Private Equity

PE Fund Investments

Netcore Cloud acquires E-Commerce search co Unbxd for $100-M

Co. announcement   INC42  

IPO-bound SaaS platform Netcore Cloud has acquired a majority stake (reportedly 90%) in the Bangalore- and USA-based search personalisation company Unbxd for about USD 100 million. Unbxd's AI-powered search expertise is expected to equip Netcore Cloud to deliver a real-time recommendation to its online ecommerce or app-first brand and retail customers. Unbxd's founders and key management will continue with the company post-deal. Founded in 2012 by Pavan Sondur and Prashant Kumar, Unbxd builds AI-powered product discovery suites. Its search solutions are claimed to improve retention and conversions for e-commerce retailers and B2C brands. Its customers include Mattress Firm, Express, Ashley Homestore, Home Shopping Network, Advance Auto Parts, The Children's Place, Mitre10 and Kookai.

From the Venture Intelligence PE-VC Deal Database: Between Oct-2013 and Sep-2019, Unbxd had raised over USD 25 M from Inventus Capital, Chiratae Ventures, Eight Roads Ventures, Kris Gopalakrishnan, Nirvana Ventures, Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)