Donuts raises more dough to pursue new top level domains.
Donuts Inc., which applied for 307 top level domain names, has raised new funding.
The company did not disclose the amount of funding in the new round, but the valuation doubled compared to the series A round.
Donuts had previously raised about $100 million. The company says the oversubscribed round “nearly doubles our capacity to compete”, although I wouldn’t read into that that it raised another $100 million.
The new round was led by existing investor Generation Partners.
The company plans to use the funds to resolve contention sets. In other words, it will use the new cash to compete in auctions for new top level domains in which there are more than one applicant.
I could not find an SEC filing associate with the capital raise.