Crowdsouring website DesignCrowd has hit $30 million in projects through its design platform, a virtual studio for almost 500,000 creatives and graphic designers across 165 countries.
In just a year the Sydney-based business has grown designer payments by 50%, from $20 million last year to $30 million now.
This follows the company’s recent international expansion after securing $6 million in a Series B capital raise from AirTree Ventures and Starfish Ventures earlier in the year.
Founder and CEO Alec Lynch says the milestone reflects the strong growth the business is experiencing and that the $6 million funding allowed for greater investment in its design offering.
“We’re now approaching $20 million in annual revenue and our designer base has grown 120% in the last year. Our top designer has earned almost $1 million on the platform,” he said.
“The capital we raised earlier this year has allowed us to pour more fuel on the fire. We’ve grown our team to 47 people across three countries including the US and the Philippines and we continue to scale our business outside of Australia. We’ve doubled our engineering team and added design categories in the last 12 months, which are now bringing in more than 10% of our revenues.”
The most growth the company has experience this year has been in the US, now constituting 50% of revenues. Europe is also a strong region for the business, experiencing year-on-year growth of 40% in Switzerland, 35% in Germany, 22% in the Netherlands and 20% in the UK.
As part of its global growth strategy, in August the company introduced a translation tool to make it easier for designers in non-English speaking countries to understand briefs.
Since launching in 2008, DesignCrowd has raised more than $12 million.
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