Total amount raised
$58.5 Millions
Latest funding date
9/1/2022
Location
Wix has successfully raised funding from notable investors, including Starboard Value and Mangrove Capital Partners. The platform offers a comprehensive suite of tools for website creation and management, catering to millions of users worldwide.
Keep reading to explore the intricacies of Wix's fundraising journey and the investors backing this innovative platform.
What Is Wix?
Wix, founded in 2006 in Tel Aviv, Israel, by Avishai Abrahami, Giora Kaplan, and Nadav Abrahami, offers a platform for developing cloud data services for millions of users worldwide. The company specializes in web development and management, providing tools for website creation, domain hosting, and marketing applications.
With a workforce of 5001-10000 employees, Wix has grown to become a significant player in the web development industry. The platform's core products include Wix Editor, Wix ADI, and Wix Code, catering to various user needs from beginners to advanced developers.
Wix's comprehensive suite of tools and services, including eCommerce solutions, scheduling, and portfolio creation, makes it a versatile choice for individuals and businesses looking to establish a robust online presence.
How Much Funding Has Wix Raised?
- Series A
- Amount Raised: $5M
- Date: December 2007
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and expand the team.
- Series B
- Amount Raised: $3.5M
- Date: October 2008
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase user acquisition.
- Series C
- Amount Raised: $10M
- Date: March 2010
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve technology infrastructure.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and market entry.
- Series D
- Amount Raised: $40M
- Date: March 2011
- Lead Investors: DAG Ventures, Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch new social and mobile products.
- Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: September 2022
- Lead Investors: Starboard Value
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand product offerings and enhance market presence.
Total Amount Raised: $58.5M
Current Valuation: Not publicly disclosed
Key Investors
- Starboard Value
- Details: Starboard Value is a hedge fund known for its activist investing strategies. The firm often takes significant stakes in public companies to influence management and strategic direction.
- Investment Focus Areas: Activist investing, public companies, corporate governance.
- Notable Investments: Yahoo, Darden Restaurants, Papa John's.
- Mangrove Capital Partners
- Details: Mangrove Capital Partners is a venture capital firm that focuses on early-stage investments. The firm has a strong track record of backing successful technology startups.
- Investment Focus Areas: Early-stage technology companies, internet, software.
- Notable Investments: Skype, Wix, K Health.
- Insight Venture Partners
- Details: Insight Venture Partners is a global private equity and venture capital firm. It specializes in growth-stage investments in technology and software companies.
- Investment Focus Areas: Technology, software, growth-stage companies.
- Notable Investments: Twitter, Shopify, Alibaba.
- DAG Ventures
- Details: DAG Ventures is a venture capital firm that invests in early to mid-stage technology companies. The firm supports its portfolio companies with strategic guidance and resources.
- Investment Focus Areas: Early to mid-stage technology companies, internet, software.
- Notable Investments: Yelp, Glassdoor, Nextdoor.
- Benchmark Capital
- Details: Benchmark Capital is a venture capital firm that provides seed money to startups and early-stage companies. The firm is known for its successful investments in the technology sector.
- Investment Focus Areas: Startups, early-stage technology companies, internet.
- Notable Investments: Uber, eBay, Twitter.
What's Next for Wix?
Wix is poised to capitalize on the growing demand for mobile-friendly websites and social media integration. The company plans to launch a mobile site creator using HTML5 and a Facebook application to integrate Wix websites with fan pages. These initiatives could significantly expand Wix's user base and enhance user engagement.
Future fundraising opportunities may arise as Wix continues to innovate and expand its product offerings. Additional funding could support international expansion or the acquisition of complementary technologies. However, the company faces challenges such as transitioning from Flash to HTML5 and competing with other website creation platforms. Navigating these hurdles will be crucial for Wix's sustained growth.
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