Media Coverage – 2
Times of India wrote:
Mumbai-based Netcore Cloud’s full-stack marketing platform complements Unbxd’s personalised digital experiences that are easily scalable and provide actionable analytics, and real-time reporting. The investment will expand its footprint and access to newer customers. “Unbxd is growing at 20%-30% annually and is at $10 million ARR. Netcore Cloud is at $85 million ARR and together we will be over $100 million ARR. We will make additional investments to accelerate growth to deliver personalised customer experiences,” said Rajesh Jain, founder and MD of Netcore Cloud.
Jain said Netcore equips B2C firms on the path to profitability. “Retail SaaS has good recurring revenue, and we are a profitable business. We plan to IPO in the next 12 months,” he said. Netcore Cloud caters to over 5,000 customers across the globe. It delivers 17 billion emails and tracks 100 billion marketing events every month.
Unbxd’s Sondur and Kumar said, “With our unique combination of personalisation solutions and Netcore’s robust full-stack marketing automation tech platform, it’s a perfect partnership that can capture cross-selling opportunities and scale the business globally.”
“Unbxd’s AI and ML tech stack will empower our customers to track their shopper’s interactions with search and implement site-wide personalisation, merchandising, along with shopper-focused recommendations. This will enable brands to optimise their entire customer journey, providing the best-in-class customer experience,” [said Kalpit Jain].
“Netcore Cloud platform is growing rapidly at 40 percent YoY (with international markets growing 100 percent YoY). We are positioned as the digital proxy in emerging markets. Added to that, this investment will enable us to get a strong foothold in the US and other developed markets. Furthermore, the combination of Unbxd and Netcore Cloud’s capabilities will bolster our full-stack product offerings,” said Nishant Jain, Chief Strategy Officer and Head of M&A, Netcore Cloud.”
Software-as-a-service (SaaS) startup Netcore Cloud, which picked up a majority stake in Unbxd for $100 million, will acquire at least one more company before launching its initial public offering (IPO) early next year.
“That is the thought process —one more acquisition before we get to the IPO point,” Kalpit Jain, group chief executive, Netcore, said in an interview.
…“There is so much to build in marketing technology, but we cannot build all by ourselves. The idea is to look for companies that we could potentially acquire before and after the IPO,” said Jain. Netcore eyes both tuck-in acquisitions such as Quinto.ai, Boxx.ai and Hansel.io, and the likes of Unbxd which helped expand its presence. “Unbxd gave a good head start for us in the North America. We are on the lookout for a good company in Europe,” he added.
Inc42: “Commenting on the acquisition, Kalpit Jain of Netcore Cloud said that the AI and ML tech stack of Unbxd will help Netcore’s customers to track shopper’s interactions with search and implement site-wide personalisation, merchandising, along with shopper-focussed recommendations.”