DesignCrowd Raises $3 Million
DesignCrowd is a crowd-sourced design service that has raised $3 million in funding. DesignCrowd will be using the funding to expand their service into the U.S. DesignCrowd will be using the $3 million from Starfish Ventures for their international expansion.
DesignCrowd competes with online marketplaces like 99designs, Fiverr, and oDesk. DesignCrowd offers participation payments along with a larger sum for the winners.
DesignCrowd has paid out over $1 million in participation payments so far, according to VentureBeat. DesignCrowd has paid out around $12.5 million in total payments to their community of $100,000 people.
Revenues at the company has grown by 500% since late 2011. DesignCrowd has 20 employees and raised $3 million in funding from Starfish Ventures in late 2011.