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CommerceIQ's Guru Hariharan on Pivoting When You're in the Wrong Market
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In this episode of Founded and Funded, Managing Director Scott Jacobson is talking with CommerceIQ CEO Guru Hariharan. CommerceIQ is a retail e-commerce management platform that automates and unifies category analytics, retail media management, and sales and operations all under one roof. The company secured $115 million in funding in March and just made its first acquisition — e-fundamentals — to expand into digital shelf analytics. The acquisition actually brings the company around full circle in a sense. CommerceIQ was originally Boomerang Commerce, which was a dynamic pricing software for multi-brand retail companies to better compete with the likes of Amazon. But Guru realized that despite the quality of that software and the A+ team he'd pulled together, he was trying to grow a business in an F market. He ended up pivoting the entire company to what is now CommerceIQ, selling the Boomerang business to Lowe's. Scott and Guru dive into what went into navigating those turbulent times, what it takes to be a vertical SaaS company, and Guru's realization that he couldn't solve every problem as though it were a math problem.
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