San Francisco based crowdfunding site Indiegogo has raised $40 million in Series B venture funding. from IVP and Kelin Perkins. Previous funding rounds had netter the startup $16.5 million. More than 190,000 campaigns have been launched on the site, which is run by a team of 85. The new funds are earmarked for expansion.
To push ahead of competitors like Kickstarter and the more specialized PledgeMusic, Indiegogo will use the funds to start "making key hires, expanding globally and improving the user experience with a focus on mobile, personalization and trust,” according to a statement.
“We’re committed to making Indiegogo the world’s funding engine and giving people access to capital worldwide,” said Slava Rubin, founder and chief executive of Indiegogo. “With IVP’s and KPCB’s support, we can rapidly take critical steps to helping more and more people fund what matters to them.”