Contentsquare, a French startup that meshes AI with predictive analytics to present manufacturers insights into how customers are interacting with their web sites and apps, has raised $190 million in a sequence D spherical of funding.
The elevate comes as billions of individuals world wide have been pressured to stick to lockdown and social distancing measures pushed by the COVID-19 disaster, which has led to a large uptick in individuals shopping for issues on-line. Contentsquare is designed to assist corporations that wish to optimize their digital properties by exhibiting them not solely the place they might be dropping prospects, however why.
When built-in with an internet site or app, Contentsquare screens content material, person expertise, pricing, and technical efficiency. The platform crunches billions of contact and mouse actions, from when a possible buyer enters a website to once they exit. This can floor the affect of specific occasions reminiscent of 404 errors, or different problematic pages within the course of, that contributed to a customer dropping off. A so-called “AI-powered system of smart alerts” notifies companies each time guests deviate from beforehand benchmarked “normal behavior.”
The Contentsquare platform can acknowledge particular person components on an internet site or app and attributes tags, reminiscent of a menu or button. This “autozone” know-how can house in on problematic options and inform corporations about any adjustments that they might have to make. The platform makes use of metrics reminiscent of “attractiveness,” “engagement rate,” “revenue attribution,” and “hesitation” to know which elements trigger frustration and attrition. For instance, it appears to be like at how a lot time elapses between a mouse motion and the primary click on on a button, which can reveal whether or not the shopper understands the directions simply.
Above: Contentsquare: Zoning
Moreover, corporations can replay particular person looking classes to see first-hand how a person was interacting with their app or web site.
Above: Contentsquare: Platform session replay
Prior to now, Contentsquare had raised $122 million, together with a $60 million tranche final yr, and with one other $190 million within the financial institution the corporate mentioned that it’s going to double down on its international progress and spend money on its core predictive analytics platform. The spherical was led by BlackRock’s Private Equity Partners crew, with participation from Bpifrance, Eurazeo Growth, Canaan, GPE Hermes, Highland Europe, H14, and KKR.
In the previous yr, Contentsquare mentioned it has doubled its international head rely to 600, and now runs places of work in its native Paris in addition to Munich, London, New York, San Francisco, Tel Aviv, Tokyo, and Singapore.
Other notable gamers within the house embody Atlanta-based FullStory, which raised a $32 million spherical of funding final yr from big-name backers together with GV, and London-based Glassbox, which final month closed a $40 million funding.
The COVID-19 impact
Contentsquare claims some 700 enterprise purchasers together with American Express, Best Buy, Dell, Salesforce, Dell, T-Mobile, and Ikea. In response to the worldwide pandemic, Contentsquare launched the Covid-19 eCommerce Impact Data Hub, which analyzes how the pandemic has impacted digital client conduct world wide, together with visitors, web page views, time-per-session, transactions, dialog charge, and extra.
Above: Contentsquare: Traffic to ecommerce properties throughout COVID-19
Digging down into the numbers, Contentsquare knowledge reveals that whereas digital gross sales general have surged, it varies by business. Online groceries have skyrocketed, whereas client electronics and leisure have additionally seen important will increase. Tourism, in the meantime, is down.
For Contentsquare itself, chief advertising officer Aimee Stone instructed VentureBeat that it has seen a spike in curiosity from entities in particular sectors that wish to enhance their on-line choices. “We’ve seen serious buyers from companies in personal financial services like taxes and insurance and omnichannel retailers who are under intense pressure to transform their digital site and apps to be successful in the new normal,” she mentioned.