Indiegogo raises $40 million, plans to hire staff and expand globally

Danae Ringelmann - Indiegogo

Crowdfunding site Indiegogo has been around since 2008 and has seen several rounds of funding themselves. The first was a $1.5 million investment in 2011 from Metamorphic Ventures, ff Venture Capital, MHS Capital and Steve Schoettler. Then followed a Series A round of $15 million in 2012 from various partners including Insight Ventures, Khosla Ventures and Steve Schoettler.

While Indiegogo might be the second thought in the crowdfunding arena, when specifically compared to Kickstarter, but according to the New York Times the company has just raised $40 in a Series B venture financing IVP and Kleiner Perkins. To-date, the company has 85 employees and the money raised will be used for “making key hires, expanding globally and improving the user experience with a focus on mobile, personalization and trust.”

Slava Rubin, co-founder CEO of Indiegogo, stated “We’re committed to making Indiegogo the world’s funding engine and giving people access to capital worldwide. 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 is based in San Francisco, but part of their heritage has been in Canada. Over 190,000 campaigns have gone live on Indiegogo since the site launched.  From a Canadian perspective, Indiegogo has funded many successful projects. Most notedly was theKaren Huff (The bus monitor) and Whirlscape’s Minuum Keyboard Project.

Ian Hardy

Ian Hardy

Been quietly creating and building things for years. Completely addicted to Tim Hortons and Maple Syrup.