Wattpad Raises $46M From OMERS Ventures And Others To Grow Its Social Publishing Network

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Social writing platform and writer’s network Wattpad has been at it for a while now, and they’ve quietly amassed a massive user base that engages regularly with the site, posting their own stories and reading the stories of others, all the while engaging with one another through feedback, criticism and support. Now, the startup has raised a Series C round of funding worth $46 million, led by OMERS Ventures, and including August Capital, Raine Ventures and Northleaf Venture Catalyst Fund, and all of the company’s existing investors

TechCrunch

Social writing platform and writer’s network Wattpad has been at it for a while now, and they’ve quietly amassed a massive user base that engages regularly with the site, posting their own stories and reading the stories of others, all the while engaging with one another through feedback, criticism and support. Now, the startup has raised a Series C round of funding worth $46 million, led by OMERS Ventures, and including August Capital, Raine Ventures and Northleaf Venture Catalyst Fund, and all of the company’s existing investors.

Wattpad has around 25 million monthly active users on its network, according to CEO and founder Allen Lau, which is up from just six or seven million around the last time they raised funding, a $17.3 million Series B back in June 2012. Lau is maybe more excited by the site’s progress in terms of engagement, which they measure by time spent on…

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