Glassbox
Glassbox, founded in 2010 and headquartered in the United Kingdom, provides digital experience intelligence software for web and mobile applications, with a strong focus on regulated industries such as financial services and insurance.
Profile
Glassbox sells software that records and analyzes every user interaction on a website or mobile app, then uses AI to surface insights for improving customer experience, preventing fraud, and meeting compliance requirements.
Glassbox, founded in 2010 and headquartered in the United Kingdom, provides digital experience intelligence software for web and mobile applications, with a strong focus on regulated industries such as financial services and insurance. The company's platform captures and analyzes user sessions to help clients identify friction points, improve conversion rates, and maintain compliance. As of its 2023 full-year results (reported March 2024), Glassbox reported annual recurring revenue (ARR) of $57.3 million, up 17% year-over-year, with cloud subscription ARR surging 54% to $50.5 million.
Total annual revenue reached $48.6 million, a 6% increase, while cloud subscription revenue grew 35% to $35.2 million. The company reduced its non-GAAP operating loss by 55% to $10.5 million and ended 2023 with $46 million in cash, including a $20 million credit facility. Glassbox is publicly traded on the Tel Aviv Stock Exchange under the ticker GLBX.
In 2023, the company added 51 new customers, including AXA, ANZ Bank, and US HealthConnect, and achieved a net retention rate of 121% and a gross retention rate of 91% for large enterprise customers. The company has been investing in AI capabilities, launching a generative AI assistant called GIA (Glassbox Insights Assistant) built on Microsoft Azure OpenAI Service, and a 'Voice of the Silent' solution. Glassbox's platform is marketed around three pillars: proactive CX (identifying customer struggles), preventive CX (fraud detection via session monitoring), and secure CX (compliance automation). The company's G2 rating claims 'Highest Satisfaction and Easiest to Use' for mobile app analytics.
Products by Glassbox
- G Glassbox Insights Assistant (GIA) Glassbox Insights Assistant (GIA) is an AI-powered analytics tool designed for enterprise teams in regulated industries like finance Be the first to review →
- V Voice of the Silent Voice of the Silent is a Glassbox platform feature that uses AI to analyze customer behavior and sentiment Be the first to review →
Who buys this
- Large banks and financial institutions
- Insurance companies
- Healthcare organizations
- E-commerce and retail firms
- Other regulated industries requiring digital compliance
Publicly disclosed clients
- SoFi
- Credit.com
- Anpost Insurance
- AXA
- ANZ Bank
- US HealthConnect
- Co-Operative Bank
Strengths and what to watch
Strengths
- Strong cloud subscription growth: cloud ARR grew 54% YoY to $50.5 million and cloud direct gross margins reached 81% in Q4 2023, indicating a successful shift to SaaS.
- High customer retention among large enterprises: net retention rate of 121% and gross retention rate of 91% in 2023, suggesting existing clients expand usage.
- Deep focus on regulated verticals like banking and insurance, where session recording and compliance features are differentiated from general-purpose analytics tools.
Watch for
- Customer concentration risk: a single three-year, $42.3 million agreement with one prominent bank represented a significant portion of cloud subscription revenue in 2023.
- Still operating at a loss: despite improvement, Glassbox reported a non-GAAP operating loss of $10.5 million in 2023, and cash burn was $4 million for the year.
- Competitive pressure from larger analytics platforms (e.g., FullStory, Hotjar, Quantum Metric) and from in-house solutions built by large financial institutions.
Key Information
- Industry
- Product Analytics
- Founded
- 2010
- Headquarters
- United Kingdom
Frequently Asked Questions
What does Glassbox software do?
Glassbox records and analyzes every user interaction on websites and mobile apps. It uses AI to surface insights for improving customer experience, preventing fraud, and meeting compliance requirements, especially in regulated industries like banking and insurance.
How much revenue did Glassbox report in 2023?
Glassbox reported annual recurring revenue of $57.3 million in 2023, up 17% year-over-year. Cloud subscription ARR surged 54% to $50.5 million. Total annual revenue reached $48.6 million, a 6% increase from the prior year.
What is Glassbox's GIA generative AI assistant?
GIA, or Glassbox Insights Assistant, is a generative AI assistant built on Microsoft Azure OpenAI Service. It helps users analyze session data and uncover customer experience insights more quickly, supporting Glassbox's proactive CX pillar.
Which industries does Glassbox focus on?
Glassbox focuses on regulated industries such as financial services, insurance, and healthcare. Its platform helps these sectors with session recording for compliance, fraud detection, and improving digital customer experience while meeting regulatory requirements.
How does Glassbox help with fraud prevention?
Glassbox's preventive CX pillar uses session monitoring to detect fraudulent behavior in real time. By analyzing user interactions, the platform can identify suspicious patterns and alert teams, helping financial institutions and other clients reduce fraud risk.
What is Glassbox's customer retention rate?
Glassbox achieved a net retention rate of 121% and a gross retention rate of 91% for large enterprise customers in 2023. This indicates that existing clients are expanding their usage of the platform, contributing to strong recurring revenue growth.
Sources
- www.glassbox.com — Company overview, product pillars (proactive, preventive, secure), client logos (SoFi, Credit.com, Anpost Insurance), and G2 rating claims.
- www.glassbox.com — 2023 full-year and Q4 financial results: ARR $57.3M, cloud ARR $50.5M, revenue $48.6M, cloud subscription revenue $35.2M, gross margins, customer count, net retention rate, and AI product launches (GIA, Voice of the Silent).
- intellizence.com — General context of tech industry layoffs in 2025; no specific Glassbox layoffs mentioned.
- www.businessinsider.com — Broader 2025 layoff landscape; no specific Glassbox mention.