Automattic, the company behind WordPress, raised $160m in Series C funding.
The round valued the company at $1.16 Billion.
According to CEO Matt Mullenweg (read his post here), the round was led by Deven Parekh of Insight Ventures with participation from Chris Sacca, Endurance and True Ventures and existing secondary investors Tiger Tiger Global Management and Iconiq.
The company intends to use the funds to expand operations.
Founded in August 2005, Automattic is the web development company known for WordPress.com (a free blogging service), as well as its contributions to WordPress (open source blogging software). They also offer Jetpack for WordPress and other products like VaultPress, Akismet, among others.
It has over 150 employees.
FinSMEs
06/05/2014
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