Contentsquare, a global leader in digital experience analytics, announced it has signed a definitive agreement to acquire leading product analytics platform Heap. This acquisition will bring together two complementary industry players, unlocking a new era of customer insights and transforming the way businesses and organisations optimise their customers’ online experience.
This will be Contentsquare’s largest acquisition to date, and will allow the company to accelerate its product vision, enabling the delivery of an all-in-one analytics platform that will serve as an advanced alternative to traditional analytics.
Founded in Silicon Valley in 2013, Heap has fast become one of the top Product Analytics platforms, with customers across all industries and market segments — from SMB to enterprise. Today, more than 1,200+ companies use Heap’s cross-device and cross-channel analytics to visualise customer engagement over time and improve adoption and retention.
“The acquisition of Heap will extend Contentsquare’s platform capabilities with deeper and broader insights. It marks a critical milestone in our journey to maximise value for customers through breaking down data silos, fostering collaboration and giving all teams a 360 view of their customers’ experience.” said Jonathan Cherki, CEO & Founder of Contentsquare. “Together we are uniquely positioned to transform the experience analytics industry and give everyone the experience they love, seek and deserve.”
Founded in France in 2012, Contentsquare is a leading digital experience analytics provider that helps businesses and organisations understand how customers are using their websites and apps. In 2021, Contentsquare acquired SMB analytics provider Hotjar, extending its offering to serve the market from SMB to Enterprise. Today, Contentsquare serves more than 1.3 million websites worldwide, including 1,300+ enterprise brands.
“Joining the Contentsquare group is an exciting opportunity for Heap. Together we will shape this category, becoming the benchmark for experience analytics,” said Ken Fine, CEO at Heap. “Integrating our two best-of-breed platforms enables us to help our customers understand and improve the complete customer journey and deliver the best experiences, improving NPS and customer lifetime value.”
With a combined TAM of US$70B, Contentsquare and Heap will be able to tap into new markets and opportunities, driving growth and innovation on a global scale. Following the acquisition, leading tech investors including Menlo Ventures, NewView Capital, Goldman Sachs Asset Management, and DTCP, among others, will become Contentsquare shareholders.
“Together we will be able to provide all teams with the What, Where, When, How and Why of user experiences,” continued Jonathan Cherki. “What is happening online, where and when users drop off, how they behave on a site or app and why. Having access to both macro insights and deeper session-level insights will enable teams to build trust, boost conversion and retention, and increase customer lifetime value.”
The acquisition will further underscore Contentsquare’s commitment to innovation and client success, bolstered by a highly-skilled R&D team of over 700 people.
In a recent report, Gartner states that “with the growing convergence between categories of CX analytics tools (web, digital experience and product), more advanced product leaders need to manage and contend with multiple solutions that have overlapping digital analytics capabilities to improve their customer experiences in an omnichannel environment.” Gartner also anticipates that “by 2028, 70% of all product managers will manage their customer experience (CX) goals based on customer analytics, increasing more than threefold from 19% in 2023.”
The transaction, which is expected to be completed in the fourth quarter of 2023, is subject to customary closing conditions.