Flash website building company Wix Inc. has raised $40 million in its fourth financing round. Insight Venture Partners and DAG Ventures led the round, joined by Benchmark Capital, Bessemer Venture Partners and Mangrove Capital Partners. Wix will use the capital to consolidate its new Facebook service.
Wix CEO Avishai Avrahami founded the company in 2006, and it placed third in the "Globes" most promising start-up ratings for 2010. The company has raised $61 million to date.
Avrahami told "TechCrunch" that Flash was the best platform for websites being viewed on PCs and other computers, and that Wix will be rolling out a mobile site creator in the next few months, which will leverage HTML5 technology for mobile devices. "TechCrunch" notes that many companies are scrapping Flash in favor of HTML5 core for mobile devices. It says that Wix has nine million users, has doubled in size and the company added a West-coast branch to its existing Tel Aviv and New York offices.
Published by Globes [online], Israel business news - www.globes-online.com - on March 29, 2011
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