WordPress Hosting Provider WP Engine Raises $23 Million

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WordPress hosting provider WP Engine announced Wednesday a $23 million funding round, led by existing investor North Bridge Growth Equity. The company plans to use the investment to continue its global growth, as well as bolster a new innovation roadmap and quality customer experience.

The latest round doubled North Bridge’s investment in WP Engine, after a $15 million round in early 2014, and brings the company’s total VC funding to $41.2 million. At that time WP Engine supported 120,000 websites, but is now up over 300,000.

The company says that WordPress now powers 23 percent of the web. Competition is stiff however, and already was before UK startup Pressidium jumped in with a managed WordPress hosting platform in January.

“Today, every business and even every individual has the potential to be a media company and WP Engine plays a critical role in enabling this new wave, given that its platform’s performance has exploded over the past year as enterprises benefit from the scalability and dynamism of WordPress,” said Jim Moran, General Partner, North Bridge Growth Equity and member of the WP Engine board of directors. “We want to further propel WP Engine’s growth trajectory, award-winning customer experience, state-of-the-art WordPress platform, and world-class management team. We are pleased to increase our investment in the company and look forward to working with WP Engine’s leadership during this next phase of expansion.”

Since its last funding round WP Engine has released several key products including Mercury HHVM and the GeolP plugin. The company also opened London and San Antonio offices, and doubled the size of its team.

“This funding will help us maintain that momentum and enhance our ability to invest in customer experience excellence, new innovations and better serve our growing roster of global customers,” said CEO Heather Brunner.

WordPress plugin security will be an area of concern for users of the popular platform after a Yoast vulnerability and ISIS banners made headlines earlier in March. WP Engine senior technical advisor Jason Cosper told the WHIR last summer that end-users must be proactive with WordPress security.

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