Susquehanna Growth Equity (SGE), an investment vehicle for technology and trading firm Susquehanna International Group, provided $25m in funding for US-based web design technology developer Duda on Wednesday.
Formerly known as DudaMobile, Duda has built a web design platform tailored for use by small businesses, in addition to a tool that allows enterprise software producers to integrate a website-building option into their existing products.
The capital will support the expansion of the company’s Israel-based research and development efforts and the strengthening of its sales and marketing capabilities.
SGE investor Noa Wolfson joined the board of directors at Duda in connection with the round. He said: “While the Susquehanna team and I were initially impressed with the product, it was not until we started speaking with customers that we realised just how powerful the platform is for the thousands of web professionals it serves.
“Time and again, customers told us that Duda catalysed the growth of their agencies. The ability to have all site building and client management needs on a centralised and more importantly secure platform saves web professionals time and money.”
The company said the round doubled its funding to $50m since it was founded in 2009. It closed a $16.3m series B round in 2013 that was backed by Pitango Venture Capital, Zeev Ventures, Primera Capital, Figtree Partners and angel investors including Dan Rose, Don Katz and Zohar Gilon.
