L Catterton invests in Glance to accelerate AI-powered shopping expansion in the US
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L Catterton, a global consumer-focused investment firm managing approximately $40 billion in equity capital, has announced a strategic investment in Glance, an artificial intelligence-powered shopping platform backed by technology company InMobi. The investment comes as brands and technology companies increasingly explore how AI can transform product discovery and purchasing decisions.
The financial terms of the transaction were not disclosed. The partnership will focus on supporting Glance’s continued expansion, particularly in the US, with L Catterton bringing its consumer industry expertise, operational capabilities and global network to the business.
Glance uses agentic AI technology to understand consumer interests and preferences and recommend relevant products across smartphones, connected televisions and other digital environments. Its platform aims to integrate shopping into consumers’ everyday digital experiences, enabling them to move from inspiration to product discovery and purchase without relying exclusively on conventional search-based methods.
L Catterton bets on the shift towards agentic commerce
The investment reflects L Catterton’s assessment that artificial intelligence is changing how consumers discover, evaluate and buy products. The firm believes Glance’s technology and distribution across multiple screens position it to benefit from the evolution of personalised shopping experiences.
“Agentic commerce is fundamentally changing how consumers discover and shop for products,” said Scott Dahnke, global chief executive officer of L Catterton, highlighting opportunities for brands to make shopping more personalised and engaging.
Founded in 1989, L Catterton has made more than 300 investments in consumer brands. Its investment platforms span private equity, credit and real estate, while its funds can invest between $5 million and $5 billion across the capital structure. The firm has more than 200 investment and operating professionals across 18 offices globally.
Partnerships with Samsung, Motorola extend Glance’s reach
Glance already has partnerships with Samsung, Motorola and DIRECTV, through which its platform is available on millions of devices across the US. These arrangements provide distribution across mobile phones and televisions, extending its reach beyond traditional e-commerce platforms.
The company’s strategy centres on using AI to recommend products based on individual preferences and introduce consumers to options they might not have actively searched for. This approach seeks to make product discovery more visual and personalised while creating additional opportunities for brands to reach potential customers.
InMobi-backed platform targets next phase of shopping
Naveen Tewari, founder and chief executive officer of InMobi and Glance, said L Catterton’s investment validates the company’s shopping model and its ambition to move commerce beyond search towards agentic shopping.
Glance is owned and operated by Glance InMobi Pte. Ltd., an associate of InMobi Technology Services Pte. Ltd. Besides InMobi, the platform is backed by Mithril Capital, Google and Jio Platforms.
The investment adds to the growing focus on AI-led consumer experiences, although the companies have not disclosed the transaction value or provided specific financial targets for Glance’s planned US expansion.