Wattpad, a Toronto, Canada-based community of readers and writers, raised $46m in Series C funding.
The round was led by Omers Ventures with participation from August Capital, Raine Ventures, and Northleaf Venture Catalyst Fund and existing investors Union Square Ventures, Khosla Ventures, Jerry Yang of AME Cloud Ventures, Golden Venture Partners, and Boris Wertz of Version One Ventures.
The company intends to use the funds to expand its Toronto team, develop the product and grow the community.
Led by Allen Lau, CEO and co-founder, Wattpad is a social platform to create direct connections between readers and writers on a massive scale. It allows readers to access free stories from any mobile device or computer, as well as interact with writers.
Wattpad stories are available in more than 50 languages.