Venture Capital firm Andreessen Horowitz led “a $15M Series A investment” into FiftyThree, the company that created the bestselling Paper iPad app.
Investor Chris Dixon explained in a blog post:
Paper has been embraced by millions of everyday creators, and has won dozens of awards (including Apple’s App of the Year). It is also one of the top grossing iPad productivity apps ever. But this is only the beginning of FiftyThree’s ambitious plans … FiftyThree didn’t need to raise money, but decided that the opportunity was so large that it made sense to accelerate their efforts with additional capital and resources. They’ll be expanding their engineering teams in New York and Seattle, and will broaden their offerings across software, services, and hardware.