Blog Post

Wix Gets $3.5 Million For Website Creation

Wix, a platform that helps individuals build affordable websites, has raised $3.5 million in its second round led by Skype-backer Mangrove Capital Partners. Bessemer Venture Partners, which led a $3.5 million first round, also participated. So far, the New York-based company has only had a soft product launch and generates minimal revenues, but plans to launch its product officially this week. Co-founder Allon Boch told The Deal that the company plans to use the capital conservatively and emphasized Wix needs to prove it can function as a business before raising more capital. He hopes to raise a third round of $5 million within the next year and a half.