WordPress Plugin CoSchedule Secures $500K In Funding

CoSchedule, the editorial workflow and activity scheduling plugin, has secured $500K in a Series A round of funding. The angel investment was led by Sandin Holdings and Bullinger Enterprises of Fargo, North Dakota. Matching funds were provided by the North Dakota Development Fund. Joe Sandin of Sandin Holdings will join CoSchedule’s Board of Directors, providing strategic guidance and business advice.

When I reviewed the plugin last year, I considered it to be a viable alternative to Edit Flow. CoSchedule will use the money to hire more employees, increase their marketing budget, and increase the speed of development so new features reach users faster.

Moon says the company has experienced rapid growth since launching in September of 2013. Since the launch, the plugin has over 6,000 downloads with users in more than 100 countries and paying customers in 35 countries. I asked Moon, what advice does he have for those looking to obtain a round of funding to take their business or service to the next level? He replied:

I think a lot of developers hesitate to look for funding for their work because the process is overwhelming and unfamiliar to them. I will definitely admit that it is a ton of work, but it can be hugely valuable. Not only can you get the financing you need to move to the next level, but it really forces you to look at your product in a new way and challenge every assumption that you’ve made. Investors ask hard questions, and that can be a really good thing.

Do you use CoSchedule? If so, what do you think of its editorial workflow and how it handles multiple authors?