Squarespace Web-Publishing Platform Secures $38.5 Million in VC Funding
Squarespace, one of the up and coming web publishing platforms, announced this week that it closed a $38.5M minority growth investment led by Index Ventures and Accel Partners. This is the first outside capital that Squarespace has raised since its founding in 2003.
As part of this transaction, joining Squarespace’s newly formed board will be Dominique Vidal, of Index Ventures’ growth team, Andrew Braccia, from Accel’s investment team, and Jonathan Klein, Founder and CEO of Getty Images. Founder Anthony Casalena will remain the company’s largest shareholder.
In a release, the company wrote:
Squarespace was founded by Anthony Casalena with the goal of redefining publishing on the Web. Today, Squarespace’s SaaS platform powers tens of thousands of websites worldwide. Businesses, bloggers, web developers and artists use Squarespace to quickly and easily create and maintain professional, high quality websites. Squarespace’s product is differentiated by its intense focus on design, integration and scalability. Notable customers include Marc Ecko, Porter Novelli, Bob Woodruff, Kevin Pollak, and Don Imus.
“Squarespace has created a powerful product used by web developers, bloggers, and consumers around the world to build beautiful, functional and flexible websites,” Dom Vidal, partner, Index Ventures said in a statement. “We believe in the team, the technology, and the market potential, and are excited to be a part of such a fast growing business.”
The size of the round will enable Squarespace to significantly expand operations as they seek to solve the problem of content management at its core, and allow its new partners to contribute to and participate in Squarespace’s continued success.
“Squarespace has been a profitable business since its first year of operation. This investment will not change that, but it will allow us to be much more aggressive in our quest to both create an incredible product and bring that product to market,” Anthony Casalena, Squarespace’s founder in a statement.
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