Wattpad announced in a press release that it has raised $46 million in Series C funding, led by OMERS Ventures with participation from August Capital, Raine Ventures, and Northleaf Venture Catalyst Fund. Wattpad’s existing investors also participated in the round. The company will use the funds to expand their staff in Toronto and move to new office space, along with “support[ing] product development and community growth.” CEO Allen Lau admits to Gigaom they don’t really need the money, and still have much of their previous round of $17.3 million in financing from 2012 on hand. Over half of their users […]
