2,800 crowdsourcing and crowdfunding sites
In the crowdfunding world, Kickstarter and Indiegogo have begun to creep into mainstream culture, thanks in large part to social media. But Crowdtilt, an up-and-coming platform, is going even further to bake communities and social networks into their secret sauce, and it's an approach that's led some of the biggest names in the venture capital world to bet that Crowdtilt is the next big thing in crowdfunding.
TechCrunch is reporting that the Y-Combinator grad, which also raised a seed round of over $2 million last year, has now raised $12 million in a Series A round. Rumor has it that the lineup of investors include Silicon Valley rock stars like Sean Parker, Andreessen Horowitz (via Chris Dixon) and Path founder Dave Morin, in addition to existing investors such as Alexis Ohanian of Reddit fame, CrunchFund and Felicis.
Whereas Kickstarter and Indiegogo have become a cash cow for numerous artists and entrepreneurs, part of Crowdtilt's draw is the deeper focus on community and projects that are more likely to be supported by groups.
The relationship with Reddit-founder Ohanian was likely helpful in forging a partnership with one of the most engaged online communities. The partnership allows a Crowdtilt fundraising campaign to be tied directly into a Reddit thread.
It's also reported that Crowdtilt is looking into making an acquisition that would allow it to move deeper into the mobile space, further enabling groups to come together quickly and seamlessly to fundraise for common causes.
So far no million dollar campaigns have "tilted," but $18,000 has been raised for the lighting of the San Francisco Bay Bridge and over $80,000 was contributed to keep a St. Louis area toy store afloat -- gives you a little bit of a sense of the kind of projects that find purchase in Crowdtilt's soil.
We've reached out to Crowdtilt for confirmation of all the news and hope to have someone from the team on one of our podcasts in the near future to talk about the future of the platform. Keep checking back.
- Eric Mack is Managing Editor for Crowdsourcing.org. He has covered business, technology and politics for more than a decade for major outlets including CNET, CBS, AOL, NPR, Wired, and the New York Times. You can contact him at email@example.com. Find him on Twitter and Google+. Also be sure to follow Crowdsourcing.org on Twitter and join our Crowdsourcing community on Google+.