DesignCrowd hits $30M in projects

Sydney, Australia 16 October, 2015 : Crowdsourcing marketplace DesignCrowd has today hit $30 million in projects through its design platform.

The milestone reflects the continued growth for the Sydney based company which has expanded internationally in the last 12 months after securing $6 million in Series B capital raising earlier this year.

“Hitting $30 million is an exciting milestone for DesignCrowd and reflects the strong growth we’ve continued to experience. We’re now approaching $20 million in annual revenue and our designer base has grown 120% in the last year. Our top designer has earned almost $1 million on the platform,” said Alec Lynch, Founder and CEO of DesignCrowd.

Lynch said the company’s $6m Series B from AirTree Ventures and Starfish Ventures earlier this year had helped propel its international expansion and allowed for greater investment in its product.

“The capital we raised earlier this year has allowed us to pour more fuel on the fire. We’ve grown our team to 47 people across three countries including the US and the Philippines and we continue to scale our business outside of Australia. We’ve doubled our engineering team and added design categories in the last 12 months, which are now bringing in more than 10% of our revenues.”

DesignCrowd’s main growth in 2015 has been in the US, now constituting 50% of revenues. Europe is not far behind with a year on year growth of 40% in Switzerland, 35% in Germany, 22% in the Netherlands and 20% in the UK.

The online service disrupts the global design industry estimated to be worth $54 billion globally by providing customers with access to a vast global community of almost 500,000 creatives and designers through crowdsourcing.

About DesignCrowd:

DesignCrowd is a crowdsourcing marketplace where graphic designers complete a range of jobs, like logo, website and business card design, for businesses around the world. DesignCrowd has a community of almost 500,000 people, spanning 165 countries. The average project cost is 50% less than an agency, and customers receive designs within hours with the choice of over 100 different designs.

Since launching in 2008, DesignCrowd has raised more than $12 million in funding. In February this year the crowdsourcing marketplace took on $6 million in funding, from AirTree Ventures and Starfish Ventures.

DesignCrowd is based in Surry Hills, and has offices in Manila, Philippines, and San Francisco, USA.