Congratulations are due for the folks at Flywheel, the WordPress hosting platform for designers, as they raised a whopping $4M Series A round of funding, led by the fine folks at Five Elms in KC, along with many of our existing investors – Linseed, Ludlow, Lightbank, HPVP and a handful of others.
In a blog post on the Flywheel website, CEO and Co-Founder Dusty Davidson had this to say:
One of the pretty cool things about this round is that Flywheel was in the (unique) position of not really needing to raise money – we’ve got a large and growing customer base and cash in the bank. With the seed round of funding from a year and a half ago, we were able to build a fast-growing and profitable business, and have established ourselves as one of the top players in the WordPress hosting market.
That said, we’ve long talked about Flywheel as “a software company that happens to host websites,” and to that end, one of the things that funding allows us to do is continue to innovate and add features and functionality to our platform for designers and agencies.
We could have grown both quickly and organically, continuing to add features every now and then and products ad-hoc over the next few years. On the other hand, we realized that we could raise money with some like-minded partners and laser-focus our efforts on building THE WordPress platform of choice for web designers. Our partnership with Five Elms allows us to do just that (in addition to adding a bit of fuel to our sales and marketing fires).