US-based website design and marketing service Squarespace raised $300m in funding yesterday from investors including financial services and investment group Fidelity Management & Research Company, valuing it at $10bn.
Venture capital firm Accel, growth equity firm General Atlantic and funds and accounts managed by T Rowe Price Associates also took part in the round, as did investment firms D1 Capital Partners, Dragoneer, Spruce House and Tiger Global Management.
Squarespace provides website building, hosting and data analytics services and an online marketing tool dubbed Unfold to help users acquire a web domain, create an e-commerce platform and manage their social media presence.
The company has more than 1,200 employees across offices in the US cities of New York, Portland and Los Angeles, as well as in Dublin, Ireland.
The money will be used to improve Squarespace’s products and services, according to founder and chief executive Anthony Casalena who said: “We are thrilled to welcome our new investors as we continue scaling our product suite in service of our customers around the world.”
General Atlantic had provided $200m in funding for Squarespace in 2017, valuing it at $1.7bn, having also led a $40m series B round for the company three years before.
Squarespace secured $38.5m in series A funding in 2010 from Accel and Index Ventures, seven years after a $30,000 loan from Casalena’s father.
