Contentsquare announced today that it has acquired its rival in digital experience analytics, Hotjar. The acquisition will bring together two important players in the digital user experience and analytics space. The company has not revealed any details of the deal.
Contentsquare was founded in Paris in 2012. Its customers include Microsoft, Adobe, Verizon, and American Express. All these companies benefit from the AI and predictive analytics to collect data on how common users interact with their websites and apps. Customer engagement actions like scrolls, swipes, and clicks are monitored to gather information on user behaviour, identify problems on web pages, and the connection of these with revenue. Hotjar began its journey in 2014. It offers similar services like Contentsquare but is more focused on the SMB market.
Contentsquare chief product officer Lucie Buisson told that Hotjar is a product that can be used to begin the digital experience. It can be set up in just three clicks. He added that moving on businesses will require more wholesome experiences that can be provided by Contentsquare. Both the companies have in common, the goal to provide access to customer insights with the help of data visualization. With the acquisition, it will now offer its services in the global market. It will also help in the digital transformation of businesses because the pandemic caused the business to turn online. Buisson added that the pandemic made the digital transformation faster. It has also pressurized companies to provide a better customer experience with every click.
Contentsquare raised $500 million in a recent funding round at a $2.8 billion valuation. The company will now have a workforce of 1,000 employees.
Now Contentsquare services will be open to all businesses regardless of their size. They will also offer better services to their existing enterprise clients. It is also planning to improve its AI for better predictive capabilities. Buisson said that consumer behaviour online is continuously changing and there is an increased need to understand these trends and needs of the customer to deliver a better experience.
