Contentsquare, the cloud-based software that helps businesses understand how and why users are interacting with their app, mobile and web sites, has raised $60 million in further funding.
Leading the Series C round is global investment company Eurazeo. It adds to $42 million in Series B funding raised around a year ago, and includes participation from existing investors Canaan, Highland Europe and H14.
Described as a “fully automated digital experience insights platform,” Contentsquare’s SaaS analyses customer behavior through the tracking of “billions of digital touch and mouse movements” to provide brands with insights into how to increase engagement, reduce operational costs and maximise conversion rates.
In other words, Contentsquare claims it can tell a company why conversion rates are low and, most importantly, what can be done to improve them. This can include making changes to specific page or content elements, or a combination of the two.
Related to this, Contentsquare has developed an AI engine to analyse behavioural data and offer automatic insights. In addition, the “AutoZone” feature replaces content tagging and tag configuration with automatic element identification. This means that Contentsquare automatically recognises different page or app elements and can therefore track changes more easily to feed into the aforementioned AI engine.
More recently, the company has released two new solutions for customers: CS Live and AI Alerts, which deliver customer experience information in real time. CS Live provides Contentsquare’s clients with a way to immediately identify consumer metrics on their websites without the need for a dashboard. AI Alerts, Contentsquare’s newest monitoring system, enables businesses to “detect and react to improve customer engagement without manual effort.”
To that end, Contentsquare is used by digital, content, product, analytics, acquisition, IT and UX teams inside numerous companies. Its customers include Walmart, Samsung, Sephora, Tiffany, LVMH, AccorHotels, Goldman Sachs, Avis, GoPro, Ikea, Nissan and others.
Meanwhile, Contentsquare says the new capital will help Contentsquare increase research and development focused on AI and predictive analytics. It also will be deployed for further expansion across the Americas, Europe, Asia and Middle East.