Venture Capital: BlackRock Leads $190M Series D Round in Contentsquare
Contentsquare provides insights to businesses on how customers interact with their websites.
Contentsquare has raised $190 million in a Series D round led by BlackRock (NYSE: BLK). The startup previously raised $60 million in a Series C in January 2019. Cumulatively, it has raised $310 million since its formation in 2012. (Crunchbase)
Most of Contentsquare’s existing investors namely, Bpifrance (through their Large Venture fund), Eurazeo Growth, Canaan, GPE Hermes, Highland Europe, H14, and KKR participated in the latest round.
BlackRock’s Nathalie von Niederhausern will join Contentsquare’s board of directors.
The company provides a cloud-based SaaS that analyses how customers interact with the web, mobile, and apps belonging to a business. The insights generated from this analysis help the business to create superior customer experiences. They can, therefore, increase revenue, engagement, and growth.
Contentsquare can help businesses with a digital customer interface answer the question of where they are losing customers as well as the why of it.
The company claims to have 700 enterprise customers including 30% from the Global Fortune 100.
It analyses 10 trillion consumer interactions including $ 1.4 billion of e-commerce sales per day. It claims to represent “one of the biggest benchmarks of digital behaviors in the world.”
The company grew its annual recurring revenues by about 200% in 2019. It has doubled its staff in the last 12 months.
Last month, it launched new solutions to help businesses make more sophisticated data-driven decisions. The new Merchandising, Insights, who and Troubleshooting solutions provide visual analysis and granular recommendations based on the fullest set of variables influencing digital consumer behavior including content, UX, performance, product, and competitive pricing.
Contentsquare and COVID-19
“We have the ambition to accelerate the world’s digital transformation, by unlocking a full understanding of online behaviors,” said Jonathan Cherki, Founder and CEO, Contentsquare, in a statement.
Contentsquare created the Covid-19 eCommerce Impact Data Hub to help its customers navigate the massive changes wrought by the coronavirus epidemic.
The Hub provides week-to-week tracking and analysis of the pandemic on digital consumer behavior across various industries and geographical locations.
BlackRock on Contentsquare
“Already a fast-growing market, experience analytics is now a must-have for businesses,” said BlackRock’s Niederhaeusern. “Contentsquare has unique assets: strong behavioral data and AI algorithms, a 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.”
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