Matt, founder of Automattic and creator of WordPress has raised 29.5 Million.
Automattic had raised a whopping $29.5 million in a Series B Round of funding, including a strategic investment from The New York Times Co. Previous investors True Ventures, Polaris Ventures, and Radar Ventures also invested in this round.
This sounds pretty awesome, and all of Matt’s hard work seems to be paying off nicely.
So what does Automattic need the money for? After all, from what I know of the business, Automattic has been bubbling around the break-even point for a while now. Matt explains that they are going to roll out newer, hosted services such as BBPress (forums), and will expand their other product offerings, such as Gravatar and the spam-protection service Akismet. The money will be spent to hire more engineers and build out a more robust infrastructure.
And I’m excited to hear they’ll be working to expand BBPress. It think it has so much more potential.
Howdy, I'm Chad Coleman.