Crowdfunding platform Indiegogo nets $40 mln in Series B funds

Indiegogo said Tuesday that it has closed $40 million in Series B funding. Institutional Venture Partners and Kleiner Perkins Caufield & Byers led the round with participation from existing investors Insight Venture Partners, MHS Capital, Metamorphic Ventures and ff Venture Capital. Headquartered in San Francisco, Indiegogo is a crowdfunding platform.

PRESS RELEASE

SAN FRANCISCO, 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 helping 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:

· Canary
· Kite™ Patch by ieCrowd
· Scanadu Scout
· Skullgirls
· 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

About Indiegogo
Indiegogo empowers people around the world to fund what matters to them. As the largest global crowdfunding platform, campaigns have launched from almost every country around the world with millions of dollars being distributed every week due to contributions made by the Indiegogo community. At its core, Indiegogo is an open platform dedicated to democratizing the way people raise funds for any project – creative, entrepreneurial or cause-related. The company was launched in 2008 and is headquartered in San Francisco, with offices in Los Angeles and New York.  For more information, visit www.indiegogo.com and follow us at www.twitter.com/indiegogo and www.facebook.com/indiegogo.

About Institutional Venture Partners
With $4 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies, 97 of which have gone public. IVP is one of the top-performing firms in the industry and has a 32-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Concur Technologies (CNQR), Dropbox, Fleetmatics (FLTX), HomeAway (AWAY), Juniper Networks (JNPR), Kayak (PCLN), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), ngmoco (DeNA), Polycom (PLCM), Pure Storage, RetailMeNot (SALE), Seagate (STX), Shazam, Snapchat, Supercell, Synchronoss (SNCR), Tivo (TIVO), Twitter (TWTR), and Zynga (ZNGA). For more information, visit http://ivp.com or follow IVP on Twitter: @ivp.

About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) has backed entrepreneurs in more than 700 ventures leading to nearly 200 IPOs, over 375,000 jobs and a deep strategic network. The firm has partnered with pioneering companies like Align, Amazon, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Symantec, VeriSign and WebMD. KPCB partners serve on the boards of Amazon, Apple, Bloom Energy, Flipboard, Foundation Medicine, Google, Hewlett-Packard, Nest, Square, Tesaro, Twitter and Zynga, among others. KPCB accelerates the success of entrepreneurs with a team of partners delivering company-building services including strategy, operational scaling, recruiting, business development, product delivery and marketing communications. The firm invests in all stages from seed and incubation to growth companies. KPCB operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. For more information, visit: http://www.kpcb.com.

 

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