Crowdfunding platform SeedInvest announced that it has raised $1 million in new funding. The round was led by the Jumpstart New Jersey Angel Network, and included the participation of unnamed “prominent individual investors.”
The company plans to use the additional capital to help grow the equity-based platform, and to add new features. SeedInvest helps connect accredited investors with entrepreneurs seeking capital, providing both parties with web-based tools such as a due diligence dashboard, virtual boardroom, and streamlined funds transfer.
The Jumpstart New Jersey Angel Network is a private, angel group focusing on early-stage technology startups in the mid-Atlantic region. Started in 2002 and making its first investment in 2004, Jumpstart typically provides funds ranging from $200,000 to $1 million. To date, the Network has provided more than $33 million in funding for more than 50 companies.
SeedInvest was founded in January 2012 by Ryan Feit and James Han, and launched its crowdfunding platform a little over a year later in February 2013. The company is headquartered in New York City.
SeedInvest demoed its technology at FinovateSpring 2013 in San Francisco in May. Watch the company’s presentation here.