Startup Webflow Inc., which provides a popular no-code website development platform of the same name, today announced that it has closed a $ 120 million funding round at a $ 4 billion valuation.
Y Combinator’s Continuity fund led the Series C round. The storied startup accelerator was joined by Alphabet Inc.’s CapitalG investment arm, Accel, Silversmith and Draper Associates.
“By dramatically simplifying the creation of websites, Webflow has enabled hundreds of thousands of individuals and businesses to build complex, beautifully designed websites,” said YC Continuity Managing Director Ali Rowghani. “Rarely does one see a company with as much scale and success as Webflow retain as much potential.”
San Francisco-based Webflow provides a cloud platform that enables users to create websites without writing any code. The platform makes it possible to assemble a website by dragging and dropping interface elements onto a virtual canvas. Webflow also allows users to customize the individual interface elements, for example by changing the font of a text snippet or updating the order of the buttons in a navigation bar.
The startup has built productivity features into its platform to speed up development projects. One of those features is a mechanism that enables users to apply an update to an interface element once, then have the update automatically applied to every web page where the interface element is used. For tech-savvy customers, Webflow offers the option to directly edit the CSS code powering a web page.
The startup’s newly announced funding round follows a year in which its users created more than 450,000 new websites. It says Webflow Enterprise, a version of its platform designed for organizations, surpassed 150,000 customers. The detailed startup today currently generates about $ 100 million in annualized recurring revenue.
Webflow plans to continue its sales momentum by building more products. The startup is reportedly seeking to expand its focus beyond websites to low-code software development. Additionally, Webflow will consider using a portion of the round to make acquisitions.
The enterprise market could hold significant growth opportunities for Webflow. Forbes reported today that the startup’s enterprise business grew revenue from $ 1 million to $ 8 million over the past year.
Another focus of Webflow’s growth efforts in recent years has been the e-commerce segment. As part of its website development platform, the startup offers multiple features that simplify the task of creating an online store. The platform provides tools for designing product catalogs and integrates with popular logistics applications.