Crowdfunding Site And Kickstarter Rival Indiegogo Raises $US40 Million

Things cost money that you don’t always have. Indiegogo is a platform that lets you raise money for creative pursuits a la Kickstarter, and today it raised a $US40 million series B fund led by Institutional Venture Partners and Kleiner Perkins.

From the announcement:

Indiegogo, the first and largest global crowdfunding platform, announced today that it has raised $US40 million in Series B funding. The financing will be used to continue making key hires, expand globally and improve the user experience with a focus on mobile, personalisation and trust. The round is led by Institutional Venture Partners (IVP) and Kleiner Perkins Caufield & Byers (KPCB), with additional funding from existing investors Insight Venture Partners, MHS Capital, Metamorphic Ventures and ff Venture Capital.

Indiegogo is most readily compared to Kickstarter with one major difference — Indiegogo lets you keep whatever money you raise while Kickstarter requires you to meet or clear your goal before you see one cent.

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