International crowdfunding platform Indiegogo secures $40m Series B funding to expand reach

Institutional Venture Partners and Kleiner Perkins Caufield & Byers back America’s “first and largest” crowdfunding site

US-based crowdfunding platform Indiegogo has announced that it has completed a $40m Series B round led by venture capital firms Institutional Venture Partners and Kleiner Perkins Caufield & Byers.

Several other equity investment firms backed the deal such as Insight Venture Partners, MHS Capital, Metamorphic Ventures and ff Venture Capital.

Founded in 2007, Indiegogo describes itself as the “first and largest” crowdfunding model on the market and facilitates pitches from businesses from across the world, including the UK, Europe, Australia and Canada.

Through its platform to date, the site has helped to fund 190,000 campaigns from 190 countries.

Having raised $15m Series A funding in 2014, the reward-based crowdfunding business intends to use the finance to expand its global presence and move its offering further into mobile.

Indiegogo CEO, Slava Rubin, discussed the company’s plans moving forward:  “We’ve been able to grow 300% in Europe over the year and we’re planning on adding more currencies and languages for more countries.

“There will also be a lot of focus on mobile and on personalisation and trust.”

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