has closed a $25 million round of financing led by Updata Partners, a software-focused growth equity firm based in Washington, D.C., and joined by Ibex Investors, CEIIF, the venture arm of CreditEase, and Gefen Capital. This takes its total capital raised since inception to $32.5 million.
The investment will fuel Glassbox’s hyper-growth globally while accelerating product development efforts related to its automatic insight capabilities.
“While successfully serving some of the largest and most digitally mature enterprises in the world, the company now has the capital to scale up ahead of exponentially increasing demand from our existing and future customers,” said Yaron Morgenstern, CEO at Glassbox. “We believe Updata’s investment and expertise in growing leading enterprise software companies will enable us to become the unrivaled leader in digital customer management.”
From the beginning, Glassbox architected its technology platform to capture all activity in real time, an approach that today allows for Digital Customer Management use cases and needs that others in the market struggle to address. For example, Glassbox’s platform is a single collaborative solution for business and IT teams to optimize digital customer experiences across web, mobile web, and mobile app.
This approach, coupled with an advanced application of machine learning in the digital analytics space, enables Glassbox to surface automatic insights, resulting in unmatched ROI for customers. Leading enterprises are leveraging the Glassbox platform to optimize web and mobile customer experiences, identify and fix IT performance issues, address risk management and compliance use cases, and guide real-time customer support in contact centers.
“Glassbox serves some of the world’s largest and most demanding enterprises, which gives us confidence the platform is proven and there is tangible ROI for customers” said Carter Griffin, General Partner at Updata Partners. “Updata is excited to work alongside management to build on this existing momentum and support the company’s investment in expanding both the go-to-market and product.”
Braden Snyder, Vice President at Updata Partners added, “Digital channels for enterprises are becoming increasingly important, often a differentiator, and greater visibility into customer experience, conversion, and performance is top of mind. Glassbox’s unique ability to capture 100% of the largest enterprises’ digital activity in real-time across web, mobile, and mobile app is what gets us excited to partner with Glassbox and for the opportunity ahead.”
As part of the transaction, Griffin and Snyder will join Glassbox’s board of directors.
Glassbox was founded in 2010 by Yoav Schreiber, Yaron Gueta and Hanan Blumstein and has offices in London, New York, and Tel Aviv.