Squarespace raises a whopping $300M, valuing the company at over $10 billion, as reported by Ann Azevedo on TechCrunch in March 2021. [squarespace 300m ipoann azevedotechcrunch]
Key Takes:
- Squarespace raised $300 million in funding in March 2021, valuing the company at $10 billion
- Existing backers General Atlantic and Accel participated, along with new backers including Tiger Global, Spruce House, D1 Capital Partners, Dragoneer, etc.
- Squarespace filed for IPO two months before the funding round
- Squarespace was founded in 2003 and has raised over $500 million in funding in four rounds
- Squarespace achieved unicorn status in 2017 with a $1.7 billion valuation
With the help of new backers, the online website designing company has raised a staggering $300 million in funding. The latest funding round values Squarespace at $10 billion.
The CEO and founder of Squarespace, Anthony Casalena, revealed that the fresh funding will b used to enhance the product line of the company as well as scale the company’s product suite to generate more business. He also said the new funding will help with the initiatives that the company has been taking lately with respect to growth.
In the $300 million funding round, existing backers General Atlantic and Accel were present. Along with the existing backers, it seems to be the case that Squarespace’s recent success has attracted some new VC firms because there were new backers as well including Tiger Global, Spruce House, D1 Capital Partners, Dragoneer, and T. Rowe Price Associates Inc.
“We’re thrilled to welcome our new investors as we continue scaling our product suite in service of our customers around the world,” stated Squarespace Founder & CEO Anthony Casalena in the funding announcement post. [squarespace 300m ipoann azevedotechcrunch]
Two months before the funding round, Squarespace filed to go for Initial Public Offering (IPO). Now that Squarespace is a $10 billion company, the website-making platform is nowhere close to stopping its growth and product suite. Til now, Squarespace has allowed millions of people online to make their own websites without having to hire an expensive web developer.
About Squarespace (and Financial History)
As the internet boomed, small businesses wanted to make themselves public on the internet but they needed a website for that. Squarespace solved this problem by making a platform where every user who can use the internet, can make their own website in a matter of minutes.
Founded in 2003 by Anthony Casalena, Squarespace is now one of the most-used platforms on the internet. In 2023, the company employs more than 1000 people and has raised north of half a billion dollars in four funding rounds.
The first-ever funding round was in 2010. It was co-led by Index Ventures and Accel in which Squarespace bagged $200 million.
In 2014, Squarespace raised $40 million in a round led by General Atlantic. Subsequently, in 2017, General Atlantic led another round for Squarespace and the company was able to secure a total of $200 million. At the end of this round, Squarespace achieved unicorn status and was valued at $1.7 billion. [squarespace 300m ipoann azevedotechcrunch]
The latest funding round was in 2021, when the website-making platform secured its biggest-ever funding, $300 million. The post-money valuation is $10 billion, more than 5 times what it was worth only four years ago.
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