At Accel, we fervently believe in the rise and empowerment of the modern developer. Atlassian, Sentry, Algolia, Checkr, Segment, Browserstack and Snyk are all initiating Accel investments rooted in the belief that developers sit at the heart of modern company building. Despite this, there are only 20 million developers in the world today, and their influence on the digital economy is dramatically outpacing their headcount. It’s this disparity that Webflow aims to counter, enabling literally everyone to create for the web.
We first partnered with the Webflow team in August of 2019 when we led a $72m Series A in the company. Today, we’re excited to lead Webflow’s $140m Series B with our friends at Silversmith and new investor, CapitalG. Over the last decade, we’ve selectively led multiple rounds into companies like Slack, Crowdstrike, UiPath, Snyk and Qualtrics, and the common elements shared across them are a killer product that appeals to a passionate community of users, a promising market riding powerful secular tailwinds and a compelling, and a hungry and mission-driven team with a deep desire to win.
Webflow possesses these traits and more. Last year, the company doubled its customer base and revenue, all while remaining cash flow positive and ending the year with all the money raised from its Series A still in the bank. They added five new VP’s and grew the team to over 200 people, all while remaining true to their mission and core values. Perhaps most importantly, they enabled a whole generation of small and medium sized businesses to come online at a time when COVID existentially threatened their physical operations. Looking forward, the company intends to expand beyond front-end websites into full-fledged applications and enable an ecosystem of partners and developers to extend the platform’s functionality. We’re looking forward to sharing more about what they’re building later this year.
The future for the web is bright and this new generation of no-code tools, led by Webflow, is leading the way. We deeply believe in their collective mission to democratize web creation for all, and we can’t wait to see what products, applications and services are enabled by this new paradigm.
-Arun Mathew & Ben Fletcher