Bending Spoons has raised $270m in equity at a pre-money $11bn valuation, a day after the Italian software unicorn announced it had secured $2.8bn in debt financing.
The startup, known for buying other apps and products including WeTransfer and AOL, has raised more than $600m from investors including Baillie Gifford, Ryan Reynolds and Endeavor Catalyst.
The round featured Baillie Gifford, Cox Enterprises, Durable Capital Partners and Fidelity Management & Research Company.
Alongside $270m in primary equity sales, it also comprised $440m in secondaries.
The company said it plans to deploy the fresh funds to further develop its proprietary technologies and AI capabilities, and to pursue new acquisitions that expand its portfolio of consumer and enterprise digital products.
In the past two months, Bending Spoons has entered into agreements to acquire AOL and Vimeo, subject to conditions. It previously bought other well known apps including Hopin and Evernote, and has made over 50 deals in total.
“This moment is a validation of a decade’s worth of work and it serves as an important recognition of what we’ve accomplished at Bending Spoons so far,” said cofounder and CEO Luca Ferrari, who Sifted interviewed in April.
“We remain early in our journey and have ambitious plans for continued investment and growth.”
Bending Spoons, which launched in 2013, expects to generate $1.2bn in revenue this year, the company told Sifted earlier this month.
