Etsy Craftily Raises $27 Million

etsy card.jpgEtsy, the Brooklyn-based online craft/handmade goods marketplace, has just received a $27 million cash infusion. According to a report today from VentureBeat, the funding round was led by Accel Partners, the Silicon Valley- and London-based venture capital firm that has stakes in such companies as Facebook, Brightcove, and Iron Planet (which happens to be an online marketplace for used construction equipment–we smell synergy!). The company’s previous funding totaled $5 million.

Founded in 2005 by Rob Kalin, Etsy now has 50 employees, approximately 650,000 members, and a marketplace with over 120,000 sellers in 127 different countries, according to a note Kalin posted yesterday to the Etsy community. He says that the company will use the $27 million for such expansion initiatives as adding new currency and language capabilities to the site, improving the checkout process, and upgrading the company’s infrastructure. And who knows, perhaps they’ll splurge on some Etsy wares for the office–may we suggest a few dozen “All That Jazzberry” strawberry cupcakes ($6.50 each), some Rocket Man Spaceship Hairpins ($5.00 a pair), or a bunch of Fairy Cake Jellyfish Pocket Mirrors ($6.00 each)?

Meanwhile, Kalin thinks the best way to show people what Etsy is all about is via the children’s book Swimmy, by Leo Leonni, (which we would pay good money to see him read to a roomful of Silicon Valley VCs). Below, a video of Kalin reading Swimmy, complete with a shimmer of Reading Rainbow theme music to set the tone.