Wix announces Wix Capital, Internal Venture Arm to Invest In Global Startups
Sep 16, 2020, 08:00 ET
NEW YORK, Sept. 16, 2020 /PRNewswire/ -- Wix.com, Ltd. the global leader in website creation, announced today its own venture capital initiative, Wix Capital, to invest in technology innovators that are focused on the future of the web and that look to accelerate how businesses operate in today's evolving digital landscape. Wix Capital's specific areas of focus include software and technology companies that sit at the intersection of online design and development, commerce and business management and AI and automation solutions. Wix Capital aims to participate in seed and early stage investment rounds worldwide.
Wix has rapidly grown from a startup to a multi-billion dollar company with over 180 million users worldwide and more than 4,000 employees globally. Its talents and expertise from its history of success, as well as relationships it has built, can be passed onto founding teams to help them scale.
"Given Wix's success, the Wix team understands building a world class team while keeping a strong start-up culture," said Lior Shemesh, Wix Chief Financial Officer. "Launching Wix Capital will help us stay on top of emerging trends in our fields and be a targeted effort of allocating strategic support to companies that are looking at us as an example of a strong growth company," said Shemesh, who will be leading the fund's investment efforts.
To date, Wix Capital has deployed over $5.6 million into several companies including Spike, a leading communication and workflow tool, that announced in June an $8 million Series A investment round in which Wix participated. Oriente, a digital fintech company in which Wix Capital invested, provides Wix additional knowledge on financial services in emerging Asian markets. To provide Wix with insights and capabilities in a fast-growing segment of e-commerce, Wix Capital invested in Modalyst, a leading dropshipping platform. Wix Capital also invested in RestAR, a 3D capturing and AI product visualization tool, to gain more knowledge of ways that merchants and advertisers can increase conversion online.
To learn more about Wix Capital, please visit https://www.wix.com/wix-capital.
About Wix
Wix is leading the way with a cloud-based website development platform for over 180 million registered users worldwide today. The Wix website builder was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, artists, and individuals to take their businesses, brands and workflow online. The Wix Editor, Wix ADI, Editor X, a highly curated App Market, Ascend by Wix and Corvid by Wix enable users to build and manage a fully integrated and dynamic digital presence. Wix's headquarters are in Tel Aviv with offices in Austin, Be'er Sheva, Berlin, Cedar Rapids, Denver, Dnipro, Dublin, Kiev, Los Angeles, Miami, New York, San Francisco, São Paulo, Tokyo and Vilnius.
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SOURCE Wix.com Ltd.
