Crowdfunding startup Indiegogo has secured $40m in Series B capital, which is the largest round ever raised by a business of its kind.
The round was led by Institutional Venture Partners and Kleiner Perkins Caufield & Byers (KPCB) with participation from existing backers Insight Venture Partners, MHS Capital, Metamorphic Ventures and ff Venture Capital.
Over the past two years, funds raised via Indiegogo have soared 1,000 per cent and it has so far hosted more than 190,000 campaigns from nearly 190 countries.
The company said that the funding will enable it to grow its team in San Francisco, New York and Los Angeles and expand internationally.
KPCB general partner John Doerr said, “Indiegogo is playing a central role in the transformation of the global economy.
“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.”
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