ContentSquare Raises $20 Million in Funding for Global Expansion
Company uses artificial intelligence to capture behavior insights in ecommerce and digital experiences, increasing conversion rates
NEW YORK–(BUSINESS WIRE)–ContentSquare, an experience optimization platform for online and mobile businesses, announces today the completion of $20 million in Series B funding. The capital investment by Highland Europe will support ContentSquare’s global expansion and attract new talent to advance the company’s vision.
ContentSquare uniquely captures online and mobile behaviors to measure user experience, increase engagement and improve conversion rates. ContentSquare empowers brands to measure content performance, understand visitor intentions and explain consumer decisions when they do or do not purchase. Using artificial intelligence to provide automatic recommendations, ContentSquare’s easy-to-use and unique performance indicators ensure all teams in an organization can easily make data-driven decisions.
The platform collects over 1,000 billion user mouse movements, screen touches and interactions to segment visitors based on intention and behavioral patterns. Recognized by Gartner in 2014 as one of the “most innovative ecommerce vendors in the world,” ContentSquare differentiates from competitors by providing its clients with daily tips from an AI-powered bot, allowing clients to make immediate, high-impact changes to their sites and apps that help drive sales.
“Our revenue has grown 20-fold in the past four years. This momentum and strength supports our ambition to become the world leader in our field and ability to offer a successful, user-friendly solution that can be operated in only a few clicks,” said Jonathan Cherki, founder and CEO of ContentSquare. “Our clients want to see measurable conversion rate results. ContentSquare provides these results and even allows individual team members to measure their own contribution to the sales increase. This funding confirms the relevance and need for a platform like ContentSquare in the market.”
“ContentSquare has become a significant business partner for Unilever and the Lipton brand. Jonathan and his team created a user experience technology that goes much deeper than our existing web analytics. ContentSquare’s platform helps us optimize the user experience and make fast, efficient decisions that increase our sales,” said Mathieu Bernard, ecommerce lead and web sales manager, T.O by Lipton, Unilever.
The advanced and predictive analytics market is estimated to be valued at over $3 billion by 2018 [source: Datamashup, IDC].
“ContentSquare’s technology is unique because it focuses on understanding and improving customer experience, as opposed to focusing solely on customer acquisition,” said Tony Zappala, partner at Highland Europe. “We’re impressed by the solutions ContentSquare provides its clients, and realize this company’s results-driven technology and impressive leadership team set a great example for what the future of the UX industry should look like. ContentSquare is already a well-known leader in Europe and we’re excited to help expand their global reach.”
ContentSquare was founded in 2012 and is co-headquartered in New York and Paris, with a third office in London. ContentSquare’s customers include hundreds of global brands, such as Accor, Bernardaud, Best Western, Kering, L’Occitane, L’Oreal, Lacoste, LVMH, Matchesfashion, Modani, TAG Heuer, Unilever and more.