Highlights
Cornerstone Ventures Achieves Successful Exit with Intelligence Node
Cornerstone Ventures, a venture capital firm with a focus on Software as a Service (SaaS), has accomplished a significant exit by divesting from Intelligence Node, a leading platform in retail analytics and artificial intelligence. This successful exit was realised through an acquisition valued at $100 million (Rs 849.5 crore) by the international advertising firm Interpublic Group (IPG).
This transaction represents the second exit for Cornerstone Ventures Fund I, following the acquisition of Wigzo Technologies by the logistics unicorn Shiprocket in 2021. To date, the fund reports that it has returned approximately 20% of the total corpus raised, and anticipates further liquidity events from several of its remaining 19 portfolio companies in the near future.
Future Expectations
Abhishek Prasad, managing partner of Cornerstone Ventures, shared that the fund aims to return roughly 100% of the corpus in the next 18 to 24 months, with expectations of delivering a total return multiple of 3.5 to 4X over its lifespan, which extends another five years.
About Intelligence Node
Established in 2012, Intelligence Node provides AI-powered solutions that assist businesses in enhancing their digital shelf presence and refining their pricing strategies.
Portfolio Highlights
Cornerstone Ventures’ portfolio includes distinguished companies in the Service SaaS arena, such as:
- ManageArtWorks
- THB
- EnParadigm
- WatchYourHealth
- Credit Nirvana
Additionally, it features SaaS + Marketplace models like:
- Blubirch
- Credilio
- Mystifly