Glassbox, an Israeli company that provides digital analytics for web and mobile applications, has filed for an initial public offering on the Tel Aviv Stock Exchange (TASE). According to a report in Globes, the company expects to raise $50-70 million from its TASE IPO which would give it a total valuation of about $350 million.
Founded in 2010 by COO Yoav Schreiber, Yaron Gueta and Hanan Blumstein, Glassbox boasts that it empowers organizations to create frictionless digital journeys for their customers. “Our digital experience analytics platform works in real time, across mobile apps and websites, to accelerate customer loyalty and business growth,” states the company.
Glassbox says that its mission is to help Enterprises prepare for the digital unknown. This is done via the first analytics platform to automatically record, index and analyze 100% of digital interactions. Glassbox lets large enterprises and midmarket organizations, “intuitively align their digital experiences with actual customer expectations, providing greater brand affinity, loyalty, satisfaction and safety.” Glassbox explains that it visualizes every customer journey and interaction in real-time and provides actionable insights so companies can quickly adjust or modify their experience to satisfy customer demands.
In 2020, the company posted $31 million in revenue, up 40% from 2019. However, this constituted a net loss of $14 million. But that can be explained by worldwide recession caused by the Covid pandemic.
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— Glassbox (@GlassboxDigital) May 17, 2021
Some say that Glassbox is a good bet for future growth seeing how just last October the company acquired its British competitor SessionCam, a digital customer experience provider, for $20 million.
At the time of the acquisition the Glassbox CEO Yoram Morgenstein said, “Our acquisition of SessionCam advances our mission to provide greater insight and value into how companies engage with their customers online by creating frictionless digital journeys. We found a true partner and shared set of values with SessionCam, and we are excited to welcome such a hardworking and talented team that has worked for a decade to improve the digital experience of millions of people across the world.”