IndieGoGo helps passionate people and projects get funding, but maybe it felt a little left out. The company announced today its own $1.5 million round of funding.
IndieGoGo allows anyone with a passion to create a pitch and hope for money, in a time when belts are tight as are bank accounts. All industries can apply including technology projects, theater, film, fashion, art, food, health and more. Funding seekers can opt out of a fixed funding plan and take any amount, even if it does not reach their original goal. IndieGoGo makes its money by charging a 4 percent fee on the total money raised, or a 9 percent fee on a round that did not reach a set target.
Competitors like Kickstarter have a broader reputation, but perform on an “all or nothing” basis. That is, Kickstarter doesn’t allow a funding request to go through if it does not meet the time and money goals. In order to set itself apart, IndieGoGo has also partnered with the Startup America Partnership and Fractured Atlas, a non profit helping artists, which used IndieGoGo to raise over $1 million in financing.
The company’s funding comes from MHS Capital and Zynga co-founder Steve Schoettler. IndieGoGo plans to use the funding to enhance its website experience as well as give consumers, partners and media more access to its analytics.
IndieGoGo was founded in 2008 and is headquartered in San Francisco, Calif. All intellectual properties remain in the hands of the project creators.