Kajabi, an Irvine, Calif.-based e-commerce platform for entrepreneurs in the knowledge economy, raised $550m in growth equity financing that values the company at over $2 billion.
The round was led by Tiger Global Management with participation from TPG, Tidemark, Owl Rock Capital and Meritech Capital and existing investor Spectrum Equity. As part of the funding, Scott Wagner, former CEO of GoDaddy and Tidemark Advisor, will also be joining Kajabi’s Board of Directors.
The company intends to use the funds to intends to continue scaling its team and building products, expand internationally, and explore strategic mergers and acquisitions that can further expand its product portfolio and geographic reach.
Founded in 2010 and led by CEO Kenny Rueter, Kajabi is a platform for knowledge entrepreneurs to build, market, and sell educational content. Users can publish, market, and sell online courses, membership sites, communities, and other digital products. Tens of thousands of entrepreneurs use it to build and manage their online businesses, and the company has helped these entrepreneurs generate over $2 billion in sales from nearly 50 million customers to date.