Squarespace Thinks Big With $38.5 Million in Funding

2 minute read
Geoff Spick avatar

Squarespace (news, site) offers a slick, well-drilled Web publishing and blogging experience. What can it achieve with a bundle of investment in the bank?

Note: See our Squarespace CMS Review for product details.

Investing In Space

Accel Partners has had a busy week, not only has it poured funds into Altassian, but is also giving Web Publishing maverick Squarespace a boost with a serious minority investment. The company has been steadily making rising profits since year one, but can now plan for major expansion with its first round of outside investment.

CEO Anthony Casalena told CMSwire,

The proceeds will fuel marketing, team expansion, geographical expansion, and development.We've been a growing company for some time now and this investment will give us the opportunity to really explore our vision with no constraints. It's a very exciting time for us."

Big Business As Usual

Squarespace competes against the likes of WordPress in the hosted site/blogging space and offers a slick, design-friendly package. It packs in social widgets, mobile support (with an iPhone app that can handle multiple accounts, online and offline editing and traffic monitoring) along with some stunning high-end templates and image galleries (read our review here: CMS Review: Squarespace - SaaS Web Publishing, Blogging Platform).

Learning Opportunities

Not surprising then that Squarespace has doubled its customer base over the last year. With a free 14-day trial and starting at US$ 8 a month for 1Gb of storage up to business-tailored packages with more features, Squarespace is one of the places to go if you want something above the free offerings like Blogger.com.

A Stylish Future?

The company blog states that

Squarespace customers will be the real beneficiaries of this transaction.We are now cleared of all obstacles that stand in the way of us building our next generation platform -- which will emerge over the coming months."

So existing customers should find their service getting even better while the buzz should attract further users. 

With WordPress, Moveable Type and the other hosted site/blog services all competing hard for clients, and many users looking for something more than a "plain" blog, is this now the time when design and quality will stand out above the crowd? Certainly it will be interesting to see if there are any big changes in user numbers as we approach 2011.