Mumbai: Cornerstone Ventures, a SAAS-focused venture capital firm, has announced its successful exit from Intelligence Node, a pioneering AI-driven retail analytics platform, following its acquisition by global advertising giant Interpublic Group (IPG). This marks the second successful exit for Cornerstone Ventures’ Fund I.
Cornerstone Ventures first invested in Intelligence Node in 2019, recognizing the company’s innovative approach to helping global retailers optimize pricing, product content assortment, and decision-making using cutting-edge analytics. Founded in 2012, Intelligence Node has grown to become a leader in the retail tech space, serving an expanding list of top-tier retail brands across the globe.
“We have always been excited about Intelligence Node’s focus on a well-defined global need. The company has been able to deliver tangible customer benefits enabling improved margins and competitiveness for its customers, over the years,” said Nanika Kakkar, Partner at Cornerstone Ventures. “The acquisition reflects the value the company could create for the advertising conglomerate. This is a testament to our investment thesis where we invest in the early-growth stage of a company building in India for the world, especially given that the buyer is a listed company in the US! We are pleased with the outcome of our partnership and look forward to their continued success under IPG.”
The acquisition, valued at approximately $100 million, including integration costs, underscores Intelligence Node’s significant role in the retail ecosystem. By joining IPG, the company will expand its reach, delivering even greater value to clients through IPG’s vast resources and global network.
“We have always focused on empowering our clients with data-driven insights that can drive real business value,” said Sanjeev Sularia, CEO of Intelligence Node. “Our partnership with Cornerstone Ventures played a significant role in accelerating our growth and bringing these innovative solutions to a broader market. This acquisition by IPG marks a key step in our journey, opening up new opportunities for our company and clients alike.”
Cornerstone Ventures’ portfolio includes high-growth players in the Service SaaS space, such as ManageArtWorks, THB, EnParadigm, WatchYourHealth, and Credit Nirvana, as well as SaaS + Marketplace models like Blubirch, Credilio, and Mystifly. These investments reflect the firm’s focus on technologies that drive efficiency and scalability, positioning it as a key player in the venture capital space.
