L Catterton has announced a strategic investment in Glance. Glance is an AI-powered personal shopping platform backed by technology company InMobi. The financial terms of the investment were not disclosed.
Investment details
L Catterton is a global consumer-focused investment firm. It manages approximately $40 billion of equity capital across multiple platforms. The firm has made over 300 investments in consumer brands since 1989.
Company background
Glance is owned by Glance InMobi Pte. Ltd., an associate of InMobi Technology Services. The company is also backed by Mithril Capital, Google, and Jio Platforms. Naveen Tewari is the founder and CEO of both InMobi and Glance.
How the platform works
Glance uses agentic AI technology to act as a personal shopper for consumers. It understands user interests to introduce them to relevant products. The platform is integrated across devices like smartphones and connected TVs.
L Catterton will use its network to support Glance's continued expansion. The company will maintain a particular focus on the US market. Glance is already available on millions of US devices through partnerships with Samsung, Motorola, and DIRECTV.