Massdrop, a San Francisco, CA-based community for enthusiasts with different passions, raised $40M in Series B funding.
The round was led by August Capital with participation from First Round Capital, Mayfield Fund, and Cowboy Ventures. In conjunction with the funding, David Hornik, General Partner of August Capital, also be joining Massdrop’s Board of Directors.
The company intends to use the funds to grow and scale the platform.
Led by Steve El-Hage, CEO and Founder, Massdrop is building a community for enthusiasts. Already present in 11 different categories, the company is looking to expand rapidly into a number of new categories over the next year while also adding in new features to the site including new discussion features and ways to promote user content.
To this end, Massdrop is looking to expand its current team of 70 with engineers, developers, community managers and executives.