Qwiki Raises, Like, $1 Million More
Additional Series A Investment from Groupon Co-Founders Brings Total Raise to $10.5 Million
SAN FRANCISCO, March 31, 2011 /PRNewswire/ -- Qwiki, Inc. announced today that it has raised an additional $1 million in financing from Lightbank, the investment fund of Groupon co-founders Brad Keywell and Eric Lefkofsky. This brings the company's total amount raised to $10.5 million.
Qwiki CEO and Founder, Doug Imbruce, says, "We are obviously excited to work with Eric and Brad. They have invaluable experience in building large-scale consumer facing Internet companies and the ability to accelerate Qwiki's product roadmap. In seeking to surround Qwiki with results oriented investors, Lightbank is a perfect fit."
Brad Keywell, Co-Founder of Lightbank, says, "Doug and the Qwiki team are solving a real problem with a technically innovative and scalable solution that applies to multiple verticals. We are looking forward to working with them as they accelerate the expansion of their business."
Qwiki's prior $9.5 million in funding was led by Eduardo Saverin (co-founder, Facebook), and includes Jawed Karim (co-founder, Youtube), Pradeep Sindhu (co-founder, Juniper Networks), Bobby Yazdani, Lerer Media Ventures, Tugboat Ventures, and Contour Venture Partners.
About Qwiki, Inc.
Qwiki was co-founded by entrepreneur Doug Imbruce and Internet industry pioneer Dr. Louis Monier (founder of AltaVista). The company's technology transforms data into interactive, rich-media narratives, delivering an "information experience." Qwiki debuted in September 2010 at the TechCrunch Disrupt Conference, where it won the TechCrunch Disrupt Cup. The company has raised a total of $10.5 million in funding to date. To learn more, please visit www.qwiki.com. Twitter: @Qwiki. Facebook: http://qwi.ki/fITVSS.
Lightbank is a Chicago-based fund focused on early-stage technology companies. Founded by Eric Lefkofsky and Brad Keywell, who founded Groupon, MediaBank, InnerWorkings and Echo Global Logistics, Lightbank invests money, time and expertise to help innovative businesses achieve dynamic growth. For more information, visit http://www.lightbank.com.
SOURCE Qwiki, Inc.
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