Squarespace Raises $300M, Valued At $10B Ahead Of IPO

Squarespace logo

After confidentially filing for an initial public offering in January and paving its path onto the public markets in the process, it’s apparent that Squarespace, the popular web building and hosting service, isn’t yet done with raising money on the private markets. It’s just announced the close of a $300 million funding round valuing it at $10 billion.

The new $300 million round is likely Squarespace’s last before it debuts on the public markets, mimicking that of several other tech companies that have closed big funding rounds just on the cusp of their initial public offerings, such as UiPath and Instacart.

  • Squarespace’s $300 million round came from a mix of new and existing investors including General Atlantic, Accel, D1 Capital Partners, Tiger Global, Dragoneer, Fidelity, and T. Rowe Price. With it, Squarespace has now raised a total of nearly $600 million of private venture funding.
  • The $10 billion valuation for Squarespace with this round is noticeably high and nearly six times the company’s valuation of $1.7 billion from its last funding round before now in 2017. The new round affixes a strong valuation for the company as it’s set to hit the public markets soon.
  • With its new funds, Squarespace says it’ll support its growth initiatives. “We’re thrilled to welcome our new investors as we continue scaling our product suite in service of our customers around the world,” the company’s Founder & CEO Anthony Casalena said in a statement. 
  • Squarespace is one of the biggest platforms for website building and hosting of its kind. It’s grown from a small startup launched 17 years ago into a big company with over 1,200 employees spread across New York City, Portland, Oregon, and Los Angeles in the US plus Dublin in Ireland.

Leave a Reply

Your email address will not be published.