A lot of attention is being paid to how some technical services experience a surge in demand during the coronavirus pandemic – for example, streaming services and other online media and everything related to the delivery of food use unprecedented scale. News is coming from another startup today that highlights another important aspect of technology company development. With many now staying at home, online services are experiencing new levels of "stress testing" and sometimes find it urgent that the user experience fails or could be better.
Glassbox – Provides businesses with analytics and other tools Online customer interfaces to track how they're used and when they're not working, and to offer suggestions on how to fix them, today announce that they have 40 million US dollars in funding, money they will use to further develop their technology. The business as a whole.
The financing, a Series C, is managed by Brighton Park Capital, in which existing investors Updata Partners, Ibex Investors, Gefen Capital and CEIIF also participate. The London-based startup has now raised $ 70 million and is not posting a review.
Yaron Morgenstern, CEO (the company was co-founded by Yaron Gueta, Hanan Blumstein and Yoav Schreiber) said that revenue has doubled in the past year and this is an uproar. Glassbox doesn't reveal many customer names ̵
Funding underscores an interesting trend we're in right now: More and more people are going online If you rely on digital interfaces to shop, entertain, access and send important information, the mistakes of websites and apps are more obvious than ever and urgently need to be fixed.
However, this is not the only reason why this funding is remarkable.
Last year we published an outline of how some customers took over the Glassbox SDK, in which they did not fully communicate to their own customers how their online actions were monitored and tracked in the name of quality control. and how and whether sensitive data was absorbed.
It turned out that the story opened some rifts and helped both Glassbox, its customers, and platform operators like Apple and Google (in the case of apps). The same page tells you how well and when these tools worked.
In particular, this did not significantly affect Glassbox's business – which doubled over the course of the year and continues to grow very rapidly, Morgenstern said in an interview today:
"We had a very successful year last year and our business more than doubled. The whole thing is behind us, ”he said. “The safety of our customers and our customers' customers is the most important thing for the application. We work with the relevant providers who are responsible for the apps and app management in order to understand their requirements and which measurements we have to carry out in order to comply with rules and regulations. “
There is an argument It needs to be considered how privacy issues like this are currently being dealt with and whether they are in a climate where going online and tracking has been given a new priority (another) continue to receive the same control as before (type of stress test as it happens).
But at least for the moment there was an interesting twist in the user experience, where services that were never designed to be fully accessible or where errors slipped are now no longer available than acceptable – with hopefully the fixes and detections, that are transparent to users.
"I think we see that companies had to change their behavior towards customers," said Morgenstern d.
He noticed that this is happening on two fronts. On the one hand, a new audience and a new market segment "that is forced into digital channels". For example, for some services, older consumers often have "no choice but to go online," he said. "Our customers serve new parts of the population, and what they offer may not fit."
On another side, the company itself stands. "Many find that they now have a large part of their products and services online in a way – and transform digital experiences like they had never done before, "he said. "According to the digital transformation curve, many do this before they ever planned it." In other words, services like Glassbox's have become "business critical," he added.
"Glassbox was the best product in an important, growing market," Brighton Capital's Zach Gut said in a statement. “The company's approach enables companies to seamlessly improve their skills and remain competitive in a rapidly developing world defined by digitization. We look forward to working with the talented team from Glassbox and accompanying them on their exciting journey. “Gut and Lisa Hammitt, Global VP of Data & AI at VISA and Special Advisor to Brighton Park, both join the startup's board.