Contentstack, a startup that offers a headless content management system (or a "content experience platform" in marketing-speak), today announced that it has raised a $57.5 million Series B round. The round, which the company says was oversubscribed, was led by Insight Partners, which also led its Series A round. New investor Georgian and existing investors Illuminate Ventures and GingerBread Capital also participated. With this, the company has now raised a total of $89 million.
"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," said Neha Sampat, founder and CEO of Contentstack. "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."
The company says it saw its customer base grow over 150% since closing its $31.5 million Series A round in October 2019. Among its new customers are Broadcom, Chico’s FAS, HP, La Perla, Leesa Sleep, McDonald’s and NBC.
In recent months, Contentstack launched a new user interface for these customers and the company argues that Georgian's focus on AI and machine learning will allow it to bring more of these modern technologies to its platform as well.
"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."
The company plans to use the new funding to accelerate its investments in this technology, fuel its international growth and expand its partner ecosystem.