ContentSquare Raises $42 Million Series B Led by US VC Canaan and Highland Europe
France-Based SaaS Digital Experience Insights Platform Secures Funding to Continue its Rapid Growth in Americas and Europe
ContentSquare, a SaaS digital experience insights platform, has raised a $42 million Series B funding round led by Canaan, a U.S. VC firm that has previously invested in LendingClub, Ebates and Match.com. Highland Europe, a global investor in companies including Matchesfashion.com, WeTransfer and Photobox and a previous investor in the company also participated in the round, as did Eurazeo and H14. The funding will be used to continue to grow ContentSquare’s business in the U.S. and globally.
ContentSquare computes billions of touch and mouse movements every day in 191 countries, and transforms this knowledge into profitable actions that increase engagement, reduce operational costs and maximize conversion rates. Used by content, eCommerce, analytics, acquisition, IT and UX teams, ContentSquare’s roadmap positions it to become the first fully automated, Artificial Intelligence (AI) driven digital experience platform.
ContentSquare’s CEO Jonathan Cherki, who is based in NYC, said, “Since our founding, we have been dedicated to understanding how and why consumers interact with their favorite brands’ website, mobile and apps – and to use that data to improve our customers’ digital experiences, measure content efficiency and, ultimately, increase sales. By improving and automating digital experience analytics, our innovative technology has become a secret weapon for some of the best brands all around the world. This round is a testament to the value we bring to our customers, and we’re very excited about our growth ahead.”
ContentSquare believes in people transformation more than digital transformation — changing the way digital teams work by empowering them to measure their impact and pinpoint the best ways to increase their revenue.
The company previously raised a $20 million Series A fundraising closed in the fall of 2016 led by Highland Europe and supported by business angels from Seed4soft. Since then the company has expanded globally, with offices in Paris, Munich, London and New York, and has grown to over 200 employees. In that time, ContentSquare also saw more than 150 percent revenue growth and added 120 customers worldwide, including Orange, Rakuten, Carrefour, Walmart, Tiffany’s, Clarks, Goldman Sachs, Abbott, SNCF, AccorHotels, L’Occitane and more.
Since the launch of the company, ContentSquare has rolled out a series of innovations and groundbreaking technology. Recent developments include the creation of an AI engine to analyze behavioral data and offer automatic insights, as well as its Auto-Zone feature launched earlier this month. Auto-Zone redefines online data collection by replacing content tagging and tag configuration with automatic element identification and revenue attribution for each area and element of a website.
“The ability for any brand to sell any good and deliver it to the consumer quickly means that the key differentiator for brand loyalty is customer experience. This is where ContentSquare’s digital experience insights come into play – they help enterprises really understand their users and create the ultimate experience,” said Michael Gilroy, Principal at Canaan, who spearheaded the firm’s investment and has joined the ContentSquare board.
Tony Zappala, Partner at Highland Europe, added, “We are proud to participate in another rounding of funding for ContentSquare. The talented team, led by Jonathan Cherki, has a strong vision with ambitious goals in a huge market. As an early investor, it’s exciting to see they ContentSquare continue to innovate and grow.”