Crowdrise raises $23 million
Crowdrise is a startup that was founded by actor Edward Norton, Robert Wolfe, Shauna Robertson and Jeffery Wolfe in 2009. The startup is known as a website for raising funding for charity. These individuals came up with the idea in 2009 when trying to raise money for Masai Wilderness Conservation Trust. They were originally looking to raise between $60,000 and $75,000, but ended up raising $1.2 million through its online platform.
Crowdrise has raised $23 million in funding led by Fred Wilson and Union Square Ventures with participation from Spark Capital, Index Ventures, RatPac, CAA Ventures, UTA Ventures and Bezos Expeditions. Wilson is known for funding Kickstarter so he knows a thing or two about the crowdfunding model.
Kickstarter, Indiegogo, and Crowdtilt do not focus much on charity. Crowdrise makes money by taking between 3% and 5% off transactions. The company is testing a 1% fee at the Boston Marathon.