Los Angeles Business Journal

Crowdfunder Raises $1 Million More For Seed Round

By Justin Yang Thursday, February 6, 2014

Venice crowdfunding platform Crowdfunder announced Thursday it raised $1 million in its most recent round of seed financing. Participants in the round were mostly angel investors, including Good Worldwide's chief executive Ben Goldhirsh.

Chief Executive Chance Barnett said he plans to use the money for its international expansion efforts. Crowdfunder, which has received $2 million in funding to date, is establishing a presence in Mexico and other Latin American countries.

“This round will help accelerate our growth as the broad leader for investment crowdfunding in the U.S. with deals closed across multiple verticals – startups, social enterprises and small business – and help speed our international expansion in Mexico, Latin America and beyond,” he said in a statement.

Crowdfunder has benefited from passage of the Jobs Act, which allows privately held companies to publicly advertise for fundraising. The Act was passed in late September, and Crowdfunder said 13 investment rounds have been conducted through the platform with an average investment of $1.2 million.