October 13, 2015 / 11:35 AM / 4 years ago

Optimizely raises $58 million in latest funding

(Reuters) - Website optimization company Optimizely said it raised $58 million in Series C funding, bringing its total funding to $146 million.

The latest funding round was led by tech and life sciences-focused Index Ventures and was backed by Andreessen Horowitz, Bain Capital Ventures and Citi Ventures.

Ilya Fushman, a general partner at Index, will join Optimizely’s board, the company said on Tuesday.

San Francisco-based Optimizely helps customers improve the performance of their webpages, using a technique called A/B testing, and provides webpage personalization services.

A/B testing compares two versions of a webpage and determines which one performs better by analyzing usage data.

Optimizely was founded in 2010 by two former Google product managers, Dan Siroker and Pete Koomen, two years after Siroker deployed A/B testing to enhance online fundraising for Barack Obama’s presidential campaign.

The company, which counts Walt Disney Co, Priceline Group and British daily Guardian among its customers, said it would use the latest funds to improve its website personalization offering.

The company also said revenue had more than doubled since its previous fund-raising round in May last year.

Reporting by Sai Sachin R in Bengaluru

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