WP Engine, a US-based developer of digital experience software for the WordPress online publishing platform, received $250m from investment firm Silver Lake yesterday, six years after raising cash from WordPress operator Automattic.
Founded in 2010, WP Engine provides a software platform, the Digital Experience Platform, that combines infrastructure, security, analytics and support to help businesses build their own websites or apps using WordPress.
The funding was disclosed alongside the announcement that WP Engine, which serves roughly 75,000 customers, has achieved more than $100m in recurring revenue. It came three months after the company opened an office in Brisbane, Australia to support its growth in the region.
WP Engine has now raised approximately $291m altogether, having last secured funding in a $23m round led by North Bridge Growth Equity in 2015 that valued it at more than $120m, according to DowJones VentureWire.
Automattic invested in the company as part of a $1.2m seed round in 2011 that was led by venture capital firm Silverton Partners and backed by angel investors Eric Ries, Loic Le Meur, Dharmesh Shah, Jeremy Benken, Bill Boebel and Rob Walling.
North Bridge Growth Equity, part of VC firm North Bridge Venture Partners, also invested $15m in WP Engine in 2014 to take its overall funding to $18.2m.
Heather J. Brunner, WP Engine’s chairwoman and CEO, said: “We are partnering with Silver Lake because of their incredible track record as technology investors, their understanding of digital platform businesses like ours and because of the alignment in core values we share.
“This partnership will help us further invest in our Digital Experience Platform and bring the power of our platform to WordPress users all around the globe.”