Contentsquare, the cloud-based platform that helps businesses understand how and why users are interacting with their app, mobile and web sites, has closed $190m in Series D funding.
The round is led by BlackRock’s Private Equity Partners team, with participation from previous investors. In addition, as part of this round, Sapiance Capital Limited is providing credit to the company.
It brings total funding for Contentsquare to $310m. Previous backers include Canaan, Eurazeo Growth, GPE Hermes, Highland Euope, H14 and KKR, most of whom we’re told participated in this round. The company’s $60m Series C round took place in January 2019.
Founded in 2012, Contentsquare wants to empower brands to create ‚Äúbetter experiences‚Äù. Its SaaS analyses customer behaviour through billions of anonymous web, mobile and app interactions. It then provides recommendations, with the goal of helping companies increase revenue, engagement and growth.
In other words, Contentsquare claims it can tell a company why conversion rates are low and, most importantly, what can be done to improve them. This can include making changes to specific page or content elements, or a combination of the two. To enable this, the software integrates a broad set of data including content, UX, product, pricing, acquisition channel and technical performance ‚Äî spanning the entire digital customer journey.
To date, Contentsquare says its platform is used by more than 700 enterprise customers including 30% of the Global Fortune 100. This includes large companies such as American Express, Best Buy, Dell, Ikea, LVMH, T-Mobile, Salesforce, Sephora and Toyota.
‚ÄúThis investment during these uncertain times is a proof of the fantastic job done by our teams‚Äù, said Jonathan Cherki, founder and CEO of Contentsquare, in a statement. ‚ÄúIt validates the strength of our vision for the next 5 years to further extend our global leadership in experience analytics at a time when these capabilities are critical to all businesses.
Meanwhile, Contentsquare says the new capital will help it continue to invest in innovation, including ‚ÄúAI-based and predictive analytics‚Äù. It is also planning further expansion across the Americas, Europe, Asia and Middle East.