WP Engine Lands $250 Million in Funding from Silver Lake

Heather J. Brunner, Chairwoman and CEO of WP Engine, courtesy photo.

One of the most successful startups to spin out of Capital Factory, WP Engine announced Thursday that it has received $250 million in funding from Silver Lake, a venture capital firm.

WP Engine, founded by Jason Cohen in 2010, now has more than $100 million in annual recurring revenue and more than 75,000 customers worldwide, according to a news release.

The company plans to use the funding for development of its technology and to expand internationally. As part of the deal, Greg Mondre, managing partner of Silver Lake, and Lee Wittlinger and Mark Gillett, managing directors of Silver Lake, will join WP Engine’s board.

Previously, WP Engine raised $40.72 million with investors Northbridge Venture Partners & Equity Growth and Silverton Partners.

“We are partnering with Silver Lake because of their incredible track record as technology investors, their understanding of digital platform businesses like ours and because of the alignment in core values we share,” Heather J. Brunner, Chairwoman, and CEO of WP Engine said in a statement. “This partnership will help us further invest in our Digital Experience Platform and bring the power of our platform to WordPress users all around the globe.”

WP Engine provides website hosting for WordPress customers. WordPress websites make up about 29 percent of all websites online, up from 13 percent in 2010.

“We believe WP Engine is poised to take a leading global position in the fast-growing WordPress ecosystem and we look forward to working alongside the company’s talented management team as it executes on its next phase of development,” Wittlinger of Silver Lake, said in a news release.

WP Engine opened an office in Brisbane last October. The company also has offices in London and Limerick, Ireland. In the U.S., WP Engine has offices in San Antonio and San Francisco.

“Clearly 2017 was an outstanding year for WP Engine, our customers and our employees,” Brunner said. “Our mission is to help our customers win online. We wouldn’t have this phenomenal success without our incredible employees delivering outstanding technology and service to our customers every day. We are looking forward to more customer success led growth around the world in 2018.”

Silver Lake, a global investment firm with about $39 billion in combined assets under management and committed capital, also has investments in Dell Technologies and SolarWinds in Austin.

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