Crowdfunding platform Crowdtilt wasn’t looking to raise another round, but when their Series A lead investor Andreessen Horowitz offered to lead their B round, the team decided it would make sense given their forthcoming plans. Today, the company is announcing another $23 million in new funding, which also includes participation from SV Angel, Sean Parker, and others.
Founded in early 2012, Crowdtilt has already raised $14 million through its seed and Series A rounds. The company, to some extent, competes with sites like Kickstarter or Indiegogo, for example, but found a niche for itself in helping everyday users crowdfund smaller projects, often with a more community-oriented nature.
For example, CEO James Beshara says some of his favorites include the one where Rockridge city residents self-funded their own private security in the wake of police force cuts; or another where people raised money for Boston resident David Henneberry, whose boat was damaged in the manhunt for the Boston Bombing suspects; and then there’s the one where a Dallas resident raised over $50,000 to throw a private Teenage Mutant Ninja Turtles fan party. (Yeah, okay…).
“There’s 85% of the population that won’t have a documentary, an artistic project or a hardware project to crowdfund, but they’re going to have an objective that they do want to send around to their friends and their network,” says Beshara. “That’s where Crowdtilt was born.”
View the Original article
0 comments:
Post a Comment