Stainless Games turned to Kickstarter in an attempt to raise $400,000 (£257,000). After 30 days, the final tally was $625,143 (£401,629) - 156% of its original target.
The game will now enter development and release on PC and Mac at a later date.
Stainless co-founder Patrick Buckland said: "This result is way beyond our expectations, and shows again how fantastic this crowd funding model can be for the independent developer.
"We're so pleased to have been one of the band of pioneering videogame studios on Kickstarter. It shows what a fantastic opportunity this is for both the indie studios and gamers alike."
It joins games such as Double Fine Adventure and Wasteland 2 in successfully securing public funding.
Announced in June last year, Carmageddon: Reincarnation is a reboot for the over-the-top car combat series that originally sparked controversy in 1997.
Stainless Games is planning an iterative release for Carmageddon: Reincarnation, with the first release scheduled for February 2013 if the Kickstarter goal is met.
> Kickstarter: The future of games funding?
Watch the Carmageddon: Reincarnation Kickstarter pitch video below: