OMERS Ventures helps literary community Wattpad raise $46m


glasses-learning-education_sqOMERS Ventures has led a $46m funding round for online community Wattpad, which allows users to write and share stories.

Union Square Ventures, Khosla Ventures, Jerry Yang of AME Cloud Ventures, Golden Venture Partners, and Boris Wertz of Version One Ventures also participated in the round, said Wattpad.

Wattpad, which currently has 25m users, said it will use the funding to support product development and community growth.

The company plans to continue to expand its team in Toronto and move to a new downtown office within the next few weeks.

In September 2012 OMERS, which is the venture capital investment arm of Canadian pension fund OMERS, participated in Wattpad’s Series B.

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