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FundersClub Backs Enterprise Software
SAN FRANCISCO, CA, Feb 28, 2013 (MARKETWIRE via COMTEX) --
FundersClub (www.fundersclub.com), the world's first online venture
capital platform, today announced that it has invested in a batch of
enterprise software companies -- marking its first investment in the
hot space and bringing the total invested by the 7-month-old platform
to more than $2.5 million to date. inDinero, an accounting software
suite; TinderBox, the leading cloud-based software platform for sales
efficiency and brand consistency; and a quality assurance software
startup in private alpha, each received an investment from
FundersClub together totaling more than $800,000.
"From helping business owners better manage their money to
streamlining the business proposal process, our latest group of
investments exemplifies what enterprise software is all about --
simplifying the way we do business," said Alex Mittal, CEO and
co-founder of FundersClub. "Each has already demonstrated amazing
traction in its respective field, and I can't think of better
companies to represent FundersClub's first investments in enterprise
technology."
The investments were facilitated through FundersClub's unique online
marketplace that allows accredited investors to become equity holders
in FundersClub-managed venture funds designed to finance pre-screened
private companies. It included three separate funds, each created to
finance a single company. 151 members participated in the three funds
including executives from Bank of America, Cisco, Salesforce, and
Samsung -- with the inDinero fund receiving the largest investment.
"The great thing about FundersClub is that you get a very diverse
pool of pre-qualified investors who you wouldn't otherwise know,"
said Jessica Mah, CEO and co-founder of inDinero. "I've met some
great individuals through the platform who have helped the company. I
wish I had this back in 2009 when I started inDinero."
More than 5,000 accredited investors are FundersClub members --
creating a network of highly connected and experienced individuals
with a vested interest in helping the company, and the FundersClub
community at large, succeed. Investors benefit from greater access to
private investment opportunities, a more convenient investment
process and the ability to diversify with relatively small amounts of
capital.
"We're a prime example of the FundersClub network effect," said
Dustin Sapp, president and co-founder of Indianapolis-based
TinderBox. "A member referred us to the platform, which led to an
investment that was the last piece we needed to finalize our Series B
round. The real power of FundersClub isn't the money itself, it's the
people behind it -- and that's priceless no matter where you're
based."
FundersClub reviews each prospective company via an internal
Investment Committee, comprised of VC and angel investors,
entrepreneurs, and operators, to confirm the company meets criteria
for listing; and by the FundersClub Angel Panel, a member-driven
vetting group, to assess community demand. Since FundersClub's launch
in July 2012, this process has filtered hundreds of referred
companies down to 15 to receive funding via the platform.
Now that the funds have closed, FundersClub's management entity,
FundersClub Management LLC, manages the payment and investing process
and serves as the fund manager. Because FundersClub acts as the
single point of contact between fund investors and the company,
companies are spared the headache of coordinating a large group of
investors -- making accepting group investments an attractive option
for private companies.
The platform currently features early, mid- and late-stage private
U.S. technology companies from Silicon Valley and beyond. The typical
company listed on FundersClub is a startup with high growth and a
reputable team.
To become a FundersClub member or apply to receive FundersClub
investment, visit www.fundersclub.com.
About FundersClub
FundersClub is the world's first online venture
capital platform. A member of the National Venture Capital
Association (NVCA), FundersClub is a venture capital advisor and is
governed by the same legal structures as traditional venture capital
firms. What distinguishes FundersClub is its unique online
marketplace that allows accredited investors to become equity holders
in FundersClub-managed venture funds, which then fund pre-screened
private companies. Each funded FundersClub startup benefits from the
capital, the advice, and the professional networks of its associated
venture fund investors, but are spared from the overhead of
interfacing with a crowd of investors by receiving capital in a
traditional venture capital fund format. Investors benefit from
greater access to private investment opportunities, a more convenient
investment process and the ability to diversify with relatively small
amounts of capital.
Launched in 2012 by serial entrepreneurs and investors Alex Mittal
and Boris Silver, the company is backed by top angels and VC firms,
including: Andreessen Horowitz, First Round Capital, Intel Capital,
Spark Capital, Tim Draper and more.
FundersClub operates and manages all venture funds. All FundersClub
members with access to investment opportunities have certified as
accredited investors.
To learn more about FundersClub visit www.fundersclub.com. For
further details on how the platform works visit:
http://www.fundersclub.com/site/howitworks.
Contact:
Lauren Moreno
Email Contact
415.593.1400
SOURCE: FundersClub
http://www2.marketwire.com/mw/emailprcntct id=72F752866D514A34
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