Indiegogo raises $40M to expand its crowdfunding business

Crowdfunding platform Indiegogo has raised $40 million in a new round of funding, with plans to expand its business globally, and put a larger focus on its mobile platform. Indiegogo CEO Slava Rubin said in a statement, as reported by IBTimes, that he hopes to raise the funding engine's profile worldwide with this cash injection. Previously, the website has raised a total investment of $16.5 million, meaning this new round of funding from led by Institutional Venture Partners and Kleiner Perkins Caufield & Byers has more than doubled the company's funding since it launched in 2008. Indiegogo was keen to note that funds raised via crowdfunding projects on the site have grown by more than 1000 percent in the last two years. The company currently has 85 employees across three offices. Most recently, Indiegogo has formed a partnership with Square Enix to aid the latter's Collective curated publishing platform.