Israeli-founded big data analytics company Glassbox, a provider of digital experience analytics for web and mobile applications, announced on Thursday that it has completed its initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE).
The company had a pre-money valuation of $350 million.
“This is a significant milestone for Glassbox that represents our commitment to growth in the near term and provides the resources to fuel innovation towards our unique AI-driven vision for Experience Intelligence,” said Yaron Morgenstern, CEO, Glassbox. “I’m incredibly proud of the accomplishments and success of our diverse global team and am energized by the opportunity to continue fulfilling our mission of helping global enterprises deliver frictionless digital journeys to their customers.”
Glassbox is backed by Alicorn Global Ventures, the global venture arm of Arowana International, the established B corporation accredited investment group. Alicorn Global Ventures, which invests in late-stage tech companies, has invested $9 million in Glassbox since May 2020, the VC firm says.
Founded in 2010 by Yoav Schreiber, Yaron Gueta and Hanan Blumstein, Glassbox provides businesses with big-data behavioral solutions and content analytics solutions for web and mobile apps. The company’s platform is designed to capture, record, analyze, and replay digital sessions with customers.
Headquartered in the UK, the company has developed technology encompasses Traditional Web Analytics and Application Performance Management (APM), providing real-time analysis to identify issues and improve digital customer experience.
The company already supports over one trillion web and mobile customer journeys annually for the world’s best known brands across numerous industries, including four out of ten of the world’s largest banks (by market cap), the world’s largest hotel chain, and some of the world’s largest retail, travel, and healthcare providers.
With the new funding, Glassbox will expand its global presence and reach — both organically and through acquisition — beyond its current customer base, while continuing to add new talent and invest in continued technology innovation for its SaaS (software-as-a-service) platform.
Previous investors include Ibex Investors, Brighton Park Capital and Updata Partners.
“This IPO funding will allow Glassbox to maintain its impressive momentum as a high growth SaaS company in a rapidly evolving digital market,” said Brian Abrams, Chairman of the Glassbox Board of Directors. “Not only could Glassbox become a leading player in its space, this IPO could also trailblaze an exciting new path for Israeli companies on their way to NASDAQ.”