Intelligence Node, a NYC-based retail analytics and pricing intelligence company, raised $5.5M in Series B funding.
Backers included Cornerstone Fund (CSVP Fund), Calibre Ventures and existing investors MegaDelta Capital Advisors (erstwhile NEA India funds) and Orios Venture Partners.
The company, which has raised $10.6m in total funding to date, will use the funds to accelerate growth expanding its presence in the West Coast, targeting San Francisco as a potential location for its next sales and operations home base and hire new people.
Founded in 2012 by Sanjeev Sularia, chief executive officer, Intelligence Node gathers and analyzes billions of data points across eCommerce sites, marketplaces, brick and mortar stores, direct marketing and consumer social media to provide a large database of product pricing and promotion information.
Its Minimum Advertised Price (MAP) monitoring solution helps retailers to identify unauthorized sellers and prevent sales of counterfeit products, a large and growing pain point for today’s retail businesses.
The company currently serves more than 150 retailers and brands worldwide, partnering with category leaders like Li&Fung, Tesco, Westwing, Reliance, Mobly, Landmark, and Jockey.