SaaS Platform Netcore Cloud Invests $100 Million in Unbxd, Acquires Majority Stakes in the Company

Key Takeaways:

  • Netcore Cloud has invested around $100 million for a major stake in Unbxd
  • Netcore is tipped to make additional investments in Unbxd to fuel its growth in the developed regions
  • Once the acquisition is through, reports suggest that there won’t be any changes in Unbxd’s management
  • The firm’s core management team and founders will continue to help the company expand after the acquisition. 

Netcore Cloud, the IPO-bound  SaaS vendor has announced that it has acquired around 90% stake in US-based search personalization company Unbxd. 

Netcore has invested a sum of around $100 million to complete the acquisition of Unbxd. 

SEE ALSO: Private Equity Firm Thomas Bravo Acquires Software Company Anaplan for $10.7 Billion

How does this acquisition help Netcore? What can we expect?

The acquisition will help Netcore establish itself as one of the leading digital experience platforms on a global scale. According to the statement released by the company, Unbxd’s AI-powered search solution is a great addition to Netcore Cloud. 

Unbxd’s solution will help Netcore Cloud deliver real-time recommendations to retailers and e-commerce customers. 

Although Netcore did not disclose the acquisition stake, a media report from Bloomberg suggests that the company has acquired a 90% stake in Unbxd Inc. 

In addition, Unbxd’s management is expected to remain the same as the key management team and the founders will continue to help the company grow. 

Unbxd will operate as an independent entity. Reports also suggest that Netcore will continue to rope in investments in Unbxd to accelerate growth in the developed markets. 

Kalpit Jain from Netcore Cloud commented on the acquisition and said that Unbxd’s ML tech stack will allow Netcore’s customers to closely track the shopper’s interactions with search. 

Kalpit said that as far as business growth is concerned, they see a considerable increase in customer base and revenue in the U.S. market. He added that they have been growing their platform business by 40-50% year-on-year over the past three years. 

The recent investment will help Netcore turn its attention toward expanding its presence in the developed regions of the world including North America and Europe. 

Besides, Netcore will also implement site-wide merchandising, personalization, coupled with shopper-centric recommendations. 

More about Unbxd

Unbxd Inc was founded in 2012 by Prashant Kumar and Pavan Sondur. The company designs and develops advanced AI-powered product delivery suites.

Their search platform enhances conversions and retention for B2C brands and e-commerce retailers.

Unbxd’s stellar list of clients includes Ashely Homestore, Home Shopping Network, Advance Auto Parts, and more. 

SEE ALSO: MoxiWorks Completes Acquisition of Lead Nurturing Platform ActivePipe

Feature Image Source: rawpixel.com

Karandeep V

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency.  At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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