Starfish invests another $2.8m in Australia's DesignCrowd
Crowdsourced design marketplace DesignCrowd (DC) has raised another A$3 million ($2.8 million) from Starfish Ventures to expand into new markets.
The company's marketplace provides access to more than 148,000 freelance graphic designers and design studios around the world for logo, website, print and graphic design services.
It was founded in 2008 and received A$300,000 from angel investors the following year before Starfish provided A$3 million in funding in 2011.
DC has grown revenues by more than 500% over the last year and launched in eight countries, including Singapore, the Philippines, India, UK, Canada and the US. The new capital will be used to open offices and build teams in the US, UK and Canada.
"The US market is at the top of our list of priorities. It has become our biggest source of sales despite not having an office or any employees there. We'll open an office and build our team in the US in the next 12 months," Founder and CEO Alec Lynch said in a statement.
DC will also explore new markets including Europe, South America and Asia and invest further in new products and features.
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