Ceros is taking a big step up in fundraising, with the announcement that it has raised a $100 million investment led by Sumeru Equity Partners along with other existing investors on 22nd July, 2020. The New York City based platform offers its clients to create websites and graphics without any coding.
Sumeru Equity Partners (SEP) investment was led by Sanjeet Mitra, John Brennan, George Kadifa and Vinay Kumar.
The company previously secured $14 million in Series C funding in February 2019 and $8 million in Series B Financing in August 2016. The total funding till now is $33.5 million. The company also claims to utilize the latest investment for making acquisition and international expansion.
About the Company
Established in 2012 by Simon Berg in New York, Ceros provides a platform for clients like McKinsey, United Airlines, JP Morgan, IBM, Pinterest, NBC, Snap, Condé Nast and Red Bull to create “digital experiences” – basically, well designed websites and beautiful graphics — without writing any code. (You can see some of the best examples in the Ceros Inspire gallery.)
SEP, meanwhile, is a technology-focused growth fund that has invested in companies like Social Chorus, Talend and GoGuardian.
Sanjeet Mitra, (from investor team at SEP) said he was initially attracted to the company because it created “an enterprise-grade, sophisticated and easy-to-use tool that designers admire because it allows them to create fantastic content.”
Moving forward, Berg said we can expect the creation of more products like the recently launched design collaboration tool MarkUp, particularly as brands need to “craft experiences more rapidly and you can’t do that if you’re sending PSD files across the internet via email.”
Additionally Mitra explained that the company also plans to use the new money to make acquisitions, emphasizing that it won’t just be an indiscriminate roll-up strategy — an idea that prompted Berg to gag loudly — but rather will focus on products that Ceros customers actually want. It will also fund continued international growth.
“Simon has the capabilities to be a global company leader and definitely a public company leader one day, if he wants to,” Mitra further added.
