Total amount raised
$278.5 Million
Latest funding date
12/1/2017
Location
Squarespace has successfully raised funding over five rounds, with the latest being a Post-IPO Secondary round. The platform is supported by notable investors, including T. Rowe Price and Fidelity.
Keep reading to explore the intricacies of Squarespace's fundraising journey and the investors backing this innovative platform.
What Is Squarespace?
Squarespace, founded in 2003, is a prominent platform that provides tools for building and hosting websites. Headquartered in New York, New York, the company serves millions of entrepreneurs worldwide, offering services such as website templates, AI website builder, domain registration, e-commerce solutions, marketing tools, and business management tools.
With an employee count ranging from 1001 to 5000, Squarespace is involved in various industries, including Developer Tools, E-Commerce Platforms, Publishing, Software, and Web Design. The company was founded by Anthony Casalena and has been acquired by Permira, operating as a public company.
How Much Funding Has Squarespace Raised?
- Series A
- Amount Raised: USD 38,500,000
- Date: July 2010
- Lead Investors: Accel, Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To transition from being bootstrapped and support initial growth.
- Series B
- Amount Raised: USD 40,000,000
- Date: April 2014
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely to support further expansion and development of the platform.
- Secondary Market
- Amount Raised: USD 200,000,000
- Date: December 2017
- Lead Investors: General Atlantic
- Valuation at Round: USD 1,700,000,000
- Motivation Behind the Round: To provide liquidity to existing shareholders and support continued growth.
- Series Unknown
- Amount Raised: USD 300,000,000
- Date: March 2021
- Lead Investors: Dragoneer, Tiger Global, D1 Capital Partners, Fidelity Management & Research Company, T. Rowe Price Associates, Spruce House, Accel, General Atlantic
- Valuation at Round: USD 10,000,000,000
- Motivation Behind the Round: To advance growth initiatives and scale the product suite, especially in light of the upcoming public listing.
- Post-IPO Secondary
- Date: November 2023
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not publicly disclosed
Total Amount Raised: USD 578,500,000. Current Valuation: USD 10,000,000,000.
Key Investors
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm that offers mutual funds, subadvisory services, and separate account management. They are known for their long-term investment strategies and comprehensive financial planning services.
- Investment Focus Areas: Mutual funds, retirement plans, investment management.
- Notable Investments: Squarespace, Tesla, Amazon.
- Fidelity
- Details: Fidelity is a financial services corporation that provides investment management, retirement planning, portfolio guidance, and brokerage services. They manage a wide range of mutual funds and offer various financial products.
- Investment Focus Areas: Mutual funds, retirement services, investment management.
- Notable Investments: Squarespace, Uber, Airbnb.
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. They have a strong track record of backing successful startups and helping them scale.
- Investment Focus Areas: Early and growth-stage technology companies.
- Notable Investments: Facebook, Dropbox, Slack.
- Index Ventures
- Details: Index Ventures is a venture capital firm that invests in technology and life sciences companies. They focus on supporting innovative startups and helping them grow into market leaders.
- Investment Focus Areas: Technology, life sciences.
- Notable Investments: Dropbox, Etsy, Robinhood.
- General Atlantic
- Details: General Atlantic is a global growth equity firm that provides capital and strategic support for growth companies. They focus on partnering with companies that have strong growth potential and helping them achieve their goals.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: Airbnb, Alibaba, Uber.
What's Next for Squarespace?
Squarespace stands at the cusp of significant growth opportunities, driven by the increasing demand for online presence and e-commerce solutions. With a recent $300 million funding round valuing the company at $10 billion, Squarespace is well-positioned to expand its product suite and enhance its global market reach. The company aims to capitalize on the digital transformation trend, offering tools that enable businesses to build impactful online presences.
Future fundraising opportunities appear promising, especially with the potential for an initial public offering (IPO) on the horizon. This move could provide additional capital to support further growth initiatives and strategic acquisitions, enhancing Squarespace's competitive edge. The company's strong financial backing and high valuation suggest continued investor interest and potential for future funding rounds.
However, Squarespace faces challenges such as intense competition from other website builders like Wix and GoDaddy, and the need to keep up with rapidly evolving technology and consumer preferences. Managing growth while maintaining service quality and navigating the complexities of going public will be crucial for the company's sustained success.
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