Following the announcement of its latest funding round, sources at TechCrunch revealed that the crowdfunding platform GoFundMe’s value is now at around the range of $600 to $650 million.
As previously reported, GoFundMe confirmed that it has received some high-profile attention during its round:
“Our mission at GoFundMe is to change the way the world gives. We’ve been thinking about how to best serve as many people as possible while continuing to offer an excellent experience for every single one of our users. We wanted to share this exciting next step with you.
“The GoFundMe Team has decided to accept an investment from some top-notch venture capital and growth equity firms. The investment is being led by Accel and TCV, with participation from Greylock, Meritech Capital, and Stripes Group. Their collective experience building global, world-class companies (like Airbnb, Facebook, Netflix, and Spotify) can help further elevate GoFundMe to its full potential so that even more people can raise money online for the things that matter to them most. This investment will enable GoFundMe to grow the team, enhance product features and functionality, and expand the platform globally.
“To date, millions of GoFundMe campaigns have raised nearly $1.2 billion from millions of donors for things like medical bills, volunteer trips, community service, sports teams, and educational expenses. Community support that once took place at bake sales and spaghetti dinners is now happening online, allowing those in need to receive help more quickly when they need it most.”
The media outlet shared that Iconiq Capital, the firm that manages the personal wealth of executives like Mark Zuckerberg, has also participated in the platform’s funding round. Sources stated the platform was hitting around $100 million in funds raised through campaigns every month. It has seen 300 percent growth year-over-year in the amount of funds it has raised every month.