Gap Inc. has acquired New York and Tel Aviv-based software start-up Context-Based 4 Casting Ltd. (CB4) for an undisclosed amount.
CB4 uses artificial intelligence and machine learning tools to help retailers increase sales and improve the customer experience through predictive analytics and demand sensing.
CB4’s investors have included Sequoia Capital, and its technology has been used by retailers such as Levi’s, Urban Outfitters, Lidl and Kum & Go.
As part of the acquisition, CB4’s staff will become full-time employees of San Francisco-based Gap.
The companies said the acquisition was brokered by Gap’s Strategic Growth Office, which “seeks out opportunities to fuel growth and accelerate new capabilities across its portfolio of brands.”
