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The round effectively doubles the amount of venture capital the seven-year-old Paris-based startup has raised, taking the total to $122 million. Previously, Contentsquare had secured a total of $62 million, with $42 million of that raised almost exactly one year ago today.
Contentsquare’s service is a SaaS analytics tool that helps companies improve the user experience of their online businesses, making their products more user-friendly.
It’s a crowded space. Per G2Crowd, Contentsquare’s competitors include Smartlook, HotJar, Crazy Egg and FullStory. Other startups in the sector include Localytics and Optimizely, among many others, according to Owler.
Contentsquare is not the only company in its field attracting venture dollars. For example, of its American counterparts: Optimizely has raised a total of $146.2 million over time; Localytics has brought in $69.8 million and FullStory has picked up $27.2 million.
Contentsquare’s offering is apparently designed for various platforms, including desktop and mobile. The company also says its service integrates with other data systems like Google Analytics.
The latest capital infusion will go toward R&D, particularly AI and predictive analytics, and to help the company continue its global expansion, according to this WWD piece. Contentsquare customers include Walmart Inc., Tiffany & Co., LVMH Moët Hennessy Louis Vuitton, Samsung, and Ikea, WWD reports.
Illustration: Li-Anne Dias