Wix Raises $40M in Series D Funding

Wix.com, a New York-based start-up that offers a free website builder, has raised 40m in Series D funding.
Insight Venture Partners and DAG Ventures joined existing investors Benchmark Capital, Bessemer Venture Partners and Mangrove Capital Partners.
The company plans to use the funds to continue to further develop and launch tailored solutions for mobile and social web.
Wix currently provides a free website builder featuirng an intuitive drag & drop interface, with the option to purchase features like domain ownership and eCommerce capability.
The Wix Mobile, which will be released soon, is an HTML5 wizard enabling users to create their own websites designed for optimal display and performance when viewed on smartphones and mobile devices. The company recently launched a powerful Facebook application, that allows users to create customized Fan pages.
Created in 2006 by CEO Avishai Abrahami, Wix released the open-beta version of its website builder in June of 2008. The company has offices in San Francisco and Tel Aviv.

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