Automattic raises $300 million funding from Salesforce Ventures
Category: #business  By Pranali Mehta  Date: 2019-09-21
  • share
  • Twitter
  • Facebook
  • LinkedIn
Automattic raises $300 million funding from Salesforce Ventures

No matter what kind of business it is, having a website helps in reaching more clients. Today, WordPress is one of the leading content management systems in the world and reportedly around 34% of websites on the internet are based on it.

Automattic, the parent company of WordPress.com, has recently made headline by securing $300 million in Series D funding round at a $3 billion post-money evaluation from Salesforce Ventures.

According to Automattic’s Founder and CEO, Matt Mullenweg, the company will use this funding to speed up its roadmap and scale up its products and services comprising WordPress.com, WooCommerce, WordPress VIP and Jetpack. Moreover, the funding will enable the company to invest time and energy in the future of Gutenberg and WordPress.

This funding round is special for Automattic as the company has been in business for around for 15 years, and still hasn’t raised a lot of money. Previously, the company secured a $160 million funding in Series C round back in 2014. Whereas last month, Automattic acquired blogging platform Tumblr.

Since its incepted in 2005, Automattic's flagship offering is WordPress.com, an open-source publishing platform, owned by the WordPress Foundation. One can the platform to show portfolio, build a company website, run an e-commerce business or even for blogging and sharing knowledge.

The company also offers numerous subscription-based services and tools which are focused on web content management and publishing such as backup and security service Vaultpress and site management tool Jetpack, WordPress VIP and many others.

Its products also consist of long-form content platform LongReads and note-taking app Simplenote. The company is operating with a completely distributed workforce and have around 950 employees across 71 countries, with no central office. The company has Tiger Global, Insight Venture Partners, and True Venture as its investors.

Source Credit - https://tech.economictimes.indiatimes.com/news/internet/wordpress-com-parent-automattic-secures-300m-funding-from-salesforce-ventures/71206937

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

Twitch can now ban users for improper behavior beyond its platform
Twitch can now ban users for improper behavior beyond its platform
By Pranali Mehta

American live video streaming service Twitch has announced to have expanded its hate & harassment policy beyond its platform in an effort to make it relatively safer. This time the rules cover activities outside the platform such as membership i...

Intel unveils its latest Ice Lake Xeon processor for data centers
Intel unveils its latest Ice Lake Xeon processor for data centers
By Pranali Mehta

At its recent virtual “How Wonderful Gets Done 2021” launch program, U.S. chipmaker Intel Corp. launched its 3rd Gen Intel Xeon Scalable processors that will be dedicated towards edge computing, networking, cloud, and high-performance com...

Gatik, Isuzu North America unite to build self-driving delivery trucks
Gatik, Isuzu North America unite to build self-driving delivery trucks
By Pranali Mehta

Gatik, a Silicon Valley-based self-driving startup, has entered a joint venture agreement with Isuzu North America Corp. to develop autonomous delivery trucks. These vehicles will be utilized by Gatik to serve its retail customers, cited sources with...