Squarespace has put up $300 million in a round of funding that principles the company at a staggering $ billion valuation.
New backers include Dragoneer, Tiger Internationally, D1 Capital Partners, Faithfulness Management & Research Little}, funds and accounts steered by T. Rowe Amount Associates, Inc. and Jazz House. Existing backers Accel and General Atlantic as well participated.
Squarespace designer & CEO Anthony Casalena said the fresh capital ‘ll advance the company’s enhancement initiatives and help it enormity its product suite.
The move occur less than two months after the manufacturer} filed confidentiality to go public using a direct listing or hard public offering.
Squarespace, that steadily helped millions create their important websites, was founded in 03 and bootstrapped until a good solid $38. beş million Series A in 2010 that was co-led from Accel and Index Efforts.
The online website creation and as well , hosting service — including now expanded into internet by hosting online stores — then raised another $40 million round in 2014. But it is perhaps best known because of its epic 2017-era $200 million secondary circular that General Atlantic financed. That round grew up at a $1. 5 billion dollars pre-money valuation. That means its full of effectively upped its appraisal by more than five times in just over three years.
At that time, TechCrunch huge that Squarespace was a flourishing company, with revenues developing 50% in the prior every 12 months, to about $300 quantité. Execs are declining for comment on the company’s hotest funding round beyond a following on the product’s website.
New York City-based Squarespace enjoys over 1, 200 office staff spread across its main office and offices in Dublin, Ireland; Portland, Oregon; and as well as Los Angeles, California.