Content Experience Platform Contentstack has announced its latest Series B round of financing.
The San Francisco, California-based startup helps companies serve content to their audiences across channels via its CMS, using AI and machine learning to deliver more personalised experiences to build customer loyalty.
Since its 2018 foundation, the company has raised $89mn in funding, with its latest Series B round alone seeing the company bring in $57.5mn from lead investors Insight Partners alongside Illuminate Ventures, GingerBread Capital and Georgian.
“In the last year, we have helped leading companies in industries such as retail, financial services, gaming and travel to create personalized experiences for their customers in order to drive revenue, improve customer satisfaction and build customer loyalty,” said Neha Sampat, founder and CEO of Contentstack. “This round of financing demonstrates that our strategy is paying off, including our core beliefs around equality, customer care and product innovation. During a remarkably challenging year, our team delivered impressive results and we are excited to continue this growth trajectory by delivering the best agile CMS platform for a digital-first world.”
According to Contentstack, take-up of its offering has been accelerated by the ongoing COVID-19 pandemic. The company cited a study which said 50% of large enterprises were preparing to shift to a content experience platform by the end of 2022. The company’s customers already include the likes of HP, McDonald’s and NBC.
“The company’s outstanding results were fueled by unprecedented market demand for powerful digital experiences due to the pandemic, as businesses were compelled to deliver content-rich digital interactions across the spectrum,” said Neha Sempat.
The company said it would use the funds to fuel its international growth, as well as expand its partner ecosystem and accelerate technology innovation.
“We are big believers in Contentstack and the leadership team, especially after our conversations with global brands revealed how important Contentstack is to these organizations and how beloved the product is by both business and technical users,” said Emily Walsh, Lead Investor at Georgian. “Now with access to our technology platform, Contenstack can not only gain operational efficiencies but also supercharge the innovation, experience and support it offers to customers and partners. We are excited to help Contentstack customers leverage AI to gain business advantages through new insights and automation.”
