(Photo By: Abir Sultan/Flash90)
By: Ricky Ben-David - October 5, 2021
US apparel giant Gap has acquired Israeli AI company CB4, a developer of predictive analytics tools that offer data-driven insights and recommendations for retail businesses like grocery and retail chains.
The agreement was announced late Monday. The terms of the acquisition were not disclosed but Israeli business daily Calcalist estimated the deal at approximately $150 million.
Headquartered in New York with offices in Tel Aviv, CB4 launched its operations in 2014 with a $6 million Series A round, followed by a $16 million Series B in 2019. Its investors include Sequoia Capital and Pereg Ventures, a New York-based venture capital firm focused on early-stage US and Israeli startups in the B2B data space.
Read More: Times of Israel