According to the firm, Glassbox, an Israeli supplier of digital experience analytics for online and mobile applications, has finished its initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE).
Nearly $500 million is the company’s post-listing value as per levingstonbloomberg. Glassbox, which was founded in 2010 by Yoav Schreiber, Yaron Gueta, and Hanan Blumstein, was named by G2 as a leader in three categories in 2021. These are namely, digital journey analytics, session replay and Customer analytics. Ibex Investors, Brighton Park Capital, and Updata Partners have all previously invested.
“It is a significant breakthrough for Glassbox that showcase the decision of commitment towards development in the short term and offer resources to drive innovation towards the unique AI-driven vision for Experience Intelligence,” as per a statement by Yaron Morgenstern, CEO of Glassbox.
For the most well-known brands in the world’s most popular industries, including four out of ten of the largest financial institutions (by market cap), the biggest hotel chain in the world, and some of the biggest names in retail, travel, and healthcare, Glassbox already supports over one trillion web and mobile customer journeys annually. With the additional capital, Glassbox will broaden its worldwide footprint and reach beyond its present clientele, both organically and through acquisitions and will keep on hiring new employees and investing in SaaS (software-as-a-service) platform technology innovation.
To assist businesses like Air Canada and SoFi Technologies Inc. enhance customer experiences online and increasing the possibility that a transaction will be made, Glassbox analyses billions of interactions each month. According to Chief Executive Officer Yaron Morgenstern, customers often save $5 for every $1 they spend on the company’s services by not losing out on potential sales through their digital channels. The business claimed to have attained $35 million in annual recurring sales in the first quarter of 2021 in an investor presentation.
Following a series of measures by the exchange and regulators to draw more firms to the market, Tel Aviv’s stock exchange experienced a surge in listings last year. According to information gathered by Bloomberg, the Glassbox IPO will mark the fourth business to begin trading in Tel Aviv this year. The business added that it may list in New York during the coming years.
Prior investors in Glassbox include Ibex Investors, Brighton Park Capital, and Updata Partners. Glassbox was founded in 2010.