Startup Webflow Inc., which provides a popular no-code website development platform of the same name, today announcement that it closed a $120 million funding round at a $4 billion valuation.
Y Combinator’s Continuity Fund led the Series C round. The historic startup accelerator was joined by Alphabet Inc.’s CapitalG investment arm, Accel, Silversmith and Draper Associates.
“By dramatically simplifying website building, Webflow has enabled hundreds of thousands of individuals and businesses to create complex, beautifully designed websites,” said Ali Rowghani, CEO of YC Continuity. “Rarely do you see a company with as much scale and success as Webflow retain so much potential.”
San Francisco-based Webflow provides a cloud-based platform that lets users build websites without writing 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 individual interface elements, such as changing the font of a text snippet or updating the order of buttons in a navigation bar.
The startup has integrated productivity features into its platform to speed up development projects. One such feature is a mechanism that allows users to apply an update to an interface element once and then automatically apply the update to every webpage where the interface element is located. used. For tech-savvy customers, Webflow offers the ability to directly edit the CSS code that powers a webpage.
The startup’s recently 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, has surpassed 150,000 customers. The startup detailed today that it currently generates around $100 million in annualized recurring revenue.
Webflow plans to continue its commercial momentum by creating more products. The start is would have seeking to expand its scope beyond websites to low-code software development. Additionally, Webflow will consider using part of the round to make acquisitions.
The enterprise market could offer significant growth opportunities for Webflow. Forbes reported today that the startup’s corporate operations grew revenue from $1 million to $8 million in the past year.
Another focus of Webflow’s growth efforts over the past few 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 apps.