Israel’s OurCrowd Completed $12 Million Funding
6 February, 2013
The innovative equity crowdfunding platform, raised $5.5M for its own platform, and additional $6.5M for 12 startup companies
“We are focused on linking global accredited investors with Israel’s exciting Start-up Nation scene”
Israel’s OurCrowd announced today that it has closed $5.5M in Series A funding and successfully closed 12 company funding rounds from accredited investors in its first quarter of operation. The average deal size was approximately of $500,000. Capital raised for companies and the platform now totals over $12M.
OurCrowd is a new and innovative way to invest in Israeli startups. OurCrowd identifies companies seeking early stage investment and brings these opportunities to its membership who choose which deals they participate in via OurCrowd-managed partnerships. OurCrowd co-invests in all of these deals, and manages the ongoing investments in the companies, including Board participation.
Membership in OurCrowd is limited to only those meeting stringent accreditation requirements. OurCrowd Founder and CEO, Jon Medved, said, “We are focused on linking global accredited investors with Israel’s dynamic and exciting Start-up Nation scene, which is generating investment opportunities unlike any I have seen in the past.”
Jon Medved was previously the co-founder and CEO of Vringo (AMEX: VRNG), and Israel Seed Partners, a venture capital groups with over $260M under management. He is joined in this new venture by an experienced team of 10 investment professionals, including Steven Blumgart, formerly of Glencore; Pini Lozowick, formerly of Broadcom and Alta Berkeley; Elan Zivotofsky, formerly of Goldman Sachs and Lehman Brothers; Zack Miller formerly of SeekingAlpha; Gadi Mazor, formerly of Onset; Robbie Citron of Jerusalem Global; Jay Kalish of Allot; and David Arnovitz formerly of SecureWare.
Steven Blumgart, OurCrowd’s Chairman, noted that, “We diligence our deals carefully, invest our own capital, and manage each investment as the general partner of a company-specific investment partnership.”The first deals completed on the site so far include: AbesMarket.com, Sherpa, TradeOS, Parko, Fireblade and Consumer Physics that builds a pocket spectrometer for smart phones.