Toronto's Wattpad raises $3.5 million in Series A funding round

Posted by Knowlton Thomas on 2011-09-12 12:01:00 AM

Wattpad has successfully completed a new round of funding.

The Toronto-based startup, which offers a new way for readers to discover and participate in the creation of stories, has raised $3.5 million in a Series A round. Investors include Union Square Ventures, Golden Venture Partners, W Media Ventures (an investor in Techvibes) and investors from last Wattpad's round. Wattpad is Golden's first investment.

The additional capital will enable Wattpad to "move a whole lot quicker." The company plans to hire more people and further develop its ideas, including enhancing its mobile presence.

Wattpad saw its one millionth user sign up this summer and also launched its Android and iOS apps. 

Company:
Wattpad
Website:
http://www.wattpad.com
Location:
Toronto, Ontario, Canada

Wattpad is the best way to discover and share stories with friends. On Wattpad you’ll discover a new form of entertainment where you can interact and share stories across text, video, images and through conversations with other readers and writers. Wattpad stories are always available everywhere. Discover new stories, connect with readers and writers and create your own on wattpad.com and through Wattpad apps for... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the Associate Editor of Techvibes. A Vancouver-based writer and author, Knowlton has been published in national publications and has also appeared on television and radio. He has written two ebooks and more are in the works. Previously, he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing... more

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