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

Posted by Knowlton Thomas

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 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

Great stories bring people together! Wattpad is the world's largest community for discovering and sharing stories. It's a new form of entertainment connecting readers and writers through storytelling, and best of all, it's entirely free. With thousands of new stories added every day, an incredibly active community of readers, and the ability to read on your computer, phone, or tablet, Wattpad is the only place... more

Company:
Golden Venture Partners
Website:
http://www.goldenvp.com
Location:
Toronto, Ontario, Canada

Golden Venture Partners is a mobile focused seed and early stage venture capital fund based in Toronto. We provide early stage funding and mentorship to young companies that leverage the massive potential of mobile products and services. Golden Venture Partners was created as a response to the unparalleled growth in the mobile marketplace and the dramatic changes in how companies are created, financed and... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. 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 tennis, hiking, and exploring weird side streets. more



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