Morning Report: Paris-based ecommerce analytics platform, ContentSquare, raises $42 million from Canaan Partners and others.
Paris-based business analytics startup, ContentSquare, raised a whopping $42 million Series B announced over the weekend. The round was led by California-based Canaan Partners, which focuses investments in early-stage ventures. Other participants included Highland Europe and Eurazeo.
Prior to its Series B, the company raised a $20 million Series A in 2016, which brings its known total funds raised to $62 million.
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Founded by Jonathan Cherki in 2012, ContentSquare is an ecommerce analytics service which supplies businesses with data about user experience via customized dashboards. Organizations can then use the insights gained from ContentSquare to improve user engagement. With website organization, accessibility, and buying habits all significant factors in the consumer experience, platforms like ContentSquare potentially offer ecommerce-focused businesses substantial money-saving advantages.
According to Techcrunch, Cherki said that the long-term vision for the company is to fully automate its services with artificial intelligence. He believes that what sets ContentSquare apart from other companies is its ability to both identify and offer solutions to potential problems. The European startup intends to use its latest round of funding to expand its global presence, with a particular focus on the U.S. market, according to Tech.eu.
ContentSquare’s subscribers, known via its website, include Walmart, Tiffany&Co., Clarks, Volcom, and L’Oreal, among others.
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