Contenful now worth $3bn after fresh capital rally ahead of rumoured US IPO

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SAN FRANCISCO, CALIFORNIA - OCTOBER 07: A pedestrian walks by a WeWork office on October 07, 2019 in San Francisco, California. Days after withdrawing its registration for an initial public offering, WeWork also warned employees that the company could be set to lay off nearly 2,000 people, about 16 percent of its workforce. (Photo by Justin Sullivan/Getty Images)
The German company, founded in 2012, operates content management systems behind websites like Electronic Arts (EA), Spotify Technology SA and WeWork.

Content platform provider Contentful, led by a former Microsoft and Amazon executive, has hit a valuation of $3bn today after its latest funding round.

The fundraiser, led by investment giant Tiger Global, rallied together $175m for its expansion into marketing and sales.

The German company, founded in 2012, operates content management systems behind websites like Electronic Arts (EA), Spotify Technology SA and WeWork.

The capital rally follows reports in May that Contentful is eyeing a listing on the US stock market – which could see its valuation climb to $5bn.

If Contentful, led by Steve Sloan, goes ahead with the initial public offering (IPO) it will join a flurry of foreign companies looking to capitalise on the US’s appetite for fresh listings.

IPOs from overseas have pulled in more than $23.5bn as of 22 June, according to Refinitiv.

The figure dwarfs that of last year’s $4.6bn, as investors double down on international offerings.