Squarespace announced receiving USD40 million Series B funding, reported TechCrunch. The online stores offered small and individual enterprises tools for establishing their stores online and websites.
The funding was led by growth equity firm General Atlantic which was also confirmed by a representative from the company. Meanwhile, Anton Levy, GA’s managing director, would join the board of Squarespace, said a report from TechCrunch.
Founder and CEO Anthony Casalena said regarding the investment, “This partnership with General Atlantic signals the scaling of our ambition – we will improve the overall Squarespace experience, make it available to more people around the world, and demonstrate a commitment to products that go beyond websites and online stores.”
Squarespace was established in 2003 and got a Series A funding round valued USD38.5 million in 2010. According to the company, it has already served “hundreds of thousands of customers” in establishing “millions” of websites with its 285 employees, reported TechCrunch.
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