DesignCrowd raises $10 million AUD to grow its DIY platform, BrandCrowd
DesignCrowd announced today it has raised $10 million AUD (about $7.6 billion USD) in pre-IPO funding. The capital will be used on hiring and product development, with the goal of accelerating the growth of BrandCrowd, its DIY platform.
The new funding comes as DesignCrowd gets ready for a potential initial public offering on the Australian Securities Exchange. The round’s investors include Perennial Value Management, Alium Capital, Ellerston Capital, Regal Funds Management and CVC, along with returning backers Starfish Ventures and AirTree Ventures. DesignCrowd has now raised more than $22 million AUD in total.