Webflow raised $140M in a Series B round, meaning the no-code platform is now valued at $2.1B. The round was led by returning investors Accel and Silversmith, with participation from Alphabet venture capital group CapitalG and investor Laela Sturdy, who joined Webflow's board.
- In its Aug. 2019 Series A round, Webflow raised $72M; back then, it was reportedly valued at no more than $400M. Webflow was founded in 2012 and had a rough start, nearly going bankrupt.
- Webflow CEO Vlad Magdalin called the recent round “opportunistic” for the platform as the company ended 2020 cash-flow positive, and thus was not in need of cash when the deal happened. Webflow board member Arun Mathew also noted the startup doubled its customer base in 2020.
- The new round of "courage capital," Magdalin says, will make it possible for Webflow to invest in things that may not have short-term revenue impacts, adding that the funds may go towards enterprise products, as well as its support team, platform, and recruitment efforts.
- Currently, enterprise customers only make up 5% of Webflow's businesses, but the CEO notes they only just started targeting the enterprise, and predicts it will grow its larger-account business by a factor of 10 this year.