San Francisco-based crowdfunding platform Crowdtilt has raised $23 million in a Series B round led byAndreessen Horowitz with participation from SV Angel, DCM, Felicis Ventures, and a number of angels includingSean Parker, Naval Ravikant, Matt Mullenweg, and Alexis Ohanian. Similar to Kickstarter or Indiegogo, Crowdtilt differs in its goal to help everyday users crowdfund smaller, more community-oriented projects. Founded in 2012, Crowdtilt has raised $37 million in funding to date and will put the latest capital toward building out enterprise tools and planning for international expansion.
BY Liz Gannes By now, millions of people have contributed to crowdfunding campaigns online — to fund the distribution of an independent film, to raise money for a family impacted by a natural disaster, to preorder a new gadget. But perhaps what’s next is for millions of people to start their own crowdfunding campaigns.
Only so many people have a $40,000 documentary they want to get funded,” says Crowdtilt CEO James Beshara. For everyone else — perhaps — there’s Crowdtilt. Beshara likes to talk about “bite-size” crowdfunding campaigns — it might be $400 for a tailgate party, $500 for a fantasy football season, $2,000 for a bachelorette trip. They’re the everyday reasons to pool money within a group.
That kind of crowdfunding has the potential to go viral in a different and broader way than a Kickstarter or Indiegogo campaign. For example, 10 weeks ago was the first time a Harvard Business School student started a Crowdtilt campaign, according to Beshara.
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