Contentsquare, the digital user experience and analytics specialist whose clients include NatWest, Pizza Hut, T-Mobile, Skoda and Lovehoney, has acquired rival business Hotjar for an undisclosed sum.
Founded in Paris in 2012, the Contentsquare platform uses artificial intelligence and predictive analytics to derive insights on how end users are interacting with their websites and apps.
By monitoring customer engagement actions such as scrolls, swipes, and clicks, the platform enables clients to garner deep insights on user behaviour, identify bottlenecks or problematic pages where the user dropped off, and how this affects revenue or conversion rates.
Founded in 2014, Hotjar offers a similar proposition to Contentsquare, although it is aimed more at the SME market. By joining forces, the two companies aim to “serve the global market end-to-end”, targeting businesses of all sizes and supporting their digital transformation strategies.
The acquisition comes follows Contentsquare securing $500m in funding at a $2.8bn valuation.
Contentsquare chief product officer Lucie Buisson said: “Covid has accelerated digital transformation – digital competition is fierce, every product is one click away.
“The only way for brands to keep customers happy and loyal is to deliver an amazing experience. If your experience is human-centered and empathetic, the customer will trust you and stick with you. We are on the cusp of another digital evolution, and we want to continue to be at the forefront — [the] future of engagement has a heavy digital component and there is much to learn from how people behave.
“Being able to analyze data from companies of all sizes and industries allows Contentsquare and Hotjar to hone innovation to meet market needs as they evolve; we will have a more holistic vantage point by working together.
“Making our AI smarter will be key in expanding predictive capabilities, and in further transforming the way experience stakeholders work. Digital consumer behavior is forever evolving and being able to detect behavior trends and better understand needs and intentions will enable better experiences that more closely reflect the expectations of today’s consumers.”
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