Banzai, a marketing technology firm, has signed a non-binding letter of intent to acquire Boast, a platform for video-based customer testimonials and surveys.

This move is the latest in a series of Letters of Intent (LOIs) signed by Banzai, following IGLeads and Cliently earlier this month.

Boast is a profitable marketing technology business with over 500 customers, including notable names such as HubSpot, Whole Foods, Blue Cross Blue Shield, Blink, and The North Face. The platform enables businesses to collect and leverage customer feedback to enhance sales and improve brand affinity. Financial tersm of the deal have not been disclosed.

The integration of Boast's technology into the Banzai ecosystem is expected to enhance the company's engagement and video solutions like Demio, and open up cross-sale opportunities by leveraging Boast's existing client base.

“Boast is optimising the way businesses of all sizes generate and cultivate their online presence. Video is one of the most powerful tools for trust and conversion, and it’s a category we know well," Banzai CEO and Founder, Joe Davy, said. "Ryan and his team have built a very impressive business which we’re excited to have the opportunity to own. Integrating Boast into the Banzai ecosystem would represent a key step forward in our strategy to consolidate mission-critical MarTech solutions through acquisition.”

Boast has been self-funded since its inception and operates on a subscription-based business model, a factor that could potentially increase Banzai's recurring revenue.

Boast President and Co-Founder, Ryan Doom, expressed his enthusiasm for the potential acquisition. “We started Boast with the mission to build the best customer experience survey and feedback collection tools possible; this acquisition would be a testament to our success in achieving our goal. We are excited at the possibility of Boast joining Banzai as they transform the MarTech landscape through their innovative and data-driven approach.”

Banzai's customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. The potential acquisition of Boast could further strengthen Banzai's position in the martech landscape.