WordPress.com, valuing it at $300 million, a senior company official said.
This is the first external funding round for the company. “We are not looking at raising any more capital immediately,” said Turakhia, founder and CEO,
The strategic investment from Automattic, one of the company’s largest in another business, will help Titan to leverage WordPress.com’s huge global network.
“Any user that signs up on WordPress.com will get to use the email solutions from Titan as a bundled product,” Turakhia told journalists.
Automattic has millions of paying subscribers and “hundreds of millions” of free users that avail its WordPress services. Apart from that, the company also has products such as WooCommerce, Jetpack, Tumblr, and WordPress VIP.
Titan is a platform that helps organisations to streamline workflows, automating tasks and making conversations richer and more contextual. The startup said it will leverage the investment from Automattic to deepen and expand its product suite to deliver even greater value to its current and future customers.
Currently, Titan has an active user base of 100,000. “Our next milestone is to reach a million users in the next 12 months and target around 4-5 million users over the next 2-3 years,” Turakhia said.
“Email is the most ubiquitous form of messaging available out there as against any other platform that are closed ended. But even in 2021, a real good email solution is hard to come by and hence there is a huge market opportunity out there,” Turakhia said.
Globally, there are 400 million small businesses as on date, with 40 million new websites being created each year, and around 1.4 billion business email accounts are going to be there by 2023.
“Email is used by over one sixth of the global population for work, yet very little innovation has happened in business email over the last two decades,” said Turakhia.
“We are working to integrate it deeply on
WordPress.com as a tool to help customers build a professional brand online,” said Matt Mullenweg, founder and CEO of Automattic.