Privacy tech continues cooking on gas. To wit: Non-tracking search engine DuckDuckGo has just revealed that it beefed up its balance sheet at the back end of last year with $100 million+ in “mainly secondary investment” — from a mix of existing and new investors.
Its blog post name-checks Omers Ventures, Thrive, GP Bullhound, Impact America Fund and WhatsApp founder Brian Acton; inventor of the world wide web Tim Berners-Lee; VC and diversity activist Freada Kapor Klein; and entrepreneur Mitch Kapor as being among the participating investors. So quite the line up.
DuckDuckGo said the secondary investment allowed some of its early employees and investors to cash out a chunk of their equity while bolstering its financial position.
Although it also says its business — which has been profitable since 2014 — is “thriving”, reporting that revenues are now running at more than $100 million a year. Hence it not needing to keep dipping into an external investor pot.