Capital Gain

Glassbox files for TASE IPO at $350m valuation

Published: in FINANCE by .

Israeli software company Glassbox has filed a prospectus for an IPO on the Tel Aviv Stock Exchange (TASE). Market source believe that the company will try to raise $50-70 million at a company valuation of about $350 million.

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. International customers include Citibank, Wells Fargo, Verizon and Expedia.

The company was founded in 2010 by Yaron Gueta, Hanan Blumstein and Yoav Schreiber, who all hold senior executive positions with the company while Yaron Morgenstern, a former senior executive with NICE Systems, has served as CEO since 2015. The company has 260 employees.

The IPO is being led by the underwriting company of Poalim IBI.

Major investors in Glassbox include Brighton Park Capital, Updata Partners and Ibex Investors. Glassbox says that it plans a Nasdaq offering several years after the TASE IPO.

Glassbox had $31 million revenue in 2020, up 40% from 2019, and a net loss of $14 million, similar to the previous year. In late 2020, Glassbox acquired UK rival SessionCam for $20 million.

Published by Globes, Israel business news – – on May 19, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

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