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Contentsquare Raises $190M, Plans Accelerated Development And Possible Acquisitions

The company’s technology analyzes customer behavior data and uses AI to generate recommendations to improve customer loyalty and grow online sales.

Contentsquare, a developer of customer behavior analysis software, has raised an impressive $190 million in Series D funding.

The funding round, led by BlackRock Private Equity Partners, brings Contentsquare’s total financing to $310 million.

Contentsquare’s platform analyzes customer behavior data collected through anonymous web, mobile and application interactions and provides businesses with recommendations to improve the customer digital experience, boost customer loyalty and increase sales.

[Related: Big Data 100 2020]

The New York-based company will use the additional funding “to invest heavily in innovation, including AI-based and predictive analytics, and expand its business across the Americas, Europe, Asia and Middle East,” the company said in a statement.

Acquisitions to expand the company’s capabilities are also possible, the company said. Last year Contentsquare bought Clicktale, another experience analytics software provider, and Pricing Assistant, a developer of merchandising and pricing software.

The company also expects to use the increased financing to expand sales and marketing “in key geographies to fuel our rapid expansion,” said Jonathan Cherki, Contentsquare founder and CEO, in a statement.

“This investment during these uncertain times is proof of the fantastic job our teams have done,” Cherki said. “It validates the strength of our vision for the next five years and extends our global leadership in experience analytics at a time when these capabilities are critical to all businesses. We have the ambition to accelerate the world’s digital transformation by unlocking a full understanding of online behaviors.”

BlackRock Private Equity Partners joins existing investors Bpifrance (through its Large Venture fund), Eurazeo Growth, Canaan, GPE Hermes, Highland Europe, H14 and KKR – most of whom also participated in the latest funding round.

The Contentsquare system looks at a range of data about online system content, user experience and technical performance, as well as product, pricing and customer acquisition information. The analysis produces recommendations generated by the platform’s artificial intelligence algorithms.

The company is currently used by more than 700 businesses, including American Express, Best Buy, Ikea, Sephora and Toyota. The company’s system analyzes 10 trillion consumer interactions per day including $1.4 billion in ecommerce sales.

Contentsquare increased its annual recurring revenue by nearly 200 percent in 2019 and has double its staff in the last 12 months to more than 600. In the channel Contentsquare has strategic partnerships with consultants and digital marketing solution providers.

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