Indiegogo raises $40 million from Institutional Venture Partners and Kleiner Perkins Caufield & Byers
SAN FRANCISCO, Calif. – January 28, 2014 — Indiegogo, the first and largest global crowdfunding platform, announced today that it has raised $40 million in Series B funding. The financing will be used to continue making key hires, expand globally and improve the user experience with a focus on mobile, personalization and trust. The round is led by Institutional Venture Partners (IVP) and Kleiner Perkins Caufield & Byers (KPCB), with additional funding from existing investors Insight Venture Partners, MHS Capital, Metamorphic Ventures and ff Venture Capital.
As the world’s largest crowdfunding platform, Indiegogo has hosted more than 190,000 campaigns from nearly 190 countries. In the past two years, funds raised on Indiegogo have grown by 1,000% and the company has expanded to 85 employees, opening its new headquarters in the South of Market neighborhood of San Francisco last year. With this financing, the company will be growing its team in San Francisco, New York and Los Angeles, as well as expanding internationally. Indiegogo’s online platform supports contributions in five currencies (U.S. dollar, Canadian dollar, euro, pound sterling and Australian dollar) and four languages (English, German, French and Spanish).
“We’re committed to making Indiegogo the world’s funding engine and giving people access to capital worldwide. With IVP and KPCB’s support, we can rapidly take critical steps to help more and more people fund what matters to them,” said Slava Rubin, founder and CEO of Indiegogo.
“Indiegogo is playing a central role in the transformation of the global economy,” said John Doerr, general partner at KPCB. “We are excited to partner with Indiegogo to help support the dreams and aspirations of the Indiegogo community and continue establishing Indiegogo as the leading international platform for funding new ideas and innovation.”
“Indiegogo’s flexible funding model and open platform are helping it become the market leader in the rapidly growing crowdfunding space. The company is the Android of crowdfunding—easily accessible and open to all,” said Jules Maltz, general partner at IVP.
Indiegogo is democratizing access to funding by allowing anyone, anywhere to raise money. As a result of this commitment to empowerment and diversity, Indiegogo has featured some of the most innovative and influential crowdfunding campaigns including the following:
- Kite™ Patch by ieCrowd
- Scanadu Scout
- Ubuntu Edge by Canonical
- Tesla Museum by Matthew Inman of The Oatmeal
- Protest the Hero
- Shine by Misfit Wearables
- A Vacation for Karen Klein
- The Bounce Back with Shemar Moore
- Parkinson’s Institute and Clinical Center partnered with the Draper Family