Stack Exchange, Inc. (formerly known as Stack Overflow), a New York City-based creator of community-driven expert Q&A sites, has closed a $12m Series B funding.
The round was led by Index Ventures, with participation from Spark Capital and Union Square Ventures.
The company intends to use the funds to continue to develop its Stack Exchange network, which was launched in August 2010. Stack is also exploring and developing new offerings and revenue streams, such as the recently re-launched Stack Overflow Careers 2.0 job search and recruitment site.
In conjunction with the funding, the company officially changed its name to Stack Exchange, Inc. to better reflect its new strategic focus on developing its network of community-driven expert Q&A sites.
Neil Rimer co-founder and Partner at Index Ventures, and Anil Dash, a blogger, serial entrepreneur and long-time advisor to the company and other start-ups, have has joined Stack Exchange’s Board of Directors.
Bijan Sabet of Spark Capital also joined the Board as an observer.
Founded in 2008 by CEO Joel Spolsky and CTO Jeff Atwood, Stack Exchange is a network of question and answer sites covering a diverse range of topics from software programming and cooking to photography and personal finance. The network has grown from three IT-centric Q&A sites to 45 sites spanning a growing number of topics including cooking, photography, physics, English language and usage, and more. It has nearly 800,000 registered users.