Automattic, the company behind WordPress.com, confirmed Monday that it has raised $160 million at a more than $1 billion valuation.
The large Series C funding round was led by Insight Ventures with participation from investors Chris Sacca, Tiger Global Management and othersRe/code, which was first to break the funding news, reports that the round values Automattic at $1.16 billion.
Matt Mullenweg, who took over as CEO of Automattic at the beginning of this year, noted in a blog post that he initially didn't think the company needed to raise additional funds, but changed his opinion after becoming CEO. Read more...
More about Wordpress, Funding, Automattic, Startups, and BusinessWordPress.com Creator Automattic Raises $160 Million
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