Glassbox, a provider of AI-driven customer intelligence solutions, is set to be acquired by Alicorn Venture Partners in an all-cash transaction valued at approximately US$150 million.

Following the acquisition, Glassbox will transition into a private company, with the existing management team, led by CEO Yaron Morgenstern, remaining at the helm.

Alicorn Venture Partners has been a long-standing investor in Glassbox, and this latest investment reaffirms their confidence in the company's corporate strategy and market potential. Glassbox plans to continue its work with digital brands across various sectors to capture online customer data and enhance digital experiences in real time.

"The Glassbox team are pioneers in integrating AI to revolutionise customer interactions," said Managing Partner of Alicorn, Alexander Assim. This sentiment was echoed by Morgenstern, CEO of Glassbox.

"Today's announcement marks an exciting and pivotal time at Glassbox. Alicorn, a cornerstone investor since our early days, has renewed their commitment with this powerful backing, underscoring their strong belief in our vision for the future. This investment not only validates our cutting-edge AI innovations and robust customer intelligence platform, but also enhances our capacity to meet the evolving needs of our global clientele," he said. "With Alicorn's support, we are ideally positioned to further accelerate our growth and continue leading innovation within the digital experience space."

Glassbox's clientele includes Marriott Hotels & Resorts, Quicken, Inc., Credit.com, Danone, L'Oreal, Nestle, Ace Hardware, Air Canada, and 60% of the world's largest banks. The company's ability to capture and analyse customer data in real time has made it a valuable asset for these major brands, and Alicorn's investment is about further enhancing its capabilities.

"We share the company's vision for the future of customer intelligence, making Alicorn the ideal partner to help scale Glassbox, as we cater to the increasing demand from large enterprises looking for significant improvements in digital experiences. We are enthusiastic about supporting Glassbox's continued growth as a leader in this industry and using our operational expertise to elevate the company to new heights," added Assim.

The transaction is expected to close in Q3 2024, subject to approval by Glassbox shareholders and other customary closing conditions. Upon completion of the transaction, Glassbox will no longer be traded or listed on any public securities exchange. Glassbox is represented in this transaction by Herzog Fox & Neeman; Alicorn is represented by Fischer (FBC & Co.).