Funding Fun

With New B Corp. Certification, Etsy Raises $40M for International Growth

Imagine how many handcrafted hair bows $40 million can help distribute.
 With New B Corp. Certification, Etsy Raises $40M for International Growth

Mr. Dickerson (flickr.com/eschipul)

DIY-ers, you may now begin crocheting celebratory pillows and other yarn finery: E-commerce site Etsy, also known as Amazon for Twee People, announced today that it has raised a $40 million Series F round from investors, including Union Square Ventures and Accel Partners.

In a lengthy blog post, Etsy CEO Chad Dickerson strayed from the typical tech funding announcement, instead choosing to first focus on Etsy’s growth and continued commitment to making the world a better place through business. The DUMBO-based startup has scored a B Corporation certification, which “gives [them] a framework to measure Etsy’s success against rigorous values and responsible practices as [they] scale as a company.”

The B Corporation certification is basically a commitment to doing good by doing well, which is a smart PR move, considering Etsy’s artisan demographic.

Mr. Dickerson also writes that this $40M capital injection will help “grow Etsy into an economic force all around the world… we want to provide more products and services to help sellers succeed and build their businesses on the Etsy platform.”

Perhaps it can also go towards helping to solve that wedding redesign flap.

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