Wix Launches VC Arm To Invest In The ‘Future Of The Web’
Israeli-founded website platform Wix is launching its own venture capital arm, Wix Capital, to invest in tech innovators focused on “the future of the web” and the evolving digital landscape.
Wix Capital will look to invest in seed and early-stage companies and startups worldwide “at the intersection of online design and development, commerce and business management and AI and automation solutions,” the company said in a statement.
Wix was founded in 2006 by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan. The multi-billion-dollar company developed a cloud-based development platform that enables businesses, organizations, professionals, and individuals to take their businesses and brands online. It currently serves over 180 million registered users worldwide and employs some 4,000 people across the globe.
Wix is headquartered in Tel Aviv with offices in Austin, Berlin, Denver, Dublin, LA, Miami, New York, San Francisco, and São Paulo, among others.
Wix Capital has already invested in a number of ventures, according to the announcement, including Spike, an Israeli-founded company building a communication and workflow tool; Oriente, a digital fintech company based in Hong Kong, and Modalyst, a leading dropshipping platform.
“The Wix team understands building a world-class team while keeping a strong startup culture,” said Lior Shemesh, the company’s Chief Financial Officer, in the statement. “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,” added Shemesh, who will be leading the fund’s investment efforts.