On Tuesday, the Content Experience Platform Contentstack announced the closing of an $80 million Series C fundraising round, enabling marketers and developers to create composable digital experiences. With investment from Illuminate Ventures, Georgian and Insight Partners co-led the round. The $169 million that has been raised so far has been made possible by the continued growth of the three firms’ investments in Contentstack.
According to Contentstack, the money will be used to support enterprise businesses as they move toward composability, giving them the tools they need to satisfy customer demand for omnichannel and customized experiences.
The money will also be used by the business to expand and hire in Virar-Mumbai, Hyderabad, Bengaluru, and Pune.
Emily Walsh, the principal investor for Georgian, and David Overmyer, the company’s CFO, will join the board of directors for Contentstack.
“We seek out high-growth businesses with outstanding management and vibrant workplace culture. We also enjoy assisting disruptors in doing what they do best” Walsh added. “We decided to increase our investment because of all of these factors. The success of their customers and their capacity to innovate at breakneck rates distinguish Contentstack as the market leader in content management systems”.
The Indian content management system (CMS) Contentstack represents international brands like Chase, Holiday Inn, Levi’s, Mattel, Mitsubishi, McDonald’s, and Shell.
Nishant Patel, co-founder, and CTO of Contentstack expressed his excitement about his company’s position as one of the fastest-growing SaaS businesses in India.
Since Contentstack’s Series B in June 2021, its expertise has contributed to an increase in the number and scope of use cases as more businesses have chosen to put composable architecture at the core of their digital initiatives.
With over 400 workers and close to 50,000 users throughout more than 70 international markets, Contentstack has expanded significantly. It kept a 97% customer retention rate despite doubling the number of clients served and almost tripling ARR.
With 42% of them having more than $1 billion in annual revenue and 35% of them being publicly traded, it asserts to scale with the biggest global brands.
Additionally, the company provided a cloud-neutral solution that worked with both Microsoft Azure and AWS in the US and Europe.