Unicorn Status Solidifies Company As Future Of Website Operations
San Francisco, CA /PRNewswire/ - Pantheon, the SaaS platform that empowers WebOps teams to create websites that excel in the digital economy, has announced Monday a $100 million Series E fundraising round at a valuation over $1 billion. The sole investor was SoftBank Vision Fund 2*. Pantheon has raised $200 million to date.
"CMOs are under growing pressure to drive revenue and growth, but their company websites — the lynchpin to their digital strategies — are often slow and difficult to keep up-to-date with the demands of modern business," said Pantheon Co-Founder & CEO Zack Rosen. "We knew there had to be a better way to empower web teams with a platform they love. When web teams work seamlessly together, they can deliver incredible digital experiences that drive revenue growth."
Pantheon's software was built on this vision of finding a better way to unlock extraordinary performance for web teams. The traditional way of building websites is time-consuming and manual, involving drawn-out development cycles that can extend months or even years. Pantheon has changed the way modern websites are made. Now customers, which include well-known brands such as DocuSign, Patagonia, MGM, Clorox, MIT and the United Nations Foundation are able to rapidly test, innovate and launch new website experiences for their customers daily.
"Digital transformation has accelerated the movement to the cloud for essential business infrastructure. By automating workflows and do-it-yourself with its SaaS offering, we believe Pantheon's leading platform is transforming how modern website experiences are created," said Vikas Parekh, Partner at SoftBank Investment Advisers. "We are excited to partner with Zack and the Pantheon team to support their ambition of helping organizations embrace a new and better way of building websites that deliver results."
Pantheon's vision of empowering the people who design and build websites embraces the promise of the open web to instantly reach any customer across the globe. The company is passionate about enabling organizations of every size and across all industries to create websites that help them achieve their mission.
Pantheon currently powers website operations for more than 12,000 businesses, reaching more than one billion unique visitors per month. Pantheon will use the funding to accelerate software development, grow its customer success team, and amplify its go-to-market strategy.
Pantheon's WebOps Platform powers the open web, running sites in the cloud for customers including Stitch Fix, Okta, Home Depot, Pernod Ricard and The Barack Obama Foundation. Every day, thousands of developers and marketers create, iterate, and scale websites on the open web to reach billions of people globally. Pantheon's SaaS model puts large and small web and digital teams in control of increasing the performance of their teams, websites, and marketing programs. Pantheon cloud native software includes governance, security and collaboration tools that make it easy to securely manage a single website or thousands of websites across multiple teams in one platform. The built-in ability to simultaneously create, test, deploy and run live sites with unrivaled hosting speed, scalability and uptime give marketing teams the agility to win in the dynamic world of digital marketing.
*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.