Crowdtilt Collects a Quick $23M from VC’s

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.

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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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