A. CasalenaIndex Ventures and Accel Partners Invest in Squarespace
[Link: Funding Announcement Press Release]
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.
Reader Comments (25)
Congratulations on the partnership! You guys totally deserve it. I've been a dedicated Squarespace user for two years now and I always recommend it to friends and clients. I look forward to what comes out of this!
Make that an investment. ;) I was thrown off by the title. Again, congrats!
Hi-5 Squarespace! So happy for you, and so glad to be part of the family.
It's only because of Squarespace that I have food on the table.
Here's to great times ahead!
Alan Houser
Squareflair focused on Squarespace websites
Can't wait for V6
Congratulations guys - glad to have been a Squarespace user for the last 5 years across various projects. Really looking forward to seeing how the investment will take you and the product to the next level!
Congratulations! Always liked and admired your company for the awesome product you have built. Been a source of inspiration for all the applications I develop.
Good luck.
Congrats you guys! I'm excited to see what's coming up.
Congrats! That is awesome. Our inside developer just junked our whole site and is getting ready to kick off development on our new site with SquareSpace sometime next week. Nice work.
That's wonderful news! Congratulations! Looking forward to seeing where this takes you and growing along with you!
Congrats on the partnership. I hope it works well for all associates and brings benefits to both sides!
A huge congrats to everyone at Squarespace from the guys two floors above. :)
Congrats to you all. I can't wait to see what sensational work becomes possible now. Enjoy the wild ride.
As a user and big fan of Squarespace, CONGRATULATIONS! I know time-to-market and quality can be inversely related. Over the last 8 months of being a customer, it's been really interesting to see fans that are both crazy about the product and yet frustrated because they want MORE!
I just know the new cash will help roll out the awesomeness at a faster rate. So excited!
Great, does this mean we can get the higher end packages at a more reasonable price? i.e. multiple headers for the lower price would be good!
Congrats! Am so thrilled for you and all that you have built - and will continue to build.
Onward and upward and so well deserved!!!!
This is so great! Congratulations!
A natural step guys ... congratulations. When you decide to go public give us a shout ... I would buy SQP stock any day ;).
I am looking forward to the new platform as well, but tell you the truth; having been a customer since 2005 I am convinced that however web publishing will look in the future it will converge to the SQP "standard" ...
good luck
Claus
Anthony Casalena: Congratulations! I will send Dane Atkinson an email so we could set up a podcast interview on my show on Blog Talk Radio.
All the Best,
Martin Lindeskog
Hi Anthony. Congratulations on your raise. Couldn't be happier for you. Must have been that Entrepreneurship class! :) As a happy customer, I look forward to future improvements.
Congratulations! Very excited for you! Can't wait to see how Squarespace continues to grow and evolve.
This is great news. Congrats!
Congratulations to you! I am happy to see what come ups
Great, does this mean we can get the higher end packages at a more reasonable price? i.e. multiple headers for the lower price would be good!Thanks for sharing this information with us.
really nice sharing thanks ...!!
Congratulations on your raise. Couldn't be happier for you. Must have been that Entrepreneurship class! :) As a happy customer, I look forward to future improvements.
hope for much more development.....
sud
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