Automattic Inc. announced that it will issue 8,888,888 series C preferred shares for gross proceeds of $159,999,984 on May 1, 2014. The company has entered into series C preferred stock purchase agreement with investors. The shares are non-redeemable. The shares carry non-cumulative fixed dividend rate of 6% per share per annum. The shares will be convertible into common shares of the company at an issue price. The company will issue securities pursuant to exemption provided under Regulation D. The round will see participation from 13 investors.

On the same date, the company received $15,000,000 in funding from new investor, Endurance International Group Holdings, Inc. in its first close. This investment represents less than 5% of the outstanding shares of the company.

On May 5, 2014, Automattic, Inc. closed the transaction. The series C round of funding was led by new investor Insight Venture Partners VIII, L.P., a fund managed by Insight Venture Partners. The round also included participation from existing investors True Ventures, Tiger Global Management LLC, ICONIQ Capital, LLC; and new investors Chris Sacca and CrossFit Endurance. Deven Parekh of Insight Venture Partners led the transaction. The round is raised a post-money valuation of $1,160,000,000.