๐Ÿš€ Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. ๐Ÿ”ฅ
Login

News on Medial

Cornerstone Ventures bags $100 Mn exit from Intelligence Node

EntrackrEntrackr ยท 11m ago
Cornerstone Ventures bags $100 Mn exit from Intelligence Node
Medial

Cornerstone Ventures, a SaaS-focused venture capital, has successfully exited Intelligence Node, a retail analytics and AI platform. The exit was achieved through a $100 million (Rs 849.5 crore) acquisition by global advertising giant Interpublic Group (IPG). The exit follows Intelligence Nodeโ€™s acquisition by global advertising powerhouse Interpublic Group (IPG). This marks the second exit for Cornerstone Ventures Fund I (after Wigzo Technologies was acquired by logistics unicorn Shiprocket in 2021). With just two exits, the fund claims to have returned around 20% of the corpus raised and has several of the remaining 19 portfolio companies coming up for liquidity events in the near term. According to Cornerstone Venturesโ€™ managing partner Abhishek Prasad, the fund expects to return around 100% of the corpus over the next 18-24 months, and overall deliver a 3.5-4X multiple through its lifetime (another 5 years to go). Founded in 2012, Intelligence Node has AI-driven solutions that empower businesses to optimize their digital shelf presence and pricing strategies. Cornerstone Venturesโ€™ portfolio includes notable 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.

6

Related News

Cornerstone Ventures launches Fund II at $200 Mn

EntrackrEntrackr ยท 1y ago
Cornerstone Ventures launches Fund II at $200 Mn
Medial

Venture capital firm Cornerstone Ventures has announced the launch of its second fund with a target size of $200 million including a green-shoe option of $50 million. The fund ticket sizes range from $5 million to $15 million in a mix of early- to growth-stage startups. As per Cornerstone, it plans to invest in 15-20 startups with the latest fund. The Mumbai-based firm plans to invest across software platforms and marketplaces operating in sectors such as financial services and insurance, retail, consumer goods and ecommerce, distribution and supply chain, and healthcare products and services. Its portfolio companies of the first fund includes Credilo, THB, Blubirch, and Dhiway. The fund claims to have facilitated $1-2 million additional annual recurring revenue for each of its portfolio companies and been an active participant in their respective growth journeys. The firm first launched Cornerstone Ventures Fund-I in 2019 with a size of about $50 million. The fund was deployed across 21 portfolio companies, primarily focused on B2B enterprise software-as-a-service business models.

Irame.ai bags $1 Mn in seed round from SenseAI Ventures

EntrackrEntrackr ยท 8m ago
Irame.ai bags $1 Mn in seed round from SenseAI Ventures
Medial

Irame.ai, an AI-powered enterprise productivity and audit intelligence platform, has secured $1 million in its seed round from SenseAI Ventures, an AI-first venture capital fund. The proceeds will be used to accelerate Irame.ai to transform audit automation, anomaly detection, and enterprise compliance through AI-driven insights. Founded by Kapil Arora, Irame.ai streamlines the knowledge processing and forecasting process. The framework enables users to design, develop, and launch AI-driven applications without coding. Its approach claims to deliver audits up to 3-4x faster while significantly reducing costs helping enterprises modernize governance with efficiency. Built by Rahul Agarwalla and Raja Gopalakrishnan SenseAI Ventures is a Rs 200 crore fund.

Download the medial app to read full posts, comements and news.