Contentstack, the leading Content Experience Platform (CXP), announced it has raised $57.5 million in series B financing. The oversubscribed round was led by Insight Partners, who also led the company’s series A round.
Existing investors Illuminate Ventures and GingerBread Capital also participated, as did new investor Georgian. This brings Contentstack’s total amount raised to $89 million.
The company plans to use the new capital to fuel international growth, expand its ecosystem of channel and technology partners and accelerate new technology innovation that has been incubating in Contentstack’s labs.
Contentstack recorded over 150% growth of its customer base since closing its series A round and more than doubled the number of Fortune 1000 companies that have adopted its platform, the statement said. New customers include Broadcom, Chico’s FAS, HP, La Perla, Leesa Sleep, McDonald’s and NBC. As a result of Contentstack acting as these organizations’ core content hub, the amount of digital content powered by Contentstack grew a staggering 60X over the same time period. Individual customers now serve petabytes of content to their audiences every month.
“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 Sampat, founder and CEO of Contentstack. “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. 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.”
“Contentstack has risen from being the pioneer of headless CMS to establishing itself as an industry leader in its category and we are excited to support its next phase of growth,” said Teddie Wardi, Managing Director at Insight Partners and Contentstack board member. “Given our scale, we have a unique vantage point on global trends; Contentstack is tapping into the tailwinds of one of the biggest market shifts we’ve ever seen. Contentstack is indispensable for companies that want to accelerate their digital journey and maximize the business rewards promised by digital transformation.”
“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.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.