It's been a busy week in the CDP space; Upland snapped up BlueVenn, Zeta Global Raised $222.5 Million in Debt Financing, Blueshift Raised $30m, Lexer raised $33.5m. And it’s just gotten even busier as Dublin-based data analytics firm Boxever have been acquired by US firm Sitecore in a multimillion-euro deal.
Thus far, no financial specifics have been disclosed regarding the acquisition, though stakeholders in the company are said to be happy with the return on their investment.
How did Boxever get here?
Founded by a triumvirate consisting of Dave O’Flanagan, Alan Giles and Dermot O’Connor in late 2011, the Dublin-based company aimed to help companies make a more substantial and effective connection with and understanding of their customer bases.
Using machine learning and AI, they allowed brands to provide a more personalised experience with their customers.
For the most part, Boxever was popular in the travel space and very much still is, though they began to push for clients in other sectors over the last few years, eventually tying down AIB as their first banking firm client back in 2019.
Boxever also managed to strike a deal with Polaris Partners and Silicon Valley Bank as they sought to navigate their way through the pandemic and expand into the US.
Now: Boxever and Sitecore
Boxever is now part of the Sitecore conglomerate, following an acquisition. It seems very likely that this won’t be the last acquisition of the year at the hands of Sitecore, given how they recently took on an investment of $1.2 billion; the largest ever investment to take place in Martech.
Sitecore was founded in 2001 and acquired 15 years later in 2016 by equity firm EQT. It now works with a third of the Fortune 100 companies and nearly half of the S&P Global 100. Its clients include the likes of American Express, ASOS, Kimberly-Clark, L’Oréal and Volvo, which will have companies such as Ryanair, Aer Lingus, Emirates, Flybe and Jetstar join them, who were clients of Boxever.
What's next for them is yet to be seen. If the Sitecore website is anything to go by, then we're to expect them to "shape the future of digital engagement" with their new acquisitions. That sounds like a pretty big undertaking but I suppose they're up to it more than most.