Gap acquires Israeli startup CB4
The company uses AI and machine learning tools to boost retail operations, increase sales and improve the customer experience
Meir Orbach | 11:38, 05.10.21
American retail giant Gap has acquired Israeli startup Context-Based 4 Casting (CB4). The valuation of the deal for the Tel Aviv-based company that uses AI and machine learning tools to boost retail operations, increase sales, and improve the customer experience through predictive analytics and demand sensing, wasn't announced. CB4 had previously raised $30 million. Investors in the company include Sequoia Capital, Pereg Ventures, and U.K.-based venture capital firm Octopus Ventures. CB4’s technology has been implemented by retailers including Levi’s, Urban Outfitters, Lidl, and Kum & Go.
This is Gap's first tech-based acquisition in Israel. As part of the acquisition, CB4’s team will join Gap as full-time employees.