Headless CMS business Contentful today announced that it has actually raised an $80 million Series E financing round led by Sapphire Ventures, with involvement from General Catalyst, Salesforce Ventures and a number of other new and current investors. With this, the company has actually now raised a total of $158.3 million and a Contentful representative tells me that it is approaching a $1 billion assessment. In addition, the business likewise today revealed that it has worked with Bridget Perry as its CMO. She previously led Adobe’s marketing efforts across Europe, the Middle East and Africa.
Presently, 28% of the Fortune 500 use Contentful to handle their content throughout platforms. The company states it has an overall of 2,200 paying consumers right now and these consist of the likes of Spotify, ITV, the British Museum, Telus and Urban Outfitters.
Steve Sloan, the business’s CEO who signed up with the company late last year, associates its success to the fact that essentially every business today is in the process of determining how to end up being digital and serve its clients across platforms– and that’s a procedure that has actually only been accelerated by the coronavirus pandemic.
“10 or fifteen years back, when these material platforms or content management systems were developed, they were a) truly developed for a web-only world and b) where the website was an enhance to some other organisation,” he stated. “Today, the mobile app, the mobile web experience is the front door to every service in the world. And that’s never ever been anymore clear than in this recent COVID crisis, where we’ve seen numerous, many services– even those that are really conventional organisations– realize that the dominant and, in some cases, only way their customers can engage with them is through that digital experience.”
However as they are taking a look at their alternatives, lots of choose that they don’t just want to take an off-the-shelf product, Sloan argues, because it does not permit them to develop a distinguished offering.
Sloan noted that putting the round together was a bit of an adventure. Contentful’s existing investors approached the business around the holidays due to the fact that they wished to make a bigger financial investment in the business to sustain its long-lasting growth. However at the time, the company wasn’t ready to raise new capital yet.
“And after that in January and February, we had inbound interest from individuals who weren’t yet investors, who concerned us and said, ‘hey, we truly want to invest in this business, we’ve seen the trend and we truly believe in it.’ We went back to our insiders and stated, ‘hey, we’re going to think about actually moving in our timeline for raising capital,” Sloan informed me. “And after that, best about that time is when COVID truly broke out, particularly in Western Europe in North America.”
That didn’t faze Contentful’s investors, though.
“Among the things that really stood out about our investors– and especially our lead investor for this round Sapphire– is that when everybody else was truly, actually frightened, they were truly clear about the opportunity, about their belief in the group and about their understanding of the progress we had currently made. And they were actually unflinching in regards to their assistance,” Sloan stated.
Unsurprisingly, the business plans to use the brand-new financing to expand its go-to-market efforts (that’s why it employed Perry, after all) however Sloan likewise noted that Contentful plans to invest a fair bit into R&D along with it aims to assist its consumers solve more adjacent problems too.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.