French digital analytics company Contentsquare, which acquired Israeli startup Clicktale in 2019, said Wednesday it has raised a massive $500 million Series E investment round at a $2.8 billion valuation led by SoftBank Vision Fund 2.
The funds raised will help the firm further develop its core technology, boost its presence in Europe and the US and expand to new markets in Asia. The company also plans to open up 1,500 new positions globally and double the number of workers at the firm’s R&D center in Ramat Gan, Israel, to 300 in the coming year, the company said.
Existing investors in the French firm, founded by CEO Jonathan Cherki, include Eurazeo, Bpifrance, KKR, Canaan, Highland Europe, and funds and accounts managed by BlackRock — most of which also participated in this current round.
The Contentsquare platform analyzes customer behavior through trillions of anonymous web, mobile and app interactions, and transforms this knowledge into intelligent recommendations that increase user conversion, revenue, engagement and growth, the company said.
The firm said it has posted an annual recurring revenue growth rate of 121% over the past four years, with 50% of the business currently generated in the US. It also said that 30% of the Global Fortune 100 firms in retail, luxury, entertainment, telco, travel, automotive, B2B and finance are among its customers.
Contentsquare employs 800 workers in North America, Europe and in Asia Pacific countries. The Clicktale team forms the company’s R&D center in Ramat Gan and employs 150 people.