CircleUp, a crowdfunding site designed to provide investors with equity,not pre-orders or just a sense of satisfaction had launched to the public.The site has a very specific focus,since it’s accepting only accredited investors and funding members, and going after a relatively specific vertical in terms of customers looking for funding:established consumer product-focused businesses with over $1 million in annual revenue. Even with such a defined niche,CircleUp’s co-founders Ryan Caldbeck and Rory Eakin think there’s plenty of appetite for what the site has to offer, and plenty of opportunity to shake up a process that’s traditionally been costly, arduous and time-consuming.
CircleUp’s approach is all about being selective.There will only be three companies on the site seeking investment, something Co-founder Ryan Caldbeck said is by design. “We’ve had about 150 companies reach out to us, and we’re only letting three on at first,” he said. “The reason we’re only letting three on is one, there’s a heavy curation involved to ensure that the deals we put in front of investors are accessible, understandable and really high-quality. And two, we’re going to add new deals every few weeks, as investors come on and demand is stronger.”