The global enterprise content management system market has experienced massive growth in recent years. According to Allied Market Research, a US-based full-service market research and business-consulting firm, the market for the entire enterprise content management system has reached $21.5 billion in 2020 and is expected to hit $53.2 billion by 2030. Last year, venture capital firms have invested over $118 million in CMS startups.
Contentstack is one of the leading providers of headless CMS platforms for the enterprise market. The US-based CMS startup today announced that it has raised $80 million in a Series C funding round, bringing the total raised capital to $169 million.
Georgian, a Canadian-based fintech company investing in high-growth software companies, and Insight Partners, a global software investor focusing on high-growth technology and Internet startup, co-led this latest funding round, with participation from Illuminate Ventures.
The fresh investment will allow the company to continue supporting product development to meet growing consumer demand for omnichannel and personalized experiences. The funding will also be used to build partnerships and support expansion programs.
As part of the transaction, Georgian’s Lead Investor Emily Walsh will join the Contentstack Board of Directors along with Contentstack CFO David Overmyer.
In a released statement via the company’s press release, Georgian’s Lead Investor Emily Walsh said: “We look for high-growth companies with great leadership and strong work culture. We also love to help disruptors do what they do best.”
For all these reasons, we chose to double down on our investment. Contentstack’s ability to ensure customers are successful while also innovating at record speeds positions them as the leader in the CMS market. We are proud to co-lead this round and provide the Company with the support required for true category leadership, Walsh added in the released statement.”
Founded in 2018, and based in San Francisco, California, Contentstack is a global leader in the Content Experience Platform (CXP) space and a known composable architecture pioneer. The company develops a cloud-based content management system geared toward the enterprise market.
Contentstack’s main rivals in the highly lucrative CMS market are Strapi, Kontent, Prismic, and the Austrian-based Storyblok, which recently raised $47 million for its CMS platform aimed at non-techie users. Currently, the company employs more than 400 employees. Its client base includes global companies and leading brands such as JPMorgan Chase, Mattel, H, McDonald’s, Shell, and several public sector agencies.