Weebly, the web hosting service that’s been in the news recently, is planning to raise €10 million in Series B funding, according to an article published by The Financial Times.
The funding round, led by German venture capital firm Sequoia Capital, is valued at €1 billion, with the majority of the funding going to Weebles new investors.
“Weeblys new investors are a very experienced team, and we have an exciting team of founders, developers and users,” said Weeblys CEO Stefan Sartorius in a statement.
“The funding will go to further the growth of the platform, which is the foundation for its future.”
The announcement comes at a time when the web hosts are looking for new ways to grow, and are looking at the opportunity to leverage new technologies.
Weeblius recently raised an additional €10m to boost its services.
Webbly is currently the #1 web hosting platform in the world.
In 2015, the platform was ranked number 3 on Forbes.com’s list of the most valuable companies in the US.
The company is looking to expand its services across multiple continents, with plans to expand to more than 50 countries in 2018.
We also recently launched a service called “Webby”, a service that lets people rent out their homes to host websites for free.
This is similar to Webbys “website hosting” service, but lets people host a single website and rent it out for the duration of their stay.