Kajabi, an Irvine-based online business platform for entrepreneurs, has raised $550 million in a new financing round.

The round values the company at over $2 billion and was led by Tiger Global Management. Additional investors include TPG, Tidemark, Owl Rock Capital and Meritech Capital. 

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The investment will support product development, team growth and international expansion for the company, it said.

Kajabi, founded in 2010, has generated over $2.5 billion in gross merchandise value with $1 billion generated in the last 12 months alone.