Indiegogo, a crowfunding service that helped popularize the concept, has raised another $40 million in funding to expand globally and take on the growing number of competitors.
The latest funding round, which was announced early Tuesday morning, was led by Institutional Venture Partners and Kleiner Perkins, and brings Indiegogo's total funding to date to more than $55 million.
See also: Has Kickstarter Lost Its Way?
"We're going to be looking to continue build out what we started from six years ago which is to become the world's open funding platform," Slava Rubin, cofounder and CEO of Indiegogo, told Mashable in a recent interview.
While Indiegogo has run campaigns from 190 countries to date, it only supported English as the language and dollars as the currency until recently. The company added support for euros and pounds in late 2012 and saw 300% year-over-year growth in Europe in 2013. With the new funding, it plans to work to support more languages and currencies.
Indiegogo will also use some of the funds to improve the mobile experience and build out apps for the major platforms like iOS and Android. When asked why Indiegogo hadn't done this already, Rubin said: "We have been taking our time getting customer feedback."
As part of these efforts, Indiegogo will grow its staff from around 85 employees currently to well over 100 by the end of the year, adding engineering and design talent.
While Indiegogo was early to the crowdfunding space, Kickstarter may have better brand recognition. Rubin wouldn't address Kickstarter in particular, but noted that "1,000 competitors have entered the space" since Indiegogo launched. "It just shows it's a huge market opportunity," he added
Kickstarter has benefitted from a number of blockbuster funding successes over the years, including $10 million for the Pebble smartwatch and $8.6 million for the Ouya gaming console.
However, Indiegogo has scored some notable successes in recent months, too. Scanadu, a science fiction-esque medical scanner, raised more than $1.6 million and the service made headlines recently for being one of two crowdfunding platforms used to fund the Jamaican bobsled team's trip to the Winter olympics in Sochi.