PromoteIQ acquired by Microsoft
PromoteIQ, the automated vendor marketing platform for retailers and brands, has been acquired by Microsoft. The terms of the transaction were not disclosed. “Our combined entities have a tremendous opportunity to redefine and deliver the next generation of vendor marketing to retailers and brands. Microsoft brings industry-leading AI and machine-learning capabilities, as well as a strong global retail market footprint. We’ll have more plans to share on this front in the coming months, but we are confident that this acquisition will accelerate PromoteIQ’s growth and expand Microsoft’s reach and scale globally,” remarked Alex Sherman and Peter Schwartz, Cofounders of PromoteIQ.
Price: Terms not disclosed
Selected investors in the round: Laconia, Nauta Capital
Founding year: 2012
Total funding raised: $6.5M
Time from founding to exit: 7.6 years
Full coverage: PromoteIQ acquired by Microsoft
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