What originally started at a website building platform for SMBs has morphed in a high-growth platform for agencies and SaaS brands. Duda recently announced a $25 million investment round from Susquehanna Growth Equity (SGE), a private equity firm.
The investment brings the total of outside funding to $50M for Duda, and allows them to redefine their R&D and marketing to focus on the digital agency market.
VC firms love the idea of recurring revenue, found in SaaS companies like Workday (NYSE:WDAY), for instance, an early example of platform-based delivery that garnered big VC interest. For SGE, Duda’s appeal is the exponential reach and recurring revenue potential of Duda’s thousands of agency customers.
Read more here: https://finance.yahoo.com/news/25m-investment-duda-doubles-down-140945386.html