Indiegogo Comes Together As A Crowdfunding Platform Raising $40m To Finance World Expansion

Published Date : Jan 31, 2014

For Slava Rubin money is the key hiring aspect to expand the focus on personalization, mobility, and trust.
Indiegogo - the crowdfunding platform most famous for financing films, Jamaican bobsleigh team, and tech startups has now raised $40m in funding the global expansion. 

This has been the third round of funding that has been raised to more than twice the $15m as to what was raised in 2012. This is followed by two films backed by Indiegogo, Life Itself and Dear White People – the biggest hits at the Sundance film festival. 

According to Rubin, within a year the crowdsourcing for the projects will be witnessed as the standard source of funding. He said, if the 80s were about the desktops, the 90s about the commerce, and the 00s about the social, it is obvious that the next decade is going to be about crowdsourcing, and the company is now close to 1,000 competitors becoming the main lead in position. The crowd is brought to the crowdsourcing, he added. 

Indiegogo\'s involvement in hosting more than 190,000 campaigns in 190 countries happens to be a big achievement since its debut in 2008. 

In the past two years, the companies funds have grown by 1,000% and the company\'s current platform supports its contributions in five currencies namely, Euro, Pound sterling, US dollar, Canadian dollar, and Australian dollar, with four languages such as German, Spanish, English, and French. 

However, the new funding round was led by Kleiner Perkins Caufield & Byers (KPCB) and Institutional Venture Partners (IVP), ff Venture Capital, MHS Capital, and Metamorphic Ventures. This happened with certain extra funding from existing investors Insight Venture Partner whereby, Indiegogo played a major role in the transformation of the global economy, added John Doerr - general partner at KPCB. 

He further commented that he is excited to team up with Indiegogo and support its aspirations and dreams for funding new innovation and ideas. 

Jules Maltz, general partner it IVP also commented that Indiegogo\'s flexible funding model is becoming the market leader in the speedy growing crowdfunding space. Jules commented that, “The Company is the Android of crowdfunding - easily accessible and open to all.”

Earlier in January, Indiegogo managed to raise more than $50,000 so that they could send the Jamaican bobsled team to the Sochi Winter Olympic Games. According to Rubin, there were more than 40 companies at the Consumer Electronics Show in Las Vegas that had been funded by the site.