Crowdfunding Platform Crowdtilt Raises $23 Million in Series B Funding.
Crowdtilt, self-described as “the fastest and easiest way to pool funds from family and friends” thas raised $23 million in Series B funding led by Andreessen Horowitz. The new funding will be utilized for building staff in a drive for international expansion. Additional investors included SV Angel as well as Sean Parker, Matt Mullenweg, Oliver Jung, DCM, Felicis Ventures, Naval Ravikant, Alexis Ohanian, Elad Gil, and others.
“James and Khaled have built an incredible product that fundamentally changes the way that all kinds of things are funded,” said Jeff Jordan, partner at Andreessen Horowitz. “We believe they are well on their way to building the definitive horizontal platform for crowdfunding, and are thrilled to double down on our investment to support the company’s growth.”
Founded in 2012, Crowdtilt is a crowdfunding platform to collect, fundraise, or pool funds for anything from small-scale group objectives, like combining money for gifts or parties, to large-scale funding campaigns for community projects, disaster relief or crowdfunded products. The site also offers an open source crowdfunding option called CrowdHoster. Microsoft, Jamba Juice, Reddit, Soylent, McSweeney’s and Local Motors are just of few of the brands that are currently or have previously used Crowdtilt products.
“We are grateful to have Jeff, Marc, Ben and the entire Andreessen Horowitz team as mentors as we grow our business,” said James Beshara, CEO of Crowdtilt. “Our mission is to bring crowdfunding to the entire web and the entire world. From bite-size crowdfunding campaigns on Crowdtilt to powering complex, customized, and self-hosted crowdfunding campaigns through our API or our open-source tool, Crowdhoster, we’re excited about the next generation of this space.”
Crowdtilt is a technology company based in San Francisco, CA. Well known VC group Andreessen Horowitz backs bold entrepreneurs who move fast, think big and are committed to building the next major franchises in technology.