May 3rd, 2011
One million more reasons to love COLOURlovers: $1 million in funding
You remember COLOURlovers, right? Remember? They’re the Portland startup that left for the Bay, got picked as a Y Combinator company, and is currently in the midst of renewing their relationship with Portland?
Well, you might have noticed that they’re doing a little hiring here in Portland. And that might make folks wonder how they were planning to pay those folks. The answer was revealed today: COLOURlovers just secured $1 million in funding.
According to TechCrunch, the round was composed of investments from a number of folks—including some well know Web types like the cofounder of Reddit and the guy who created WordPress.
COLOURlovers has raised $1 million from investors including Atlas Venture, Morado Ventures, Founder Collective, Charles River Ventures, 500 Startups, Seraph Group & Zelkova Ventures, Matt Mullenweg, Alexis Ohanian, Don Hutchinson, Dharmesh Shah, Jared Friedman, and Shawn Bercuson.
And here’s something interesting… COLOURlovers used Angel List to build the round. How cool is that?
The company is already turning a profit. And according to reports, stands to record at least half a million dollars in revenue this year.