Friday Fundings: Squarespace, Yotpo, and SecurityScorecard
Squarespace Hits $10 Billion Valuation
Website building service Squarespace is now valued at $10 billion after a recent $300 million funding round. Participating investors included Dragoneer, Tiger Global, D1 Capital Partners, and Fidelity Management & Research Company. Squarespace has seen surging demand for its services as businesses have shifted their operations online during the pandemic. Since its founding in 2003, it has expanded beyond simple website templates to offer ecommerce support and other features for its clients.
This funding was announced less than two months after Squarespace confidentially filed to go public through either a direct listing or an IPO. The company is expected to make its public debut sometime this year.
Yotpo Raises Fresh Funds for Ecommerce Marketing
Ecommerce marketing company Yotpo has raised $230 million in a Series F round led by Bessemer Venture Partners and Tiger Global. Yotpo is now valued at $1.4 billion.
Yotpo gives brands a one-stop-shop for all their ecommerce marketing needs. It serves small clients as well as large brands like Patagonia and Steve Madden (SHOO). As ecommerce has boomed, so has demand for Yotpo’s services. Revenue from its SMS marketing product climbed by 170% last year, and revenue from its loyalty and referrals program nearly doubled during the same time frame.
SecurityScorecard Raises $180 Million in Series E Round
SecurityScorecard has raised $180 million in a Series E round with participation from new investors including Silver Lake Waterman and T. Rowe Price, and existing investors including Evolution Equity Partners and Accomplice. This could be the company’s last fundraising round before it goes public, though it has not shared specific information about its plans to make a public debut.
SecurityScorecard helps companies evaluate the security risks of their vendors. It gives vendors a security letter grade based on a variety of factors. So far, SecurityScorecard has rated over 2 million companies around the world.
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