Indiegogo, Crowdfunding Rival to Kickstarter, Raises $40 Million

Indiegogo, Crowdfunding Rival Kickstarter, Raises $40

Indiegogo, a crowdfunding startup that competes with Kickstarter and others, announced that it has raised $40 million in second-round funding, led by venture-capital firms Institutional Venture Partners and Kleiner Perkins Caufield & Byers.

Indiegogo attracts tech entrepreneurs, filmmakers and other creators seeking to fund specific projects. Two pics funded through Indiegogo — Justin Simien’s comedy “Dear White People” and Roger Ebert documentary “Life Itself” — were screened at the Sundance Film Festival this month.

SEE ALSO: Will Crowdfunding Transform Showbiz?

Indiegogo said it will use the new funding to expand mobile efforts and widen its global reach. The funding brings the San Francisco-based startup to $56.5 million raised to date. Additional investors include Insight Venture Partners, MHS Capital, Metamorphic Ventures and FF Venture Capital.

“We’re committed to making Indiegogo the world’s funding engine and giving people access to capital worldwide. With IVP and KPCB’s support, we can rapidly take critical steps to helping more and more people fund what matters to them,” Indiegogo founder and CEO Slava Rubin said in a statement.

On the international front, Indiegogo’s platform supports contributions in five currencies: U.S. dollars, Canadian dollars, euros, pounds sterling and Australian dollars. The service supports four languages (English, German, French and Spanish).

To date, according to Indiegogo, users in 190 countries have launched 190,000 campaigns. The company was founded in January 2008.

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