This Contentsquare company profile covers the company's valuation, revenue, funding rounds, investors and history. Contentsquare works in software, with a focus on digital experience analytics. It was founded in 2012 and is headquartered in Paris, Île-de-France, France. Its latest valuation on record is US$5.6 billion (July 2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Total funding | About US$1.4 billion, including debt, after the 2022 round | July 2022 | Business Wire |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jul 2022 | Series F (equity) plus debt | US$600M (US$400M equity, US$200M debt) | US$5.6B | Sixth Street Growth (lead); KKR, SoftBank Vision Fund 2, BlackRock-managed funds | Tech.eu |
| May 2021 | Series E | US$500M | About US$2.8B | SoftBank Vision Fund 2 (lead) | Business Wire |
Contentsquare timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2012 — Contentsquare is founded in Paris by Jonathan Cherki (CEO).
- May 2021 — Series E: US$500M, valuing the company at About US$2.8B. Investors: SoftBank Vision Fund 2 (lead).
- Jul 2022 — Series F (equity) plus debt: US$600M (US$400M equity, US$200M debt), valuing the company at US$5.6B. Investors: Sixth Street Growth (lead); KKR, SoftBank Vision Fund 2, BlackRock-managed funds.
- July 2022 — Total funding: About US$1.4 billion, including debt, after the 2022 round.
Investors
Overview
Contentsquare provides digital experience analytics: software that shows companies how people actually use their websites and apps, so they can find what frustrates users and improve conversion. Its tools capture interactions such as clicks, scrolls, taps and hesitations across millions of sessions, then visualise them as heatmaps, journey maps and session replays, and use AI to surface problems such as broken buttons, confusing forms or slow pages. Retailers, banks, travel companies and media groups use it to increase sales and improve customer experience. In July 2022 it raised US$600 million, including US$400 million in equity, at a US$5.6 billion valuation, making it one of France's most valuable software companies.
Jonathan Cherki founded Contentsquare in Paris in 2012 and serves as CEO. He started the company shortly after business school, believing that companies had plenty of data about what visitors bought but little understanding of why they behaved as they did on a site. Contentsquare has since expanded through acquisitions and operates globally, with a large presence in the US, UK, Israel and elsewhere.
Products
- Experience Analytics: heatmaps, journey analysis and zone-based analytics for websites and apps.
- Session replay: anonymised recordings of user sessions to diagnose problems.
- Product Analytics: event-based analytics, expanded through its acquisition of Heap.
- Hotjar: easy-to-use heatmaps, recordings and surveys for smaller businesses, acquired in 2021.
- Voice of Customer: surveys and feedback tools.
- Experience Monitoring: tracking errors and performance that harm user experience.
- AI assistant: natural-language insights that answer questions about user behaviour.
Funding
Contentsquare raised from investors including Highland Europe, Eurazeo, Canaan Partners and Bpifrance before a US$500 million Series E led by SoftBank Vision Fund 2 in May 2021. In July 2022 it announced US$600 million in growth financing, comprising a US$400 million Series F led by Sixth Street Growth, with KKR, SoftBank Vision Fund 2 and BlackRock-managed funds, plus US$200 million in debt from banks, at a US$5.6 billion valuation, double the Series E. Total funding reached about US$1.4 billion. We haven't found a newer priced round, so the 2022 valuation should be treated as historical.
Acquisitions
Contentsquare has grown partly through acquisitions. It bought Hotjar, a popular tool for small and mid-sized businesses, in 2021, and Heap, a product analytics company, in 2023–2024. It has also acquired companies in session replay, accessibility and AI. These deals broadened its range from large enterprises to smaller customers and from marketing teams to product teams.
Business model
Contentsquare sells annual software subscriptions, typically priced by traffic volume (sessions or page views) and product modules. Large enterprises pay substantial fees, while Hotjar serves smaller businesses with self-service plans. Expanding usage across teams and adding modules increases contract values over time.
Competition
Contentsquare competes with digital analytics and experience tools such as Quantum Metric, FullStory, Glassbox, Microsoft Clarity (free), Adobe Analytics, Google Analytics, Amplitude, Mixpanel and Pendo. Its strengths are enterprise relationships, a broad product suite and AI-driven insights. Free tools from Microsoft and Google put pressure on pricing at the lower end.
Contentsquare at a glance
Contentsquare is a Paris-founded digital experience analytics company started in 2012 by Jonathan Cherki. It helps businesses understand how people use their websites and apps, and owns Hotjar and Heap. It raised US$600 million in July 2022, including a US$400 million Series F led by Sixth Street Growth, at a US$5.6 billion valuation.
Timeline
- 2012: founded in Paris.
- 2016–2019: grows with large retailers and expands to the US.
- May 2021: raises US$500 million led by SoftBank; acquires Hotjar.
- July 2022: raises US$600 million at US$5.6 billion.
- 2023–2024: acquires Heap and adds AI features.
Why experience analytics matters
Traditional web analytics show what pages people visit and where they leave, but not why. A checkout page might lose many visitors because a button is hidden on mobile, a promo code field causes confusion or a page loads slowly. Experience analytics captures detailed behaviour to reveal such issues. For large e-commerce sites, even small improvements in conversion can mean millions in extra revenue, which justifies the cost of these tools.
Privacy considerations
Recording user sessions raises privacy questions, particularly in Europe under GDPR. Contentsquare and its peers mask personal information such as passwords and payment details, rely on consent frameworks and offer data controls. Companies using such tools must configure them carefully and inform users in their privacy policies.
Who uses Contentsquare
Contentsquare's customers include retailers, banks, insurers, travel companies, telecoms, media groups and software companies, used by digital, marketing, product and UX teams. Hotjar adds many small and mid-sized businesses.
Valuation context
Contentsquare's 2022 valuation came just after the peak in software multiples. Since then, public SaaS valuations fell, so its current value may differ. Our guide to the largest European startups provides comparisons.
Risks
- Free competition: Microsoft Clarity and Google Analytics offer free features.
- Privacy regulation: stricter rules could limit data collection.
- Integration: combining acquired products into one platform takes effort.
- Stale valuation: the last mark is from 2022.
Questions for buyers
- How is personal data masked and stored?
- How is pricing calculated as traffic grows?
- Which tools do you already use that overlap?
AI in digital analytics
Analytics tools collect vast amounts of behavioural data, but teams often lack time to analyse it. Contentsquare has added AI features that automatically detect unusual drops in conversion, identify the likely causes and answer questions in plain language, such as which pages frustrate mobile users most. These features aim to make insights accessible to more people across a company, not just specialist analysts.
Latest developments (October 2026)
Contentsquare has not announced a new priced round since its 2022 Series F at US$5.6 billion, which remains the latest sourced valuation. The Paris-founded company has continued to integrate acquisitions, including Heap and Hotjar, into a broader digital experience analytics platform with AI features. It has been mentioned as a possible IPO candidate but has not announced a listing. See our largest French startups guide.
What to watch
Watch AI product adoption, further acquisitions, IPO plans and new funding.
Takeaways
Digital teams can see how users experience sites and apps. Founders can see how acquisitions can expand a product suite. Investors should treat its US$5.6 billion valuation as a 2022 mark.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Contentsquare do?
Contentsquare is a software / digital experience analytics company headquartered in Paris, Île-de-France, France. It was founded in 2012.
What is Contentsquare's valuation?
Contentsquare was valued at US$5.6 billion as of July 2022, according to Business Wire. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Contentsquare make?
Contentsquare is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Contentsquare's latest funding round?
The most recent financing we have verified is a series f (equity) plus debt in Jul 2022: US$600M (US$400M equity, US$200M debt), at a valuation of US$5.6B. Source: Tech.eu.
Who are Contentsquare's investors?
Investors named in public announcements include Sixth Street Growth, KKR, SoftBank Vision Fund 2, BlackRock, Eurazeo and Highland Europe.
Who founded Contentsquare?
Contentsquare was founded in 2012 by Jonathan Cherki (CEO).
Is Contentsquare a public company?
No. Contentsquare is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Contentsquare headquartered?
Contentsquare is headquartered in Paris, Île-de-France, France.