Minted Raises $5.5 Million In Series B Funding
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Minted.com, an e-commerce service for stationery and cars, has raised $5.5 million in Series B funding in a round led by Benchmark Capital, IDG Ventures, Menlo Ventures, Marissa Mayer, and Jeremy Stoppelman. Minted connects independent graphic designers to consumers looking for prints such as holiday cards, notebooks, calendars, and wedding invitations. The designer makes a percentage of every sale of their design.
To provide designers with extra exposure, the company holds contests. One popular contest was the Art Print Challenge. The winning designer would be able to sell his or her prints on One Kings Lane. Minted CEO and founder Mariam Naficy said that revenue has grown several hundred percentage since 2008. The company plans on using the funding for recruiting and support growth opportunities. They will also look into new product lines.