Y Combinator Company Crowdtilt Raises $12 Million
Crowdtilt is a crowdfunding company that spun out from Y Combinator. Crowdtilt has raised $12 million in Series A funding from Sean Parker, Andreessen Horowitz, CrunchFund, DCM, and Felicis Ventures. Before this round, Crowdtilt raised $2.1 million in seed funding this past May from SV Angel, CrunchFund, Paul Buchheit, Alexis Ohanian, Harj Taggar, Garry Tan, DCM, and Felicis Ventures.
The company launched in February 2012 and was known as being a “Kickstarter for any group,” meaning that they wanted to be a platform that could fund any event.
Let’s say that you wanted to throw a football tailgate at your university. Everyone knows that a tailgate can get to be expensive so you can start a Crowdtilt campaign to send to your friends. If your friends contribute towards the full cost of throwing the event, then you will receive the payment and will be encouraged to throw the event. This type of situation would not work on another crowd-funding platform like Kickstarter or Indiegogo, but it would work on Crowdtilt.
According to sources with TechCrunch, Crowdtilt is currently working on acquiring a company that would help bring their platform to mobile devices. Crowdtilt currently does not have a mobile application on iOS or Android.
CrowdTilt.com CEO James Beshara was interviewed by Leo Laporte last month. You can view that video below: