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Canadian comic app Bitstrips raising $15M in Series B funding
Bitstrips, a mobile app that lets users make their own personalized comic strips, is in the process of raising $15 million in Series B funding. According to sources familiar with the situation, Kleiner Perkins Caufield & Byers is leading the round, wrote TechCrunch.
The fundraising has not yet been completed, so the exact amount is not confirmed. However, a $15-million round would bring the company's total raised capital to $18 million, the report detailed.
Launched in October 2013, Bitstrips hit the top spot for free apps in the Apple store after two weeks. The service lets users design an avatar of themselves with the help of a composer with pre-set situations. Once the comic strip is completed, users can share it on Facebook, and can even develop avatars for their Facebook friends, the report explained.
In the past few months, the number of Bitstrips users has exploded. To address scaling and growth issues, Bitstrips is raising a significantly larger sum compared to its $3-million Series A in December, TechCrunch reported.