SynthaSite raises $20 million series B round
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Bangalore: SynthaSite, one of the players in the DIY website or blog builder field, has raised $20 million Series B round from Luxembourg-based Reinet Fund, the same investor the company raised its series A funding of $5 million in November 2007. Reinet Fund has a market cap of over $2 billion. SynthaSite plans to use the money to grow both organically and through selected acquisitions. The company had acquired bought Clickpass last December. SynthaSite's co-founder and CEO Vinny Lingham said that it was definitely not a down-round and that they're in it for the long run. He also added that the company is growing nicely, boasting 1 million registered users and graphs clearly showing an upwards traffic trend. SynthaSite makes building simple websites a breeze, but in that it doesn't differ much from the dozens of similar services out there like just launched DevHub, WebJam, Sampa, Jimdo, Weebly, and webme apart from the fact that they integrated a bunch of third-party services into the application like WidgetBox for widget distribution and Picnik for photo editing. SynthaSite is also up against services from established companies, like Microsoft Office Live and Google Sites, according to the company website. SynthaSite is looking for partnerships with ISPs and large computer manufacturers and internet companies, who could offer a co-branded solution to their users without paying SynthaSite for the service but rather getting a chunk of the revenues back from the company.

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