San Francisco-based enterprise-focused CMS Contentstack has raised $57.5 million in series B financing. The oversubscribed round was led by Insight Partners, who also led the company’s series A round. Existing investors Illuminate Ventures and GingerBread Capital also participated, as did new investor Georgian. This brings Contentstack’s total amount raised to $89 million.
The company plans to use the new capital to fuel international growth, expand its ecosystem of channel and technology partners and accelerate new technology innovation that has been incubating in Contentstack’s labs.
Contentstack said it recorded over 150% growth of its customer base since closing its series A round and more than doubled the number of Fortune 1000 companies that have adopted its platform. New customers include Broadcom, Chico’s FAS, HP, La Perla, Leesa Sleep, McDonald’s and NBC.
With the backing of Georgian, a significant investor in Shopify, Kony and Tealium, Contentstack will tap into Georgian’s expertise around AI and machine learning and gain access to the firm’s unique technology platform.
This will enable Contentstack to infuse AI/ML into all aspects of its operations, from the way it delivers new platform capabilities to its award-winning customer success operations.