Website design tech startup Webflow raises $ 140 million By Reuters

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© Reuters.

By Jane Lanhee Lee (Reuters) – San Francisco-based Webflow, a platform for web designers who don’t know how to code, said on Wednesday it raised $ 140 million with a valuation of more than $ 2.1 billion, as the Investors are betting that a shortage of encoders will give a boost to so-called “no code” technology. While there are other website builders like Squarespace, Webflow CEO Vlad Magdalin said they were for consumers, while Webflow provides more complex functionality for businesses and web designers. “No-code is still an early category and a lot of things you still have to do with code. But in the last year, we’ve really seen a lot of companies take this philosophy and this set of tools as a really practical way of doing business to save costs and move faster, ”Magdalin said. On Tuesday, Boston-based airSlate, which helps non-coders create internal workflow systems for things like collecting customer data or approval of travel expenses by a manager, said that raised $ 40 million. Borya Shakhnovich, chief executive officer of airSlate, said that in addition to the scarcity of IT resources, the proliferation of enterprise software was creating challenges, estimating that companies were using an average of 1,200 different software products. “There is a growing need to have pipelines between these applications,” he said. Arun Mathew, a partner at Silicon Valley venture capital firm Accel, said that while the internet has grown in the last 13 years, there are still “a relatively small number of developers – 20 million people here in the US. ) Who knew how to develop and code for the Internet “. He added that he sees a great opportunity on the field. Accel, an early investor in Facebook (NASDAQ :), and Silversmith Capital Partners led the Webflow funding round, which included participation from new investor CapitalG.

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