WeddingWire, a Bethesda, MD based growth stage startup serving the wedding industry announced today that they raised a $25 million investment from Spectrum Equity. The company’s leadership team includes Timothy Chi who was a co-founder of Blackboard, Lee Wang who was VP of Sales at Parature and prior to that a Director at Blackboard.
We had a chance to catch up with the team last week and they let us know that they are gearing up for a move a few blocks down Wisconsin Ave from their current digs into the building above Indique Heights right above the Friendship Heights Metro station. The team currently occupies three floors in their existing building.
Spectrum is a private equity firm founded in 1994 with offices in Boston, MA and Menlo Park, CA. They have raised funds totaling $4.7 billion and are focused on investing in what they characterize as the information economy. Typical investments are made in growth stage companies like WeddingWire and range from $25-100 Million.
The company’s Series A funding included money from Martha Stewart Living and OmniMedia. Jason Caplain from Southern Capitol Ventures is a current Board Observer so it is likely that they contributed at a the seed or angel stage. We have not had a chance to confirm this.