While apps continue to grow in popularity as a primary route for people to interface with the digital world, there remains a very significant role for the web, and today, a startup that helps businesses build and run websites, specifically on WordPress, has raised a very large round of money.
WP Engine, which claims to be one of the world’s largest WordPress hosts, has raised $250 million in funding led by Silver Lake, money that the company intends to use to fuel its international growth and continue developing its Digital Experience Platform, the product that underpins its main line of business.
The company did not disclose its valuation (we’re asking) in its own announcement of the funding, but in its last round, in 2015 when it picked up a modest $20 million, WP Engine was valued at just under $194 million post-money, according to PitchBook. This would imply a current valuation of at least $444 million, or more if this was an up-round.
It’s likely it was: the company boasts that it now makes more than $100 million in annual recurring revenue and has more than 75,000 customers, up 30 percent in the last year.
The company, in fact, says that its platform powers around five percent of all internet visits. WordPress itself, WP Engine says, accounts for 29 percent of the entire Internet today, versus 13 percent in 2010.
This makes WP Engine the biggest WordPress host among the 1 million most-trafficked sites on the Internet, and a significant player in its own right, putting to paid the belief that a company that is built on a platform — in WP Engine’s case, WordPress — it does not own…