Total amount raised
$378.5 Million
Latest funding date
3/1/2021
Location
Squarespace has successfully raised funding over five rounds, with the latest being a Series Unknown round. The platform is supported by notable investors, including T. Rowe Price and Fidelity.
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 is now privately held, after funds advised by Permira completed its acquisition in October 2024.
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 378,500,000. Current Valuation: USD 10,000,000,000 (March 2021 round). The December 2017 USD 200 million secondary purchase and the November 2023 post-IPO secondary are not company raises and are left out.
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. The company aims to capitalize on the digital transformation trend, offering tools that enable businesses to build impactful online presences.
Squarespace's Class A shares traded on the NYSE until funds advised by Permira completed its acquisition in October 2024, at USD 46.50 per share in cash. The shares were then withdrawn from NYSE listing, and Squarespace became a wholly owned subsidiary of the Permira-formed parent.
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 will be crucial for the company's sustained success.
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