Cornerstone Ventures Exits Intelligence Node with USD 100 Mn Acquisition by IPG This marks a significant milestone for Cornerstone Ventures, which had earlier exited Wigzo Technologies, acquired by logistics unicorn Shiprocket in 2021.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Cornerstone Ventures, a leading SaaS-focused venture capital firm, has announced its successful exit from Intelligence Node, a retail analytics and AI platform, through a USD 100 million (INR 849.5 crore) acquisition by global advertising giant Interpublic Group (IPG).
This marks a significant milestone for Cornerstone Ventures, which had earlier exited Wigzo Technologies, acquired by logistics unicorn Shiprocket in 2021.
Abhishek Prasad, Managing Partner at Cornerstone Ventures, said, "With just two exits, the fund has returned ~20% of the corpus raised. Several of the remaining 19 portfolio companies are approaching liquidity events, and we expect to return ~100% of the corpus over the next 18-24 months. Overall, the fund aims to deliver a 3.5-4X multiple over its lifetime."
Founded in 2012, Intelligence Node has pioneered AI-driven solutions that empower businesses to optimise digital shelf presence and pricing strategies. Its innovative approach has transformed global retail by enhancing pricing, product content, and assortment strategies for top-tier retailers. Joining forces with IPG will enable Intelligence Node to expand its reach and deliver enhanced value through IPG's extensive resources and global network.
Nanika Kakkar, Partner at Cornerstone Ventures, added. "We have always been excited about Intelligence Node's focus on addressing a well-defined global need. The acquisition by a US-listed advertising conglomerate reflects the value the company has created and aligns with our thesis of investing in early-growth-stage companies building in India for the world. We are thrilled with this outcome and look forward to Intelligence Node's continued success under IPG."
Sanjeev Sularia, CEO of Intelligence Node, acknowledged Cornerstone Ventures' role in accelerating the company's growth. "We have always focused on empowering our clients with data-driven insights that drive real business value. Our partnership with Cornerstone Ventures was instrumental in bringing innovative solutions to a broader market. This acquisition by IPG is a key step in our journey, opening new opportunities for our company and clients alike."
Cornerstone Ventures' portfolio reflects its focus on high-growth technologies, including notable players like ManageArtWorks, THB, EnParadigm, WatchYourHealth, and Credit Nirvana. The firm also invests in SaaS + Marketplace models such as Blubirch, Credilio, and Mystifly, further cementing its position as a key player in India's burgeoning SaaS ecosystem.
