Here’s yet another way to raise money via the crowdfunding meme.
Crowdtilt , the simple-to-use platform to pool money online,has closed a$12 million Series A funding. Launched in February 2012, San Francisco-based Crowdtilt is a simple way for groups to pool money online.
The round was led by Andreessen Horowitz, with participation from Sean Parker, SV Angel, DCM, as well as CrunchFund, Alexis Ohanian, Elad Gil, Naval Ravikant, Sam Altman, Matt Mullenweg, Dave Morin and Justin Kan. Also joining Crowdtilt’s board of directors is Jeff Jordan, partner at Andreessen Horowitz and former CEO of OpenTable.
The investment will support the explosive growth of the company, while further improving the product and user experience.
Fantasy football to community fund-raisers
Crowdtilt is being used for everything from collecting money for a fantasy football league among friends, all the way to an entire community rallying together to save their iconic toy store from closure.
Crowdtilt’s API, currently in closed beta, also allows anyone to create their own crowdfunding application, such as group payments, pre-sales commerce options, complete standalone crowdfunding applications or even social fundraising sites.
“Manual processes for coordinating payments across groups is inefficient and increasingly obsolete. Crowdtilt has built a highly efficient platform that is being used by all kinds of groups for all kinds of use cases — buying movie or concert tickets, collaborating on gift or travel spending, even funding school programs or public works projects. It is a robust collaborative payments platform for an increasingly collaborative web,” said Jeff Jordan, partner at Andreessen Horowitz.