Squarespace is now price $ 10 billion
Web site builder and hosting firm Squarespace managed to boost a further $ 300 million in its final spherical of funding and the corporate is now valued at $ 10 billion.
Whereas the corporate’s present backers, Accel and Common Atlantic, have participated on this new spherical of funding, quite a lot of new backers together with Dragoneer, Tiger World, D1 Capital Companions, Constancy Administration & Analysis Firm, funds and accounts suggested by T. Rowe Value Associates, Inc. and Spruce Home additionally contributed.
In a single Publish On his website, Squarespace founder and CEO Anthony Casalena welcomed the brand new buyers who will permit the corporate to additional develop its product line, saying:
“We’re delighted to welcome our new buyers as we proceed to develop our product line to serve our clients world wide.”
Squarespace’s newest funding spherical comes lower than two months after the corporate confidentially filed for its IPO by means of a direct itemizing or preliminary public providing.
The corporate was first based in 2003 and was primed till 2010 when it raised $ 38.5 million in a Collection A funding spherical co-led by Accel and Index Ventures. Then in 2014, Squarespace was in a position to increase a further $ 40 million, however three years later it introduced in $ 200 million from Common Atlantic to additional fund its growth.
Over its 18 years of existence, Squarespace has helped tens of millions of customers world wide construct a web based presence thanks partly to its drag-and-drop web site builder. Lately, nevertheless, the corporate has grown into the e-commerce market by permitting customers to host on-line shops on its website.
Web site constructing has reached an all time excessive throughout the pandemic and in our more and more digital world, the demand for web site builders and hosting providers will solely enhance sooner or later.
By way of TechCrunch