BERLIN (Reuters) - Contentful, a startup based in Berlin and San Francisco, said on Wednesday it had raised $80 million from investors led by Sapphire Ventures to scale up its content management systems for commercial websites.
The Series E funding round was also backed by investors including General Catalyst, Salesforce Ventures and others, Contentful said in a statement, giving it a valuation that is “rapidly approaching $1 billion”.
Contentful, whose latest funding brings the total amount of investment it has raised to $158 million, said a shift by companies to digital marketing channels was accelerating due to the coronavirus pandemic.
“The COVID-19 pandemic increased the reliance of brands on digital channels as the primary means of customer engagement,” it said. The economy “has become, almost overnight, a digital-only economy.”
Reporting by Douglas Busvine; editing by Jason Neely