Start-Up Wix Raises $40 Million in Series D Funding Led by Insight Venture Partners

Share Article

Wix.com is a web start-up that developed a free website builder for easy website creation. With its latest successful round of funding, the company plans to continue developing and expand its suite of market-leading products.

Free Website Builder Wix

We believe that the challenge of successfully creating an online presence has grown. Not so long ago, small business owners needed just one simple website. Now you also require a mobile site and an engaging Facebook fan page.

Wix.com announced today that it has closed a $40 million round of financing. Insight Venture Partners and DAG Ventures joined existing investors Benchmark Capital, Bessemer Venture Partners and Mangrove Capital Partners in backing the company’s cutting-edge web technology.

Wix' core philosophy was to make building a website something anyone can do, regardless of technical skill or prior knowledge.

The company's product consists primarily of its free website builder, an online platform with an intuitive drag & drop interface. Users can tweak the design of their sites with a smooth workflow, and publish under Wix.com free web hosting.

Wix operates on a freemium business model, offering the platform and web design for free, with the option to purchase features like domain ownership and eCommerce capability.

The Series D funding will go toward the launch and further development of two products - tailored solutions for mobile and social web.

The soon-to-be-released Wix Mobile is an HTML5 wizard enabling users to create their own websites designed for optimal display and performance when viewed on smartphones and mobile devices. The company also recently launched a powerful Facebook application, that allows users to create fully customized Facebook Fan pages using Wix' own easy online platform.

Wix Founder & CEO Avishai Abrahami comments, “We believe that the challenge of successfully creating an online presence has grown. Not so long ago, small business owners needed just one simple website. Now you also require a mobile site and an engaging Facebook fan page."

"We believe users shouldn’t worry about the wars between corporate giants such as Adobe, Apple and Microsoft. They should be able to get everything they need to present and maintain a successful web presence, from one place. With the backing of our investors and the trust of our users we’re confident that Wix will be this one stop-shop for creating your own, free website - and getting it published everywhere.”

Over the course of 2010, Wix doubled in size. The company added a West-coast branch to its existing Tel Aviv and New York offices. The Wix Lounge in Manhattan was unveiled in August, and is a hot-bed of activity for creative professionals, designers, entrepreneurs and marketing pros to meet, collaborate on projects and participate in various Wix-sponsored events.

About Wix

Wix was created in 2006, and released the open-beta version of its website builder in June of 2008. The company is headquartered in New York, with offices in San Francisco and Tel Aviv. Wix.com is backed by investors Insight Venture Partners, DAG Ventures, Mangrove Capital Partners, Bessemer Venture Partners and Benchmark Capital.

For more information please visit wix.com.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Emily Sokolow
Wix
972-54-778-8032
Email >
Visit website