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San Francisco-based crowdfunding platform Indiegogo just closed a $15 million funding round led by Insight Venture Partners and Khosla Ventures. Existing Indiegogo investors Metamorphic Ventures, MHS Capital, ?ffVenture Capital, and Zynga co-founder Steve Schoettler also participated in the round, which serves as the company’s Series A and marks the largest funding round in crowdfunding history.
Indiegogo, which aims to separate itself from the dominant Kickstarter, is a prime candidate to enter the equity-based crowdfunding ecosystem. Indiegogo co-founder and CEO Slava Rubin, who attended President Obama’s JOBS Act signing at the White House, recently told TechCrunch he is “excited” by the bill’s crowdfunding exemption, which is scheduled to go into effect in early 2013.
Since the company’s January 2008 launch, Indiegogo has hosted more than 100,000 campaigns spanning 196 countries. In stark contrast to Indiegogo’s regional diversity, Kickstarter is focused solely on creative projects in the United States.
In another divergence from Kickstarter’s model, which adheres strictly to an “all or nothing” philosophy, Indiegogo gives project creators the chance to spring for “flexible funding.” If a campaign creator chooses this option and his campaign doesn’t reach its funding goal, he still gets to keep whatever people pledge — though, in this case, the associated fee jumps from four percent to nine percent.
Until today, Indiegogo’s only outside funding consisted of a $1.5 million seed round raised in September 2011. At that time, the company had five employees. Today, that number is at 20 and growing.
“Indiegogo is changing the way people’s dream and passions are funded,” said Indiegogo CEO Slava Rubin. “We are excited to be working with Insight Venture Partners and Khosla Ventures as we continue to accelerate our business to bring the power of Indiegogo to more people around the world.”