Squarespace is an online website creation and hosting service that has expanded into e-commerce by hosting online stores. Founded in 2003, the company has helped millions create websites and employs over 1,200 people across New York City (HQ), Dublin, Portland, and Los Angeles. CEO Anthony Casalena said the fresh capital will advance the company’s growth initiatives and help scale its product suite. The company was bootstrapped for years before raising a $38.5M Series A in 2010 and has completed subsequent financings. TechCrunch previously reported Squarespace was profitable, with revenues increasing roughly 50% in the prior year to about $300 million. Executives declined to comment further on the latest funding beyond a post on the company’s website. Squarespace is a 14-year-old website platform that enables individuals and small businesses to create sites without coding. The company focuses on simplifying site creation and is working to improve its commerce features to help customers sell products. CEO Anthony Casalena said enabling sales is the most requested feature on the platform. Squarespace is profitable and reported revenue grew about 50% year-over-year to roughly $300 million. The company aims to use new funding to provide liquidity to early employees and investors rather than primarily to fund operations. Squarespace has previously raised capital from General Atlantic, Index Ventures, Accel and others. Squarespace offers tools for individuals and small businesses to build websites and online stores. The platform powers millions of websites created by hundreds of thousands of customers. The company employs 285 people. Squarespace says it will improve the overall Squarespace experience and make its products available to more people around the world. Management has signaled a commitment to develop products that go beyond websites and online stores. The company recently raised capital to support that expansion. Squarespace is a web publishing platform that helps individuals and small businesses build and maintain well-designed websites, with pricing tiers from $8 to $50 per month. Its underlying server code was written in-house and the platform lets users edit content, insert photo galleries, and manage widgets for social platforms. Founded in 2003 by Anthony Casalena, the company reached $1 million in revenues by 2007 and has been profitable since its first year of operation. Casalena says the service has "tens of thousands" of paying customers and, according to Accel, users and revenues have doubled every year in recent years. Squarespace operates with low overhead—growing to about 30 employees at its New York headquarters—and plans major product improvements, including a version 6 release planned in roughly nine months. The next version aims to provide a richer, cleaner, more fluid design experience with a more free-form, flexible layout system.

Total raised

$579M

Funding rounds

4

Latest round

Equity

Latest activity

Mar 2021