Prettiest girl at the crowdfunding dance, raises an $830k seed round

By Michael Carney , written on November 1, 2012

From The News Desk

Combine two of the most sought after business model trends of the moment and wait for investors to beat a path to your door. This strategy seems to be working well for Los Angeles crowdfunding platform-as-a-service (PaaS) startup, which today announced $830,000 in seed financing.

Launched earlier this spring as an inaugural graduate of the Venice Beach technology accelerator Amplify LA, offers white label crowdfunding technology to anyone looking to create and manage grassroots fundraising campaigns.

The young start has become the leading fundraising platform in the non-profit space according to Global Philanthropy Group (GPG) co-founder Trevor Neilson. The two organizations recently worked together to launch Avril Lavigne’s “The Rockstar Room” philanthropic portal. Lavigne and GPG are not the only prominent names in the space to choose, as the company has worked with the UN’s GirlUp Foundation and others as well.

Beyond philanthropy, powers those portals whishing to crowdfund for-profit companies and commercial projects. Recently, the company partnered with third-generation silicon valley VC Adam Draper to do just that with the launch of an equity crowdfunding portal for startups, Boost Funder. didn’t crowdfund its own seed round as co-founder and CEO Alon Goren once suggested was a possibility, however the company certainly spreat it around a large number of high profile angel investors. The financing was led by Kamran Pourzanjani of PriceGrabber and Bestcovery success, with additional participation from Siemer Ventures, Canyon Creek Capital, Karlin Ventures, Gordon Crawford, David Carter, Mark Schwartz, Michael Liou, Chairul Irawan, Chris Grey, Steven Roussey, Alan Stern, Irv Weintraub, Steve Reich, Mark Kolokotrones, Brad Schwartz, Terry Kay, Tom Kolokotrones, and existing investor, Amplify LA.

The company has been a hot ticket around LA for months, as it’s one of the only in the industry that’s found a way to generate revenue today from the unbelievably trendy, but perpetually-delayed JOBS Act. Rather than developing a crowdfunding portal itself and waiting for the regulatory green light, an unenviable position in which many startups currently find themselves, elected architect an enterprise-grade PaaS solution to be the backbone of dozens of such portals.

As Goren told me previously, his company’s goal “has always been to partner with the foremost expert in each potential crowdfunding vertical.” Seems like a wise strategy given the company's early success.