A New Player On The Crowdfunding Scene
After helping several start-ups find funding, CircleUp has brought in some dollars for itself in the form of $14 million in venture capital funding. The round was led by first-time investor Canaan Partners, Google Ventures had previously invested in the company.
CircleUp connects small consumer and retail companies with vetted prospective investors that make at least $200,000 a year, or have a net worth above $1 million.
Dan Ciporin, a partner at Canaan Partners will also be joining CircleUp’s board.
“There’s a lot that we can learn from Dan’s experience at Lending Club,” said CircleUp CEO Ryan Caldbeck, reports The New York Times. “We viewed that as a really good analogy of what we’re trying to build.”
CircleUp had raised $7.5 million in a previous funding round.
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