London-based UX analytics platform ContentSquare has raised £45 million in its Series C round of funding, just one year after having raised more than £31 million in its Series B funding round.
Led by French private equity firm Eurazeo, Series C brings the company’s total funding to £92 million since 2016 and, like Series B’s, will go towards research and development focused on artificial intelligence and predictive analytics.
Aiming to fill a void left by many other analytics platforms, ContentSquare’s USP is that rather than showing brands where they are losing customers online (via their website or app), it aims to discover why those customers are being lost.
All the previous investors in the company, including Highland Europe, also participated in the round.
ContentSquare clients include IKEA, Matalan, LVMH and L’Occitane.
Jonathan Cherki, founder and CEO of ContentSquare, said: “Now more than ever, 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. Online and offline, 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 ultra-competitive digital landscape.”
By tracking customer behaviour through billions of digital touch and mouse movements, ContentSquare increases brand engagement and maximises conversion rates.
The company has released two new products since its Series B funding announcement in January 2018: CS Live and AI Alerts, which deliver customer experience information in real-time.
AI Alerts notifies companies if something has glitched on their website, preventing customers from checking out and paying.
Meanwhile, newly launched CS Live allows any business which has access to ContentSquare to guide their cursor over their own website, and see real-time metrics such as clickthrough, dwell time and conversion rates.
ContentSquare has doubled its workforce over the past year, with the majority of new hires being in the London office. And it has opened offices in Munich and New York.