Website builder Elementor secures $15m from Lightspeed

Elementor, a Tel Aviv-based WordPress website builder, announced that it has raised US$15 million from Lightspeed Venture Partners in its first round of institutional funding.

Photo credit: Elementor

Founded in 2016 by Yoni Luksenberg and Ariel Klikstein, Elementor provides an open-source, drag-and-drop platform to enable professional web creators to build websites according to their needs.

It will use the new funds to scale its operations and expand its global community, with 500 meetups planned across the globe for this year. Elementor also plans to grow its team by 50% as it gears up for major product launches.

“In addressing a very real need, we have claimed a growing stake in a US$300 billion market. With this round of funding, we accelerate to our goal of allowing every web creator to easily build professional websites,” said Luksenberg, who is also the CEO of Elementor.

The company has been serving web developers, designers, and marketers in 152 markets. It says over 4 million websites were built using its no-code platform. It now aims to accelerate its growth by adding more than 1 million sites built every six months.

One big player in the space is Nasdaq-listed Wix, which is also Israel-based. It recently reported total revenue of over US$761 million for 2019 and expects to see nearly US$1 billion in revenues this year. The company has also reached 4.5 million paying customers and 165 million registered users, up 16% from 2018.