28, 2017.
How many employees does PromoteIQ have?
As of Dec 31, 2022, the latest employee count at PromoteIQ is 40.
What does PromoteIQ do?
Founded in 2016 and based in New York, United States, PromoteIQ operates in the retail software sector. Retailers are connected with brand partners through its platform to handle product promotions on-site. Services encompass pricing and inventory management, reporting, analytics, and campaign tracking for insights. Ad inventory is marketed to brands, which can execute promotions across retailer networks. Clients such as Kohls and Triad are served.
Who are the top competitors of PromoteIQ?
PromoteIQ's top competitors include Klaviyo, CommerceIQ and Yotpo.
What products or services does PromoteIQ offer?
PromoteIQ offers Product Listing Ads, Banner Ads, Sponsored Brands, Offsite Ads, and Microsoft Retail Media Creative Studio.
Who are PromoteIQ's investors?
PromoteIQ has 3 investors. Key investors include Microsoft, Nauta Capital, and Laconia Capital Group.