Contentsquare, the digital experience optimization platform, announces that it has raised $500 million, or almost 408 million euros, a record transaction in the history of French Tech. This round of financing will enable the company to pursue its international expansion, with Asia in its sights. Here's what you need to know about this round of financing.
Contentsquare, now valued at $2.8 billion
Founded in 2012 by Jonathan Cherki, Contentsquare helps retailers understand user behavior from the moment they arrive on the site until they leave. Professionals can visualize how consumers interact with each element of the site, discover how to optimize their e-commerce performance by combining information on the customer journey, data on their product catalog and prices charged by competitors.
The French nugget recently announced that it had raised $500 million from Japanese investor Softbank, valuing the company at $2.8 billion. This is the largest fundraising ever by a French startup, according to the company and external data compiled by AFP. The previous record was held by video game publisher Voodoo, which raised 400 million euros last year. It was followed by Back Market, with 276 million euros raised in mid-May.
Recruit 1,500 people by 2024
Contentsquare, which currently has over 800 employees, plans to recruit 1,500 people over the next three years, particularly in R&D and product services.
This new funding will enable the company to continue investing in innovation, and in particular in the creation of new artificial intelligence and predictive analysis tools.
Mergers and acquisitions
In addition to increasing its workforce, Contentsquare is looking to continue its international expansion. As a reminder, the startup has already acquired Dareboost, a company founded in 2014, primarily known for its tool for evaluating website performance.
In 2019, it also announced the acquisition of Israeli player Clicktale, which boasts expertise in detecting anomalies and reducing friction points in the customer journey, the takeovers of Pricing Assistant and digital accessibility solution "AdaptMonWeb".
750 customers worldwide
Today, Contentsquare boasts some 750 customers worldwide, including BMW, Ikea, Microsoft, Sephora, Rakuten and The North Face. According to Jonathan Cherki, interviewed by Les Echos newspaper, the company has enjoyed "average annual growth of 121% over the last four years". Contentsquare does not disclose its sales figures, but claims to generate almost 50% of its business in the United States.
Thanks to this latest round of financing, Contentsquare intends to continue its growth. " We have all the ingredients to continue writing an extraordinary story," says the scale-up's CEO.