Software-as-a-service (SaaS) platform Netcore Cloud said it has picked up a majority stake in US-based product discovery platform Unbxd Inc for $100 million.
Co-Founded by Pavan Sondur(from Belagavi) and Prashant Kumar, Unbxd offers search solutions to improve retention and conversions for eCommerce retailers and direct-to-consumer (D2C) brands in the US, UK and Australia.
Currently, the company claims to power 3.5% of all the US e-commerce on-site search queries spread across 150 customers.
Unbxd will operate as an independent entity, however there will be no restructuring in the company’s management and the founders and key leaders will continue in their roles.
One of the founders of Unbxd, Pavan Sondur hails from Belagavi started his entrepreneurial journey after quitting his high-paying job at NetApp.
Pavan did his schooling at St. Paul’s High School, Belagavi (2002) and his Engineering from Sri Jayachamarajendra College of Engineering, Mysore.
Unbxd has a host of clientele including Mattress Firm, Express, Ashley Homestore, Home Shopping Network, Advance Auto Parts, The Children’s Place, Mitre10 and Kookai, among others.
The company was backed by investors like Nirvana Ventures, Chiratae Ventures, Eight Roads and Inventus Capital.