Wattpad Announces New Funding Round led by Union Square Ventures
This summer was an incredibly busy one at Wattpad, and today we’re really excited to write that we’ve completed our latest round of funding.
Read more About Wattpad at our New About Us Page
Our $3.5M Series A round is led by Union Square Ventures with W Media Ventures, Golden Venture Partners as well as our current investors who are also joining us in this round.
We’re extremely excited to be working with our investors and thrilled to be one of Union Square’s few investments outside of the US, with Albert Wenger joining our board.
W Media Venture is led by CEO and Founder Boris Wertz, whose past leadership role at AbeBooks will be an invaluable asset to Wattpad’s accelerated growth.
Golden Venture Partners, founded by Matt Golden, is a new mobile focused seed and early stage venture capital fund based in Toronto and we are very excited to be their inaugural investment. Having our current investors, Bert Amato, Harvey Beck and Alan Levine double down on us is a huge vote of confidence.
So what does this investment mean? The additional capital will allow us to move a whole lot quicker. We can hire more great people to create an even stronger mobile presence and user experience and start working on some of the amazing ideas we can’t wait to show you. We think we’re in a great position to fully take advantage of the growing number of mobile users, social networks, the rise in eReading, the global Internet and cloud services to continue to build Wattpad into the best platform.
This summer, not only did we expand our team, we saw our 1 Millionth user sign up and watched our Android and iOS apps help make mobile the most popular way to access Wattpad. We’re proud of what we’ve accomplished so far and are looking forward to continuing to build Wattpad into the best place to share and discover stories.
SEE OUR JULY INFOGRAPHIC HERE
Allen Lau and Ivan Yuen
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