Quirky Secures $6 Million in Series A Funding

Apr 08, 2010

Quirky, a company that collaboratively designs consumer products and shares revenue with its online community, has raised $6 million in Series A capital.? Quirky's Series A funding round was led by RRE Ventures and included participation from Village Ventures, Contour Venture Partners, Lowercase Capital, and a small group of angel investors. Prior to the closing of this round, Quirky had raised $1.6 million in seed capital from friends and family.

Mitch Lowe, former founder and CEO of Jumpstart Automotive Media, will join as Executive Chairman of the Board of Directors and maintain an active role in Quirky's day-to-day operations. James D. Robinson IV of RRE Ventures will also take a seat on the Board of Directors.

Quirky is a social product development company founded in June 2009. It engages its online community of more than 20,000 individuals from around the world to collaborate in every aspect of a product's creation-from ideation, design, naming and marketing, right on through to sales. The final product becomes available for pre-sale in Quirky's online store and goes into production and becomes available worldwide if it reaches a certain sales threshold, it. Quirky then shares its product-based revenue with all the community members that positively influenced the product.