In a recent funding round, Squarespace raised $300 million, which now values the website-creating company at $10 billion. [300M 10B IPOAnn AzevedoTechCrunch]
Key Takes:
- Squarespace raised $300 million in funding, valuing the company at $10 billion
- The funding was participated by new and existing backers, including Spruce House, Tiger Global, and Fidelity Management & Research Company
- The capital will be used to expand Squarespace’s products and services suite and help scale the business
- Squarespace is headquartered in New York and has over 1200 employees
The funding was participated by some new backers including Spruce House, Tiger Global, Capital Partners, Dragoneer, Fidelity Management & Research Company, etc. Two of the existing backers, General Atlantic and Accel, also participated in the funding round.
Now that the company is worth a lot and has secured additional funding, the CEO and founder of Squarespace Anthony Casalena says the capital will be used to expand the company’s products and services suite as well as help scale the business.
Two months prior to this funding, Squarespace filed for the Initial Public Offering (IPO) as they filed confidentiality to go public.
Founded in 2003, Squarespace is helping people online create, design, and customize their own websites without having to hire a web developer. In 2010, Squarespace secured $38.5 million in a Series A round c0-led by Index Ventures and Accel.
Four years after the series A round, Squarespace raised another $40 million in 2014. The year 2017 was also great, maybe the best year. The company raised a $200 million secondary round at a $1.7 billion post-money valuation, financed by General Atlantic. So, the company has raised its valuation to more than 5 times what it was worth in 2017. (in only 3 years)
In the year 2019, TechCrunch reported that the company has increased its revenue by up to 50%, about $300 million. [300M 10B IPOAnn AzevedoTechCrunch]
Squarespace execs Quiet after the funding
Unlike other tech companies where company officials are all over the media talking about how successful the company is, Squarespace execs are nowhere to be found, the only thing they said is this post on the Squarespace website.
“We’re thrilled to welcome our new investors as we continue scaling our product suite in service of our customers around the world,” said Anthony Casalena, Squarespace Founder & CEO.
According to a 2021 evaluation, the New York-based Squarespace has over 1200 employees. Headquartered in New York, New York, the company has expanded and has offices in Dublin, Portland, and LA. The stock NYSE: SQSP is being traded at $23.54 at the time of writing. (Feb 2023)
Source: Google
About Squarespace
Squarespace is an online tool that helps people make their own websites and sell things online. It includes lots of different features that let people manage their projects and businesses, like tools for scheduling, marketing, and social media.
Squarespace is available to anyone, regardless of skill level, and is used by people all over the world. It helps people create a professional and consistent look for their brand across all digital platforms, so they can stand out online. [300M 10B IPOAnn AzevedoTechCrunch]
