Netlify Banks $53M C Round

March 5, 2020

Netlify raised $53 million in Series C funding to accelerate the development and adoption of its web development platform based on Git workflows and the modern JAMstack web architecture it pioneered. Speed, security and scalability are critical factors to competing on the web, which is why 800,000 developers and businesses have embraced Netlify to empower their development teams to build, deploy and iterate websites at a much faster pace than with traditional tools and architectures.

The Series C funding round is led by the EQT Ventures Fund with participation from existing investors Andreessen Horowitz and Kleiner Perkins, as well as Preston-Werner Ventures. Netlify has raised $97 million to date, and past investors include the founders of Figma, GitHub, Heroku, Slack and Yelp.

By abstracting away the need for webservers Netlify has become one of the fastest growing web developer platforms. Year over year, Netlify has tripled its customer base and revenue, with already eight percent of internet users visiting a Netlify-powered website each month. Enterprise customers have cited faster development cycles, faster time to first byte, cost savings, and a reduced attack surface as business drivers. The JAMstack architecture enables a wide variety of use cases including web applications, corporate marketing sites, e-commerce, media and publishing, open source documentation, and more, and companies across a wide range of industries are using Netlify including Citrix, Cornerstone OnDemand, Facebook, Flexport, Google, LiveChat, Loblaw, Victoria Beckham Beauty, and Unilever.

Netlify recently launched a suite of enterprise-grade products to support customers with a focus on developer team collaboration, high-performance build environments, uptime SLAs and premium support. With this round of funding, the company plans to deliver new features to continually improve the experience and performance for developers and enterprises alike, while continuing to expand its team.

In 2015, Netlify bet its company on a new web architecture that abstracts away the complexities of building and hosting websites by eliminating the need for webservers. Its founders coined the architecture ‘JAMstack,’ which spurred the growth of an ecosystem and global community of developers embracing modern, git-based workflows and tools to deliver the most performant, secure and cost-effective sites at scale.

Additionally, Netlify works closely alongside web development solution providers including AKQA and Proximity BBDO to help their clients use the JAMstack and Netlify. The funding will also be used to accelerate partnerships with web agencies and technology partners in the web ecosystem.

EQT Ventures’ proprietary artificial intelligence (AI) platform Motherbrain flagged Netlify to the EQT Ventures team as a key investment opportunity. With this investment, Laura Yao, deal partner and investment advisor at EQT Ventures, also joins the Netlify Board of Directors. Netlify welcomes the quality of insights from Yao in the US alongside EQT Ventures’ European teams. Additionally, with EQT Ventures’ major presence in Europe, Netlify can be better enabled to further expand its offering to European enterprises.

Mathias Biilmann, co-founder and CEO, Netlify said, “We started Netlify with the mission to empower developers and change the way the web is built. The growing number of developers signing onto Netlify daily and the latest investment in our business has validated that vision. With this funding we’re full-speed ahead delivering new features, investing in our enterprise-grade infrastructure and growing our team, to help more developers and businesses take advantage of the JAMstack.”

Laura Yao, deal partner and investment advisor at EQT Ventures added, “Netlify and the JAMstack are fundamentally changing how websites and web applications are built. The large and growing community of developers building on the JAMstack is testament to the movement that Matt and Chris and the team are spearheading, and to the unified platform they’ve built. With the company more than tripling its revenue in the last year, the EQT Ventures team is happy that Motherbrain got Netlify on our radar, and we’re excited to support the company as it continues to scale globally.”

Maciej Malesa, chief technology officer, LiveChat commented, “Moving all of LiveChat websites to Netlify has empowered our Web Dev Team to iterate fast and independently. Additionally, SysOps can now keep focus on LiveChat’s core services.”

Jonathan Bobo, chief technology officer, Proximity BBDO concluded, “Our clients need to keep up with the demand for more instant and dynamic web content. As a top global digital organization our clients trust us to help them embrace the powerful web architectures of tomorrow, which is why we collaborate with modern web experts like Netlify. We are already benefiting from the productivity gained thanks to building on Netlify. Our clients are loving the performance of their JAMstack sites on Netlify.”

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