Imgur, an online image hosting and sharing service, has secured $40m of funding from venture capital firm Andreessen Horowitz in a round that also included an undisclosed investment by internet entertainment and news provider Reddit.
The funding marks the first notable external investment in Imgur, which has become increasingly popular since it was founded in 2009, particularly on Reddit, the website for which Imgur co-founder Alan Schaaf originally developed Imgur as a ‘simple image sharer’. Imgur claims to now have more than 130 million unique visitors each month.
Imgur plans to use the funds to accelerate its internal growth, and to support product development and innovation.
“We’ve been watching Imgur for years, and the way Alan and his team have committed to building for the community is truly impressive,” said Lars Dalgaard, general partner at Andreessen Horowitz. “It’s rare to see a company so committed to preserving an excellent user experience, and it’s no accident that this community has flourished. We hope to provide resources and guidance to help Imgur continue down this path, with the freedom to do even more to accelerate product innovation and community growth.”