Former Hinman CEOs Company Squarespace Inc. Raises $38.5M from Index Ventures and Accel Partners
Squarespace Inc., a company offering an industry-leading Web publishing platform founded by Hinman CEOs alumnus (2005) Anthony Casalena, today announced it completed a $38.5 million minority investment from Index Ventures and Accel Partners.
This is the first outside capital that Squarespace has raised since its founding in 2003.
As part of this transaction, joining Squarespace's newly formed board will be Dominique Vidal, of Index Ventures growth team, Andrew Braccia, from Accel's investment team, and Jonathan Klein, Founder and CEO of Getty Images. Casalena will remain the company's largest shareholder.
"The addition of Index, Accel and Jonathan Klein to the Squarespace team will help us achieve further growth and cement our position as a clear leader in Web publishing," says Casalena.
Casalena founded Squarespace with the goal of redefining publishing on the Web. Today, the company's SaaS platform powers tens of thousands of websites worldwide. Businesses, bloggers, web developers and artists use Squarespace to quickly and easily create and maintain professional, high quality websites. Squarespace's product is differentiated by its intense focus on design, integration and scalability. Notable customers include Marc Ecko, Porter Novelli, Bob Woodruff, Kevin Pollak, and Don Imus.
"There are a lot of tools on the market that allow people to set up simple blogs for free. At Squarespace, we offer something different--a high quality, professional, reliable platform that is designed from the ground up by us to work in a very streamlined way," says Casalena.
The size of the round will enable Squarespace's team to significantly expand operations as they seek to solve the problem of content management at its core, and allow its new partners to contribute to and participate in Squarespace's continued success.
"Squarespace has been a profitable business since its first year of operation. This investment will not change that, but it will allow us to be much more aggressive in our quest to both create an incredible product and bring that product to market," says Casalena.
Squarespace packages are sold on www.squarespace.com and start at $8 per month.
July 14, 2010