The Kickstarter competitor lands $585,000 on heels of being named to the latest class of Portland Seed Fund companies.
BY JACOB PALMER | DIGITAL NEWS EDITOR
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.
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.