Crowdfunding website Indiegogo raises $40 million of its own

Crowdfunding website Indiegogo raises $40 million of its own
Crowdfunding website Indiegogo on Tuesday announced that it had raised $40 million in funding.

Indiegogo, one of the top crowdfunding websites, announced Tuesday that it had raised $40 million in its latest round of funding from investors.

The San Francisco start-up is used by entrepreneurs to raise funds for projects and products from users on the Web. The company said it would use the additional funds to continue expanding onto mobile devices, as it currently does not have any mobile apps.


Indiegogo said the funding would also be used to continue expanding globally. However, the 85-person company already has a large international presence.

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The crowdfunding website is available in English, German, French and Spanish, and it accepts U.S., Canadian and Australian dollars as well as euros and British pounds. Indiegogo said it has hosted more than 190,000 crowdfunding campaigns from nearly 190 countries.

The new funding was led by Institutional Venture Partners and Kleiner Perkins Caufield & Byers, Indiegogo said in a statement Tuesday.

“We’re committed to making Indiegogo the world’s funding engine and giving people access to capital worldwide,” Slava Rubin, founder and chief executive of Indiegogo, said in a statement. “With IVP and KPCB’s support, we can rapidly take critical steps to help more and more people fund what matters to them.”

Indiegogo has been used to fund a number of notable campaigns. Among them was one to create a museum for Nikola Tesla, and there is an ongoing campaign to send Jamaica’s bobsled team to the Olympics in Sochi.



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