AngelList Raises $24 Million

Posted Sep 22, 2013

According to Fortune, AngelList has raised $24 million in funding with a $150 million valuation.  Atlas Venture and Google Ventures led this round of funding.  The funding included participation from over 100 other individuals and institutions.  Other investors involved in this round include Kleiner Perkins, Draper Fisher, Marc Andreessen, Max Levchin, and Ev Williams.

None of the investors will be joining the board of directors.  The investments are not tied to any proprietary insights either.  One of the reasons why AngelList raised funding from so many investors so that they do not appear to be clinging to any specific firm or individual.  AngelList previously raised funding from Atlas Venture three years ago.

“I first invested personally when it was just [startup investment advice blog] VentureHacks, which was not a VC-backable business,” stated Atlas Venture Jeff Fagnan. “But today I’d compare it to Craigslist for startups, and they are doing a lot of the things that LinkedIn and NASDAQ do for larger businesses.”

AngelList connects entrepreneurs and investors together, but they have become a source for direct investments in recent times.