Vercel raises $102M Series C for its front-end development platform

Vercel, the company behind the popular open-source Next.js React framework, today announced that it has raised a $102 million Series C funding round led by Bedrock Capital. Existing investors Accel, CRV, Geodesic Capital, Greenoaks Capital and GV also participated in this round, together with new investors 8VC, Flex Capital, GGV, Latacora, Salesforce Ventures and Tiger Global. In total, the company has now raised $163 million and its current valuation is $1.1 billion.

As Vercel notes, the company saw strong growth in recent months, with traffic to all sites and apps on its network doubling since October 2020. About half of the world’s largest 10,000 websites now use Next.js . Given the open-source nature of the Next.js framework, not all of these users are obviously Vercel customers, but its current paying customers include the likes of Carhartt, Github, IBM, McDonald’s and Uber.

“For us, it all starts with a front-end developer,” Vercel CEO Guillermo Rauch told me. “Our goal is to create and empower those developers — and their teams — to create delightful, immersive web experiences for their customers.”

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