It’s with great pleasure that I can formally announce the closing of Squarespace’s first major outside investment in 7 years. We have completed a $38.5M minority investment from Index Ventures and Accel Partners, who are joining our team, as we continue to move forward in our mission of redefining publishing on the web.
Most of the details of this the transaction can be found in our press release, but I wanted to take a moment to answer some common questions and talk about what this means for the future of the company.
Why did Squarespace raise money?
I believe it is critically important for companies to always reinvent themselves or face extinction. Squarespace has taken a massive shift once before -- 3 years ago when Dane and Davin joined the team to help build the company we have together today. That change was ultimately a great success and has allowed Squarespace to mature.
Today, we are making another big change and growing that team again, adding expertise and resources from two spectacular firms as well as insight from Jonathan Klein, the founder and CEO of Getty Images -- all of whom are joining Squarespace’s board to help guide the company.
This investment represents the maturing of our business into its next stage of success.
What will you do with the investment?
This investment -- a growth stage investment on top of an already successful business -- will allow us to more rapidly produce the sort of products we want to make, and focus on getting those products to market. This investment will support our product, team, and geographical expansion initiatives.
Who is in charge of Squarespace?
This is a minority investment -- the same team that has always managed Squarespace remains in charge. Squarespace will remain the profitable business it has always been, it will keep its insistence on great design and reliable functional products. Our investors love the business we’ve built, and join us in continuing to aim even higher.
What will change for Squarespace customers?
Squarespace customers will be the real beneficiaries of this transaction. We want to grow into the company that can deliver the next stage of our vision -- and I wanted to ensure nothing stood in the way of that. We are now cleared of all obstacles that stand in the way of us building our next generation platform -- which will emerge over the coming months.
Thank you all for being supporters of Squarespace. I feel incredibly lucky to be a part of this unique company with such a rich, vibrant community. We remain committed to the mission of delivering amazing products and will see to it that Squarespace continues to do just that.