SoftBank leads a $0.5 billion investment in AI-driven digital experience analytics tech startup Contentsquare
Just two days ago, Softbank led a $175 million investment in South Korea-based EdTech startup and AI tutoring platform Riiid to further R&D and enhance its AI technology. Over the past three years, Softbank, through its SoftBank Vision Fund, has been betting on promising AI startups. Tempo is another Softbank-backed startup that is redefining personal fitness training experience with the first home gym that uses advanced 3D sensors and AI. Now, Softbank is leading investment in another AI-related backup.
Today, Contentsquare announced it has completed a $500 million Series E funding round led by. The investment is led by SoftBank Vision Fund 2, alongside existing investors Eurazeo, Bpifrance, KKR, Canaan, Highland Europe, and funds and accounts managed by BlackRock. The announcement follows Contentsquare’s $190M Series D funding we reported last week. To date, ContentSquare has raised a total of $810 Million valuing the company at $2.8 Billion and also making it a member of the unicorn club.
In addition to the investment, Contentsquare said it will take advantage of SoftBank’s depth of expertise in scaling companies and networks in Asia, and Michel Combes, President of SoftBank Group International, will join its Board of Directors. In 2019, ContentSquare acquired Israel-based digital experience analytics startup Clicktale. The combined company now serves 600 enterprise clients around the world.
Contentsquare will use the capital to further develop its platform and advance AI innovation to accelerate its market vision: to empower brands to create exceptional digital experiences at scale. The newly secured funding will also support Contentsquare’s rapid growth and geographic expansion, M&A activities, and go-to-market strategy.
The Contentsquare platform analyzes customer behavior through trillions of anonymous web, mobile and app interactions, and transforms this knowledge into intelligent recommendations that increase user conversion, revenue, engagement and growth. By integrating customer experience data across content, UX, merchandising, and performance, Contentsquare is the only complete platform that empowers teams with the actionable customer insights that are critical to business success today. The platform operates with full respect to all applicable data privacy laws such as EU GDPR and California CCPA.
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.
“Innovation is in Contentsquare’s DNA and today’s investment is a result of the tremendous hard work of our passionate and ambitious team. Our growth has been accelerated by the world’s shift towards digital, and our technology answers many of the digital transformation challenges brands face today,” said Jonathan Cherki, CEO and Founder of Contentsquare.
Contentsquare’s customers include leading brands such as BMW, Gucci, Ikea, Microsoft, Rakuten, Sephora, The NorthFace, Verizon, and others. The company has also built a best-in-class ecosystem of 100+ solution and technology partners, including integrations with Salesforce, Qualtrics, Tealium, and Optimizely to help marketers tackle the challenges of integrated marketing.
“By democratizing access to actionable customer insights, Contentsquare empowers businesses in every sector to build better digital experiences for everyone,” said Yanni Pipilis, Managing Partner for SoftBank Investment Advisers. “We’re excited to partner with Contentsquare on its journey as one of the global leaders in UX optimization.”