Content Experience Platform (CXP) Contentstack has raised $80 million in its Series C funding round led by B2B SaaS investment firm Georgian and Insight Partners.
The company plans to use the funds to support enterprises on their path to composable digital experience through content, helping enterprises meet consumer demand through omnichannel reach, the SaaS firm said in a prepared statement on November 15.
Georgian’s Lead Investor Emily Walsh will join the Contentstack board along with Contentstack CFO David Overmyer, the statement said.
Founded in 2018 by Matthew Baier, Neha Sampat, and Nishant Patel, Contentstack helps organizations, marketers, and developers to deliver composable digital experiences. Its customers include ASICS, Chase, Express, Holiday Inn, Icelandair, Mattel, McDonald’s, Mitsubishi, Riot Games and Shell.
Contentstack is also a founder of the MACH Alliance, setting the industry agenda for open and composable technology that is microservices-based, API-first, Cloud-native SaaS, and Headless.
“Contentstack was incubated in India-based Raw Engineering before it was spun out to take on a more global presence in 2018. Our mission is to help support and drive massive growth in the Indian startup ecosystem. Recently sponsoring the NASSCOM Product Conclave helped energize that mission; you can expect more of that to come,” said cofounder Patel in the statement.
Contentstack basically automates and streamlines hundreds of activities across technologies and vendors in real-time. Enterprises can retire costly legacy content management systems (CMS). This also allows them to unlock digital experience innovation more broadly and realize a significantly greater return on investment, the firm said.
“The company will also use the funds to continue to grow and recruit in Hyderabad, Bengaluru, Pune and Virar-Mumbai,” Patel added.
The San Fransico and Pune-based firm raised around $57.5 million in its series B round in June of 2021. With the funding, the company aimed to foray into international geographies like the EMEA countries. With the new round of funding, the total capital raised is around $169 million.
“Since Contentstack’s Series B in June 2021, its expertise has led to growth in size and scale of use cases as more enterprises have adopted composable architecture at the center of their digital strategies,” the firm’s statement said.
Since 2021, Contentstack’s workforce grew to more than 400 employees and approaching around 50,000 users in 70 global markets.“We have Doubled the number of customers served and nearly tripled ARR, while maintaining a 97 percent customer retention rate…we have scaled with the largest global brands – 42 percent with greater than $1B in revenue, and 35 percent of them are publicly traded. We also delivered a cloud-agnostic solution supporting both AWS and Microsoft Azure in the US and Europe,” the statement said.
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