L Catterton makes strategic investment in InMobi-backed Glance

Priyamvada C

US-based L Catterton has announced a strategic investment in Glance, an AI-powered personal shopping platform backed by global technology company InMobi, the companies said in a statement on Monday.

The investment reflects L Catterton’s conviction in Glance’s potential to help shape the future of shopping as artificial intelligence (AI) transforms how consumers discover and purchase products. The capital infusion also builds on Glance’s deep research into evolving consumer behaviors and preferences, including the growing role of AI in product discovery, consideration, and purchasing.

“Agentic commerce is fundamentally changing how consumers discover and shop for products, creating significant opportunities for brands that can make the journey more personal, intuitive, and engaging,” said Scott Dahnke, global chief executive officer (CEO) of L Catterton. “Glance is uniquely positioned to capitalize on this evolution, combining a differentiated consumer proposition with broad distribution across the screens where people spend their time.”

With the technology and reach to make shopping more intuitive, visual, and engaging, the Bengaluru-based Glance is well-positioned to capitalize on these changes. L Catterton, a consumer-focused investment firm, will leverage its deep consumer and category expertise, operating capabilities, and global network to support the company’s continued expansion, with a particular focus on the US.

Founded in 2019 by Naveen Tewari, Abhay Singhal, Mohit Saxena, and Piyush Shah, Glance is powered by proprietary agentic intelligence and generative AI and delivers a hyper-personalized consumer experience. It is owned and operated by Glance InMobi Pte. Ltd, a subsidiary of InMobi Technology Services Pte. Ltd, and is backed by Mithril Capital, Google and Jio Platforms.

“Their (L Catterton) decision to back Glance is a validation of the shopping model we've created and our belief that the future of commerce will move beyond search toward agentic shopping,” said Tewari, founder and CEO of InMobi and Glance.

Over the years, Glance has created a more personal way to shop by bringing the experience of a personal shopper directly to the devices consumers already use. Using agentic AI technology, the company can understand consumers’ interests and preferences and introduce them to relevant products, including possibilities they may not have considered on their own.

The platform is integrated across smartphones, connected TVs, and other digital environments, allowing consumers to move naturally from inspiration to discovery and purchase. Glance is available on millions of devices across the US through its partnerships with Samsung, Motorola, and DIRECTV. These partnerships extend Glance's personalized approach to commerce across more of the moments when consumers engage with content throughout the day.

Founded in 1989, L Catterton manages about $40 billion of equity capital across multiproduct platforms dedicated to private equity, credit, and real estate. The firm's funds can invest between $5 million and $5 billion, across the capital structure, in well-positioned consumer businesses. With a team of more than 200 investment and operating professionals across 18 offices, L Catterton has made over 300 investments in some of the world's most iconic consumer brands.

Priyamvada C

Priyamvada is a Mumbai-based business journalist at Mint. She writes about the public and private markets with a key focus on venture capital, private equity, M&As and private credit. Her coverage also spans startups and emerging businesses.<br><br>Over the last two years, she has uncovered some of the largest deals and interviewed important decision-makers from India’s investment ecosystem. She likes to dabble across different formats like long forms and explainers. Her work has been consistently displayed on the publication's deals page, and she has also written multiple front-page stories.<br><br>Prior to joining Mint in 2024, she worked out of Reuters’ Bengaluru bureau where she extensively covered the travel, transportation, and logistics industries. Across both her stints, Priyamvada has displayed rigour for breaking news and analyzing interesting data-driven trends. She holds a postgraduate diploma from the Asian College of Journalism's Bloomberg programme. In her free time, she enjoys reading books and trying out different cuisines. She is keen to delve deeper into the various sectors she covers and is always up for a chat. You can reach out to her at priyamvada.c@livemint.com.

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