Germany-based media group Hubert Burda Media has helped Etsy, an e-commerce website for crafts, raise $40m.
Huert Burda was joined in the round by venture firms Union Square Ventures, Accel Partners, and Index Ventures.
In 2010 Etsy raised $20m in series E financing, according to news provider TechCrunch. TechCrunch said Etsy’s previous round had raised $27m in 2008. Before this Etsy had raised $4.6m. Early angel backers of Etsy included Caterina Fake, Stewart Butterfield, Joshua Schachter, and Albert Wenger.
In 2011 $525m of transactions were made on Etsy. It was founded in 2005.