Digital web design agency and software-as-a-service (SaaS) platform Duda raised $50 million in Series D financing, led by Claridge IL, an investment firm set up through a partnership between Claridge Inc., the Stephen Bronfman Family Office, and Caisse de dépôt et placement du Québec, one of Canada’s largest institutional investors.
Existing investors Susquehanna Growth Equity (SGE) and Vintage Investment Partners also participated in the round, according to a company announcement this month.
This is Duda’s largest financing round to date and brings the total raised by the company to $100 million.
Duda was founded in 2009 by Itai Sadan and Amir Glatt and is based in Palo Alto, with offices in Tel Aviv. The company built a website development platform specifically for web professionals that build websites for small business customers and allows for collaboration with clients through the entire web design process — content collection, design, revisions, approval, and launch
Since launching the platform in 2010, a million sites have been published on the white-label Duda platform by over 17,000 web professionals, the company said in the announcement.
The new funding will be used to accelerate growth, developing new products and features, and expanding investments across all departments, including R&D, sales, and marketing, Duda indicated.
“We have seen our growth significantly accelerate and feel that with this additional financing, we can step on the gas and grow even faster,” said Sadan, who serves as CEO. “Claridge IL is very much aligned with Duda’s expansion plans and vision for the future, and we are highly confident that their expertise, network, and resources will contribute to our continued global expansion and product development.”
Oded Tal, Claridge IL’s founding managing partner said: “We look forward to partnering with Duda and its existing shareholders in further cementing Duda’s leadership in its space, as well as fulfilling its vision of making web design easy and scalable for web professionals serving clients across all industries. The company has built an incredible product that is highly regarded by web professionals and operates in a truly massive, high growth market.”
Rami Hadar, a managing partner at Claridge IL will join Duda’s board.