DietBet, the social dieting company, has raised $308,000 in bridge funding through equity crowdsourcing platform, SeedInvest. DietBet is the second company to meet its funding initiatives on SeedInvest in the last month. The company launched in February 2013 and has more than 400 active accredited investors and more than 300 companies on its platform.
“We were looking for a more efficient way to raise capital that didn’t include time consuming meetings, large amounts of travel and taking large chunks of time away from building our business,” said Jamie Rosen, founder and CEO of DietBet. “SeedInvest connected us to many new investors and streamlined the execution process. We didn’t have to jump through hoops to get investors to send their checks or to sign their paperwork.”
SeedInvest’s platform provides many tools that make it efficient and easy to present information, network with investors and raise capital. DietBet utilized the SeedInvest data room to post all the information they needed in order to tell their story and give investors a feel for the company, its products and its potential. Key to this success was DietBet’s video that provided an excellent overview of their business model and gave life to the character of the CEO and the company.
One of DietBet’s new investors, Rob Pieklo found the company while doing research on SeedInvest. “SeedInvest provided me with all the information I needed to make an educated investment in Dietbet.,” said Rob. “I was comfortable with the investment because I was able to interact directly with Dietbet and get a clear picture on not only what I was investing in, but who. Seedinvest made that connection possible.” Rob not only liked the company enough to invest in it, he even started his own DietBet game with his office in New Jersey!
DietBet is the second company in less than a month to achieve their funding initiatives on SeedInvest. Earlier in March, StearClear oversold their goal and raised $140,000 in less than 5 days. Like StearClear, DietBet set the terms for their raise and never had to alter them to attract investors. The company plans to utilize the funding to expand the DietBet business model into long-term weight loss games.
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