Wix announces Wix Capital, internal venture arm to invest in global startups
Wix.com, the global leader in website creation, announced its own venture capital initiative, Wix Capital, to invest in technology innovators that are focused on the future of the web and that look to accelerate how businesses operate in today's evolving digital landscape.
Wix Capital's specific areas of focus include software and technology companies that sit at the intersection of online design and development, commerce and business management and AI and automation solutions. Wix Capital aims to participate in seed and early stage investment rounds worldwide.
Wix has rapidly grown from a startup to a multi-billion dollar company with over 180 million users worldwide and more than 4,000 employees globally. Its talents and expertise from its history of success, as well as relationships it has built, can be passed onto founding teams to help them scale.
Lior Shemesh, Wix Chief Financial Officer: "Given Wix's success, the Wix team understands building a world class team while keeping a strong startup culture. 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," said Shemesh, who will be leading the fund's investment efforts.
To date, Wix Capital has deployed over $5.6 million into several companies including Spike, which created a leading communication and workflow tool and which announced in June an $8 million Series A investment round in which Wix participated. Oriente, a digital fintech company in which Wix Capital invested, provides Wix additional knowledge on financial services in emerging Asian markets. To provide Wix with insights and capabilities in a fast-growing segment of e-commerce, Wix Capital invested in Modalyst, a leading dropshipping platform. Wix Capital also invested in RestAR, a 3D capturing and AI product visualization tool, to gain more knowledge of ways that merchants and advertisers can increase conversion online.