According to the company, Tidemark and Base10 Advancement Initiative were added to its cap table in the round, which also saw participation from previous investors. Prior to the round that Contentful announced today, its most recent fundraising event was an $80 million Series E led by Sapphire Ventures in June 2020.
PitchBook data indicates that that round was raised at a roughly $550 million valuation, while our reporting at the time of the company’s Series E includes the tidbit that “a Contentful spokesperson [told TechCrunch] that [the company was] approaching a $1 billion” valuation. Split the difference and it’s clear that Contentful’s new valuation is a multiple of what the company was worth a year ago.
But before we dig into metrics and results — or really a lack thereof — let’s take a minute to chat through Contenful’s business.
What does it do?
Sloan explained Contentful by analogy, saying that