Leading Equity Crowdfunding Platform StartEngine Crowdfunding, Inc. Secures $5.5M in Funding
SANTA MONICA, CALIF., January 8, 2015 – StartEngine Crowdfunding, Inc. (StartEngine), an industry-leading equity crowdfunding platform, has secured $5.5M in funding from SE Agoura Investment LLC, an investment affiliate of Aubrey Chernick (www.aubreychernick.com). The investment will be used to expand the StartEngine platform as well as bolster marketing and awareness campaigns. In the coming year, StartEngine will advance its goal of making equity crowdfunding the number one choice for both startups looking to raise capital as well as for investors seeking new options for financial growth.
“This investment is further proof of the early success of the StartEngine platform and the potential of equity crowdfunding,” said Ron Miller, CEO of StartEngine. “This fundraise will elevate the StartEngine platform, adding new investment opportunities and furthering our mission to help entrepreneurs achieve their dreams.”
While equity crowdfunding is in its early stages, successful campaigns, such as Elio Motors via the StartEngine platform, showcase the ability of startups to draw support and capital from both accredited and non-accredited investors. Additionally, with the May 2016 implementation of Title III equity crowdfunding rules, which will allow companies to raise up to $1MM through equity crowdfunding, this new funding resource will democratize the funding market for both startups and investors.
“Equity crowdfunding is a game-changer in how startups and emerging businesses can be funded,” said Aubrey Chernick, founder of NextGen Crowdfunding. “It’s an exciting growth area, and I see StartEngine as an early and important entrant in this new space.”
The StartEngine platform currently hosts campaigns through Title IV of Regulation A+ of the JOBS Act, allowing companies to secure up to $50M in funding through equity crowdfunding. With the implementation of Title III rules in May 2016, StartEngine will expand, opening the
platform to issuers looking to raise up to $1M through Title III funding rules, without the burden of SEC filing.
“This investment confirms our belief that equity crowdfunding will play a vital role in the rebirth of the entrepreneurial boom,” said Howard Marks, Executive Chairman and co-founder of StartEngine. “Equity crowdfunding will democratize access to capital, giving companies the ability to reach the funds necessary to continue to grow and be successful in the market.”
For more information about the StartEngine platform, please visit www.startengine.com or follow us on Twitter at www.twitter.com/startenginela.
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