Paris-based Contentsquare raises $190M Series D to accelerate innovation in AI and predictive analytics
We last wrote about Contentsquare back in July 2019 when the Paris-based cloud-based platform acquired Israel-based digital experience analytics startup Clicktale. The acquisition positioned the company to serve 600 enterprise clients around the world, including 30% of the Fortune Global 100, and a global community of 12,000 users comprised of analytics, e-commerce, e-merchandising, content, marketing, UX and IT professionals.
Today, Contentsquare announced it has closed on a $190 million Series D funding to invest heavily in innovation, including AI- based and predictive analytics, and expand its business across the Americas, Europe, Asia and Middle East. The round, which brings total funding to date to $310 million, was led by BlackRock’s Private Equity Partners team, who joins existing investors Bpifrance (through their Large Venture fund), Eurazeo Growth, Canaan, GPE Hermes, Highland Europe, H14 and KKR, most of whom participated in this round. Sapiance Capital Limited is also providing credit to the company.
Founded in 2012 by Jonathan Cherki, ContentSquare helps organizations optimize their web and mobile sites. It was named by Gartner as one of the four most innovative e-commerce technologies in the world. Its digital experience insights platform is trusted by brands like AccorHotels, Sephora and Walmart.
“This investment during these uncertain times is a proof of the fantastic job our teams have done,” said Jonathan Cherki, Founder and CEO, Contentsquare. “It validates the strength of our vision for the next 5 years and extends our global leadership in experience analytics at a time when these capabilities are critical to all businesses. We have the ambition to accelerate the world’s digital transformation, by unlocking a full understanding of online behaviors.”
This Contentsquare platform is used by more than 700 enterprise customers including 30% of the Global Fortune 100 and industry powerhouses such as American Express, Best Buy, Dell, Ikea, LVMH, T-Mobile, Salesforce, Sephora and Toyota. The company has also built a strong ecosystem with integrations with more than 100 technology vendors and strategic partnerships with consultants and digital marketing solutions providers around the world.
“Already a fast-growing market, experience analytics is now a must-have for businesses,” said Nathalie von Niederhaeusern from BlackRock, who is joining Contentsquare’s Board of Directors. “Contentsquare has unique assets: strong behavioral data and AI algorithms, deep understanding of digital consumers, a large database of benchmarks, a great leadership team and R&D depth. With their client roster, they are defining the experience analytics market globally.”
Contentsquare now analyzes 10 trillion consumer interactions including $1.4B of eCommerce sales per day, representing one of the biggest benchmarks of digital behaviors in the world. To help decision makers navigate the current shifting landscape, Contentsquare created the Covid-19 eCommerce Impact Data Hub providing week-to-week tracking and analysis of the pandemic on digital consumer behaviour across industries and geographies.
Since its creation in 2012, Contentsquare has experienced tremendous growth. In 2019, Contentsquare grew its annual recurring revenues by nearly 200%, with strong acceleration in North America (40% of total business), Europe (55% of total) and Asia. Contentsquare doubled its staff in the last twelve months, growing the staff from 300 to over 600, and investing heavily in its employee skills, culture and benefits. The company has 8 offices in Paris, Munich, London, New York, San Francisco, Tel Aviv, Tokyo and Singapore. With 170 people in R&D, Contentsquare has consistently released new functionalities and innovations, covered by global patents, to provide instant insights that go beyond traditional “clickstream” analytics.