WP Engine, a managed WordPress hosting provider that has surpassed $100 million in annual recurring revenue with over 75,000 customers globally (up 30 percent year-over-year), has announced a $250 million investment from technology investor Silver Lake.
Silver Lake’s investment in the managed WordPress hosting provider would help accelerate innovation on WP Engine’s Digital Experience Platform and fuel future growth internationally. As part of the transaction, Greg Mondre, Managing Partner of Silver Lake, and Lee Wittlinger and Mark Gillett, Managing Directors of Silver Lake, will join WP Engine’s Board of Directors.
“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,” said Heather J. Brunner, Chairwoman and CEO of WP Engine. “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.”
In October 2017, WP Engine announced the opening of its new branch office in Brisbane to further support the managed WordPress hosting provider’s surging customer base across Australia and New Zealand. The company expects to more than double its customer base and ramp its employees there over the next three years. The Brisbane office is the company’s latest global expansion, following the opening of branch offices in London in 2015 and Limerick, Ireland in 2016.
Alibaba, Dell, GoDaddy
Founded in 2010, WP Engine is headquartered in Austin, Texas, and has also offices located in San Francisco, California; San Antonio, Texas.
Silver Lake is a global technology investing company with about $39 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located in Silicon Valley, New York, London, Hong Kong and Tokyo.
Silver Lake’s portfolio of investments would collectively generate more than $140 billion of revenue annually and employ more than 300,000 people globally. The firm’s current portfolio includes leading technology and technology-enabled businesses such as Alibaba Group, Dell Technologies, GoDaddy, SolarWinds and Symantec.