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Ecommerce software platform, Assembly has announced the acquisition of Chennai-based market intelligence company, PipeCandy.
With this move, PipeCandy has become the first Indian vertical DaaS company to be taken by a US entity. It is the largest vertical-focused data organization in India which covers almost 5.4 million ecommerce brands, out of which 250,000 are DTC brands.
Sources further inform that the move marks Assembly’s seventh acquisition including Refersion, Helium 10 and Pacvue. The firm already has a wide dataset that ranges from marketplace to social and affiliate commerce performance of merchants.
Ben Collier, Product Head at Assembly, said that joining hands with PipeCandy will allow Assembly to view e-commerce performance of numerous brands. PipeCandy is equipped with the best data sets on DTC e-commerce in the industry and Assembly now has the authority to oversee omni-channel e-commerce market intelligence.
PipeCandy analyzes and evaluates complex DTC market datasets and provides insights to investors, marketers, analysts, financial institutions, and sales and tech teams.
Ashwin Ramasamy, the co-founder of PipeCandy, said that the company quintupled the coverage through 2021 and their customers included some most significant companies and brands in the lending, financial services, Software-as-a-Service (SaaS) and logistics sector.
Being a major part of Assembly will extend PipeCandy’s position as the largest and most accurate dataset on e-commerce and direct-to-customer companies.
He also added that, this partnership will help PipeCandy to scale its product and business insight offerings for numerous brands and e-commerce operators.
Apart from this, PipeCandy will continue to run as an independent company. The organization is looking forward to developing more products and doubling its team size from approximately 60 members to about 120 in the upcoming months.
Ramasamy also stated that there is no change in the company’s outlook and identity or on how to operate, except that PipeCandy now has access to more data which will help merchants to excel in their businesses.
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