Content experience platform Contentstack on Tuesday secured $80 million (Rs 649 crore), in a series C funding round co-led by existing investors Insight Partners and Toronto-based Georgian Partners. The round also saw participation from Illuminate Ventures.
The Mumbai-based player plans to deploy these funds in accelerating operations and hiring across Hyderabad, Bengaluru, Pune and Virar-Mumbai.
According to the statement, the content management system provider has raised $169 million, so far. With this fundraise, the two existing investors topped up their investment in Contentstack following a Series B capital raise in June 2021, in which, the firm raised about $57.5 million from the two players, as per the firm’s website. In October 2019, it raised $31.5 million in a Series A round led by Insight Partners.
“We look for high-growth companies with great leadership and a strong work culture. For these reasons, we chose to double down on our investment in Contentstack. Its ability to ensure customers are successful while also innovating in the CMS market positions them as a leader,” Georgian Partners’ Emily Walsh said, commenting on the fundraise.
With this fundraise, the content experience platform will onboard Georgian’s lead investor Walsh to its board.
“Our mission is to help support and drive massive growth in the Indian startup ecosystem. Recently sponsoring the Nascomm Product Conclave helped energize that mission; you can expect more of that to come,” said Nishant Patel, the founder and chief technology officer at Contentstack.
Founded in 2015 by Patel, Contentstack’s clientele includes brands including Chase, Express, Mattel, McDonald’s, Mitsubishi, Holiday Inn, Icelandair, Riot Games, Sephora, and Shell, among others. It claims to have reported over 150% growth since its Series A fundraise in Oct 2019.
With chief executive officer Neha Sampat at its helm, the firm helps navigate brand storytelling, using technology for brands to deliver dynamic digital customer experience. Its key product offering Automation Hub claims to help automate and streamline activities across technologies and vendors in real-time. “This also allows them to unlock digital experience innovation more broadly and realize a significantly greater return-on-investment,” the company says.
According to a research forecast quoted by the company, the content experience platforms market is expected to grow to about $28.8 billion by 2025, up from $11 billion in 2019, while about 50% of large enterprises are expected to shift to content experience platform by the end of 2022.