Online marketplace DaWanda has secured a eight-figure sum of new funding from New York’s Insight Venture Partners, with the new investor taking a 35 per cent stake.
Last December, DaWanda raised 4 million euros from existing investor Piton Capital and newcomer Vorwerk, who joined fellow investors Piton, Holtzbrinck Ventures, Team Europe, the European Founders Fund and Point Nine Capital.
Vorwerk Ventures is the only investor not to have surrendered some stake in the company to Insight Venture Partners, according to media reports – though DaWanda’s press release yesterday states all remain committed to the company. Insight is now the largest shareholder, with co-founders Claudia Helming (pictured) and Michael Pütz retaining 14 per cent each.
As part of the deal, Insight vice president Brad Twohig will join DaWanda’s board of directors.
Insight – replacing previous Berlin stock?
Founded in New York in 1995, Insight Venture Partners focuses on expansion and late stage investments in the global software, internet and data services industries. Insight’s website lists about 70 active portfolio companies, of which only 11 are in Europe.
Other active investments in Insight’s 33-strong internet portfolio include Twitter, Tumblr, Zumba Fitness and Germany’s Trivago. Berlin startup DailyDeals.de, acquired by Google in September 2011, is listed as a former portfolio company.
DaWanda prepares to open Paris branch
DaWanda, which started up in 2006 in Berlin, now numbers about 90 employees, about 130,000 producers and about 1.7 million registered users. Yesterday’s press release states DaWanda is preparing to open an office in Paris, with other locations to follow this year.
Meanwhile, fellow online “handmade” marketplace Etsy, which started up with a similar concept in the US in mid-2005, also now has an office in Berlin.
READ MORE Berlin’s biggest financing rounds in 2011 – including DaWanda’s December round (Jan 2012) VIDEO – A wander into DaWanda (Dec 2011)