Indiegogo Raises $15 Million Underscoring Strong Crowdfunding Growth
Indiegogo, the world’s largest online funding platform that empowers anyone with an entrepreneurial, cause-related, or creative idea to generate funding online, today announced that it has raised $15 million in its round A financing. The funding was led by Insight Venture Partners and Khosla Ventures, with existing Indiegogo investors Metamorphic Ventures, MHS Capital, ffVenture Capital, and Zynga co-founder Steve Schoettler participating. The new funding will be used to scale customer acquisition, technology development and operations.
Indiegogo’s funding platform has grown to feature more than 100,000 projects across 196 countries in the areas of technology, film, music, philanthropy, arts, food, health and education. The company is now distributing millions of dollars per month and has the most diverse funding platform in the world.
“Indiegogo is changing the way people’s dream and passions are funded,” said Slava Rubin, co-founder and CEO of Indiegogo. “We are excited to be working with Insight Venture Partners and Khosla Ventures as we continue to accelerate our business to bring the power of Indiegogo to more people around the world.”
“Crowd funding has the potential to disrupt commerce and increase innovation,” said Vinod Khosla of Khosla Ventures. “We are pleased to collaborate with Indiegogo as they build out a new kind of company that can affect millions of lives.”
“Indiegogo is in a unique position with the growth of crowdfunding being fueled with smart technology to make people's passions a reality,” said Jeff Horing, Co-founder and Managing Director at Insight Venture Partners. “We are excited with the talented team, deep technology and broad customer base that Indiegogo has and look forward to working with them in the future.”
Recently, Indiegogo was invited to join President Barak Obama’s White House signing of the JOBS Act that will expand online crowdfunding from perks-based crowdfunding to include equity investments. On stage with President Obama was Emmy’s Organics, a dessert company from Ithaca, NY that was denied a loan by a local bank before raising $15,000 on Indiegogo. Another case study in the audience included LuminAID, who raised $50,000 to create and distribute a new inflatable solar light to support disaster relief efforts.
Recent projects on the Indiegogo platform include:
- Angry Video Game Nerd mobilized their YouTube following to contribute $325,000 in funding for a hilarious narrative film.
- The world’s first crowdfunded baby- After being denied by their insurance provider, Florida couple raised the $8,000 needed for an IVF treatment that led to the birth of their daughter in April
- Dark Potential – A passionate gamer was able to raise nearly $90,000 (9x their goal) to create the first starter sets for their post-apocalyptic miniature war game.
- Bully – After raising $25,000, this documentary about the bullying crisis in America premiered at Tribeca, and was recently distributed nationally by The Weinstein Company.
- George Clinton – The funkmaster raised $50,000 to save his studio and archive his music.
Indiegogo.com is the leading global platform for crowdfunding that empowers anyone anywhere to raise money for anything. Since 2008, Indiegogo has enabled people to launch funding campaigns in 196 countries – including new businesses, philanthropic causes, health initiatives and creative ideas. Indiegogo is headquartered in San Francisco with offices in Los Angeles and New York. For more information, visit www.indiegogo.com and follow at www.twitter.com/indiegogo and www.facebook.com/indiegogo.