Parisian customer experience platform Contentsquare has raised $500 million in a Series E round led by SoftBank Vision Fund. Existing investors Bpifrance, Canaan, BlackRock, Eurazeo, Highland Europe and KKR all participated in the round. As part of the deal Junichi Miyakawa, President of SoftBank Group International will join Contentsquare's Board of Directors. The funding is intended to accelerate the firm’s growth including the continuation of its strategic M&A activities, as well as fuel a massive recruitment spree, with more than 1500 new jobs planned over the next three years. Through the onboarding of Softbank, Contentsquare now turns its aim firms towards the Asian market, specifically, China.
The company has raised a total of $810 million to date and is now valued at $2.8 billion.
"We benefit from the expertise and network of SoftBank to simultaneously increase our presence in Asia. We have already deployed teams in Singapore and Tokyo, but also in Melbourne and Sydney for the Pacific," CEO and founder Jonathan Cherki said in a statement to JDN. When asked about China, Cherki replied, "This country represents half of the digital transactions in 2020.”
Founded in 2012 by Jonathan Cherki, Contentsquare analyses nearly $1.5 billion in transactions and 10,000 billion customer digital interactions (clicks, touch gestures, content interactions, etc.) over mobile apps and websites on a daily basis. The service then prioritises this data and makes suggestions for customers to improve the user experience based on conversion and turnover rates.
In 2019 Contentsquare acquired Israeli competitor Clicktale, through with the French company established Contentsquare Merchandising. With this offering, Contentsquare established a pricing index that provides real-time analysis and notification of fluctuating market conditions.
2020 saw the acquisition of Dareboost, a web performance monitoring tool that can be immediately integrated into the Contentsquare offer and constantly monitors web performance and shaves 0.1 seconds of load times, figures that can generate an 8% increase in conversion rates according to Google.
Contentsquare services clients across a wide range of retail sectors including retail, media, telecommunications, tourism, automotive, finance, 30% of which are Fortune 500 companies, and include BMW, Gucci, Ikea, Microsoft, Rakuten, Sephora, The NorthFace, Verizon. The company reports a compound annual recurring revenue growth rate of 121% over the past four years, with 50% of the business currently generated in the US.
“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,” concludes Cherki.