Crowd Supply raises money — for itself

The Kickstarter competitor lands $585,000 on heels of being named to the latest class of Portland Seed Fund companies.

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The Portland-based competitor of Kickstarter landed $585,000 from investors on the heels of being named to the latest class of Portland Seed Fund companies.

Crowd Supply, a crowd-funding platform for product companies, plans to bolster business operations with the investment.

Portland Business Journal reports:

This funding round was led by Portland Seed Fund and included SOSVentures, Inspiration Ventures and other angel investors. The last cash infusion for the company was $500,000 back in 2013, which was led by Inspiration Ventures.

With this money the company can follow through on its plans to further expand its reach. A couple weeks ago we caught up with co-founder and Director of Product Josh Lifton and he had some interesting data points to share:

  • Crowd Supply campaigns have twice the success rate as those on Kickstarter.
  • The average Crowd Supply campaign raises $52,200, triple that of Kickstarter projects.
  • Funded Crowd Supply campaigns have a 100 percent delivery rate.

Delays on crowdfunded projects are commonplace, PBJ writes.

Angel Oregon tabs 3 finalists

One startup will land at least $200,000 in investment money at the Angel Oregon pitch competition April 22.

In total, 61 companies were considered before the Oregon Entrepreneurs Network selected the following trio.

From PBJ:

SpaceView, an app that allows you to envision how a room in your house would look with certain furniture pieces or other home decorations.

MotioSens, a device that unobtrusively monitors health of senior citizens.

The final company is BuddyUp, a social network for college students that will unveil apps in May.