The additional capital, which takes the total amount collected to $313 million, will be used to expand the Vercel team internationally, support research and development to promote platform innovation, and speed up adoption among the Vercel community.
The funding round was led by GGV Capital. Existing investors Accel, Bedrock Capital, CRV, Geodesic Capital, Greenoaks Capital, GV, 8VC, Flex Capital, Latacora, Salesforce Ventures, and Tiger Global, as well as new investor SV Angel, participated in the funding round.
Developing Frontend Apps
The Vercel website development platform would allow frontend development teams to easily deploy any frontend application. Developers may start by deploying to the Vercel global edge network with no setup and grow up to millions of website pages dynamically.
Next.js, the open source React framework created by Vercel in collaboration with Google and Facebook, is popular among developers. Next.js is used by some of the world’s most popular websites, including TikTok, Hulu, GitHub, Ticketmaster, and TripAdvisor, for e-commerce, travel, news, and marketing.
“The speed with which both the use of our platform and this market have expanded is simply astounding, and the strong support we have seen from our investors has been a major contributor to that growth,” said Guillermo Rauch, Chief Executive Officer (CEO) at Vercel. “With the web increasingly becoming the go-to platform for major app development and deployment and Next.js at the core of that movement, Vercel’s relevance and criticality only continues to grow. We look forward to using these funds to put even stronger capabilities into the hands of developers, faster. By working closely together we can continue to create the next big things.”
Built by Developers for Developers
Since its Series A in April 2020, Vercel has garnered a lot of traction. The number of weekly npm installs for Next.js has increased by 300 percent, from 500,000 to 2 million. Individual Next.js contributors have risen to 1,800, while traffic on the Vercel Edge Network has increased 700 percent, from 3 billion to 24 billion queries each week.
“Vercel has taken the world of frontend web development by storm. Built by developers for developers, Vercel created and continues to build Next.js into the dominant React framework. At GGV Capital we believe every company in the world is becoming a software company, and Vercel’s ability to deliver both fast front ends and customized user experiences is helping power this trend,” said Glenn Solomon, Managing Partner, GGV Capital and new Vercel board observer. “Vercel founder and CEO Guillermo Rauch and his team are adding new customers at a breathtaking pace, including some of the biggest and most innovative companies in the world, making Vercel one of the most exciting product-led growth companies we’ve encountered. The future is very bright for Vercel.”
Over the past two decades, GGV Capital has backed more than 400 companies around the world, including Affirm, Airbnb, Alibaba, Big Commerce, Boss Zhipin, Full Truck Alliance, Grab, HashiCorp, Hello, Keep, Kujiale, NIU, Opendoor Technologies, Orca Security, Peloton, Poshmark, Slack, Square, StockX, Udaan, Wish, Xpeng, Zendesk, and more.
GGV Capital invests in seed-to-growth stage startups across three sectors: social/Internet, enterprise technology, and smart technology as a multi-stage, sector-focused organization. The company has interests in the United States, Canada, China, Southeast Asia, India, Latin America, and Israel, totaling $9.2 billion.