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The fresh funding will be used to fuel worldwide expansion, expand its community of channel and technology partners, and drive new technology innovation at Contentstack's labs.
FREMONT, CA: Contentstack, the leading Content Experience Platform (CXP), has declared that 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, as well as new investment Georgian, took part. This raises the total money raised by Contentstack to $89 million. The fresh funding will be used to fuel worldwide expansion, expand its community of channel and technology partners, and drive new technology innovation at Contentstack's labs.
According to a recent Twilio analysis, COVID-19 was the digital accelerant of the decade, as it accelerated firms' digital communications strategies by an average of 6 years. Given this, it is not surprising that Aragon Research predicts the CXP market will expand to $28.8 billion by 2025 (up from $11 billion in 2019); 50% of large organizations are projected to switch to a CXP by the end of 2022 alone. Contentstack is ideally positioned to benefit from this expanding industry by meeting customer needs with modern, MACH-based solutions that surpass traditional product suites and antiquated technologies.
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Since closing its Series A round, Contentstack's customer base has grown by more than 150 percent, and the number of Fortune 1000 organizations that have embraced its platform has more than doubled. Broadcom, Chico's FAS, HP, La Perla, Leesa Sleep, McDonald's, and NBC are among the new clients. Because Contentstack served as these businesses' primary content center, the amount of digital content powered by Contentstack increased by a whopping 60X within the same time period. Every month, individual clients offer petabytes of content to their audiences.
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