Contentsquare, the SaaS platform that helps retailers and brands cull “experience insights” from customer data, said it raised $60 million in Series C funding, which was led by Eurazeo and included all of the investors from prior funding rounds.
This latest round brings the total venture capital funding to $120 million since 2016. The funding will be used in research and development (specifically artificial intelligence and predictive analytics) as the company continues to expand in the U.S., Europe, Asia and Middle East.
Clients of Contentsquare include Walmart Inc., Tiffany & Co., LVMH Moët Hennessy Louis Vuitton, AccorHotels, Avis, Samsung, Sephora, BNP Paribas, GoPro, Ikea and Nissan, among others.
Jonathan Cherki, founder and chief executive officer of Contentsquare, said given the consumer landscape, “enterprises understand that improving the digital customer experience is a matter of great importance.”
“With this new funding we are accelerating the development of our solution, leveraging deeper analytics to expand our insights and make them smarter,” Cherki said. “Online and off-line, this will provide retailers and brands with a larger return on investment and help them to identify business opportunities, in addition to driving the new, decision-based era of digital experiences to our customers — a critical factor in today’s ultracompetitive digital landscape.”
Cherki told WWD that prior approaches were about customer acquisition. “Now, traffic is on mobile, but the conversion rates remain low,” he said, adding that this is why leveraging data from “every digital touch point of the consumer” is critical.
Contentsquare said in a statement that by tracking customer behavior “through billions of digital touch and mouse movements, Contentsquare transforms this knowledge into profitable actions that increase engagement, reduce operational costs and maximize conversion rates.”
The company noted that when it received its Series B funding in January of last year, it rolled out two solutions for retailers and brands: CS Live and AI Alerts. CS Live identifies various consumer metrics via a web site without the need for a dashboard. AI Alerts is the company’s latest “monitoring system,” which is designed to help business “detect and react to improve customer engagement without manual effort.”