SAN FRANCISCO, March 9, 2011 /PRNewswire/ -- StumbleUpon, a discovery engine, today announced that it has completed a $17 million Series B round of financing. The funding will be used to continue to invest in the company's core discovery technology, expand to new platforms and grow the employee base.
The financing includes investments from Accel Partners, August Capital, DAG Ventures, First Round Capital and Sherpalo Ventures. The previous round of funding was led by Accel Partners, August Capital and Sherpalo Ventures.
"We are excited to have DAG Ventures join our existing investors in this new round of financing," said Garrett Camp, StumbleUpon CEO and co-founder. "With this new investment, we will make it even easier for people to find interesting and relevant content on the Web, whether they are on their desktop, mobile device or even TV."
"StumbleUpon continues to grow quickly and deliver on its ambitious goal of powering personalized content discovery across all media and platforms," said Sameer Gandhi, Partner, Accel Partners. "Content discovery is a significant opportunity, and we are excited to continue to support the leading company in the space."
Since its initial Series A investment in April 2009, StumbleUpon has more than doubled its registered user base to more than 14 million and more than tripled its content recommendations to more than 800 million per month. In addition, the company has surpassed one million installs of its iPhone and Android applications since launching them in August 2010.
StumbleUpon is a discovery engine that recommends the best web and mobile content for each user. With more than 14 million users and 800 million personalized recommendations per month, StumbleUpon is the leading way to discover great, peer-sourced content on the Internet. More than 60,000 marketers have used StumbleUpon to promote their products and services. StumbleUpon is based in San Francisco and backed by some of the same investors behind Google and Facebook. For more information, visit www.StumbleUpon.com.