Indiegogo raises $40 million
Indiegogo is one of the largest crowdfunding platforms today and handles campaigns in a way that is similar to Kickstarter. What distinguishes Indiegogo different from Kickstarter is that projects can still keep the amount that is pledged even if they do not hit their goals. However, Indiegogo keeps a larger commission. Indiegogo also supports charitable causes unlike Kickstarter.
Indiegogo announced today that they have raised $40 million in Series B venture capital funding in order to make key hires, expand globally, and improve user experiences. Investors in this round include Institutional Venture Partners (IVP) and Kleiner Perkins Caufield & Byers (KPCB).
“We’re committed to making Indiegogo the world’s funding engine and giving people access to capital worldwide,” stated Slava Rubin, founder and CEO of Indiegogo. “With IVP’s and KPCB’s support, we can rapidly take critical steps to helping more and more people fund what matters to them.”
Indiegogo has hit around 190,000 campaigns and has around 85 employees.
[Source: NYT]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry