More Funding for Crowdfunding: IndieGoGo Raises $1.5 Million

Published on September 7, 2011
by Peter Kafka

Another vote of confidence for start-ups that depend on crowdsourcing: IndieGoGo, which helps artists, entrepreneurs and others raise money for their projects via its online platform, has raised $1.5 million.

Metamorphic Ventures led the round, joined by Steve Schoettler, a Zynga vice president who was one of the gaming company’s founding members.

IndieGoGo’s model seems to be directly parallel to the one championed by¬†Kickstarter, the very buzzy crowdfunding site that has raised about $10 million itself. But presumably there’s room for more than one of these funding sites — the Web is a very big place.

If you do want to compare and contrast: IndieGoGo, founded in 2008, says its users have “raised millions of dollars” for 40,000 campaigns. Earlier this summer, Kickstarter said its users had contributed $60 million to 10,000 successful projects over its three-year life.

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