Wix Picks Up $3.5 Million Series B Funding

NY-based Wix has announced that they have raised a Series B round of funding in the amount of $3.5 million. This is in addition to the previously raised $3.5 million Series A round and $1.2 million angel round. The company notes that this new round of funding came from Mangrove Venture Capital and Bessemer Venture Partners.  Wix also notes that the funding will go towards marketing and product development.

Wix allows people to easily create Flash-based Websites. The company self-reports that over 1,500 Wix sites are created every day. I’d love to hear about their active numbers. A newly released premium version costs $10/month which removes advertising and offers other features like domain name accessibility.

The Deal spoke with Allon Bloch, co-founder of Wix who said that, "the startup got in just under the wire", as venture capitalists grow risk-averse amid the deepening financial crisis."We were fairly lucky," he says, noting that the funding environment "over the past three or four weeks has deteriorated fairly quickly. We definitely felt a change." Bloch also notes that they will probably head back fro more funding in about 18 months looking for another $5 million. 

Check out our interview with co-CEO Allon Bloch from earlier this year.