A Palo Alto, Calif., company with a growing Louisville operation has raised $50 million in Series D financing, taking the company’s total raised to $100 million.
Duda Inc., which produces a website-development platform, raised the funds in a round led by Claridge IL, along with existing investors Susquehanna Growth Equity and Vintage Investment Partners. The Series D round was the company’s largest to date.
Duda has grown dramatically in recent months, expanding its Louisville operation from 11 pre-COVID to 40 today, Oded Ouaknine, chief customs officer for Duda, told BizWest in an email. The company plans to add 10 to 15 more employees in Louisville by the end of 2021. Duda also maintains operations in Israel.
The Duda website platform has been used to build one million websites, with 17,000 web professionals using the platform, according to the company. The latest funding will be used to develop new products and features and to expand investments across all departments, including R&D, sales, and marketing, the company said.
Duda’s platform is designed for developers building websites for small businesses. It facilitates collaboration among agencies, freelancers and clients through the web-design process.
Lead investor Claridge IL is a growth equity investment firm focused on Israel-related growth-technology companies and is backed by Canadian investors. Rami Hadar, a managing partner at Claridge IL, will join Duda’s board.
“This is an exciting time for Duda. We have seen our growth significantly accelerate and feel that with this additional financing, we can step on the gas and grow even faster,” Itai Sadan, co-founder and CEO of Duda, said in a statement. “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.”
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