Massdrop Raises $40M in Series B

What does Massdrop do?

Massdrop, is the leading community for enthusiasts. It is a building online community for enthusiasts. This online community for enthusiasts provides people across many communities from electronics and audio to quilting and cooking, a place for connecting with each other, discussing their activities and products, and buy these products together.

How much Massdrop was funded?

Massdrop raised  $40M in Series B funding on August 13, 2015from the investors August Capital (Lead), First Round, Cowboy Ventures and Mayfield Fund

Previous funding

• $1.4Min Seed round on September 1, 2013 from Cowboy Ventures Partner: Aileen Lee, Kleiner Perkins Caufield & Byers Partner: Aileen Lee and First Round
• $6.5M in Series A funding on September 24, 2014 from Mayfield Fund(Lead) Partner: Tim Chang, First Round, Cowboy Ventures Partner: Aileen Lee, Rick Marini, Kleiner Perkins Caufield & Byers Partner: Aileen Lee

What is next for Massdrop?

Massdrop’s user base has grown 7 times since the past year, now reaching more than million users while they continue expanding their community. The online forum market represents more than 400 M people globally. Earlier these groups gathered online forums which had no right features and tools, but now the company is taking a different approach with the creation of an outlet for these highly engaged communities and empowering them for connecting in plenty of other ways like designing products by themselves and purchasing together.

The company plans to focus on community above everything else and the latest funds will be used for helping the company grow and scale its platform. David Hornik, August Capital’s General Partner will be joining the Board of Directors of Massdrop as a part of the funding.
More about Massdrop

The company was founded on July 1, 2012 by Steve El-Hage and Nelson Wu. It has its headquarters in San Francisco, California.