Global investment crowdfunding platform OurCrowd announced on Wednesday it raised $72 million during its Series C funding round. The company revealed that the latest round’s participants included financial institutions, family offices, and private investors from five continents.
Sharing details about the funding round, CEO of OurCrowd, Jon Medved, stated:
“OurCrowd has grown exponentially since our launch in 2013 to become the leading global platform for Equity Crowdfunding. This transformative Series C funding will allow us to take advantage of the growing investor interest in quality equity crowdfunding and further expand our global operations.”
To date, the Israel-based funding portal has invested in 100 portfolio companies. Total investment in companies and funds now exceed $300 million. The company has had nine exits from its portfolio investments, two IPO’s, and seven acquisitions, which includes ReWalk (IPO: Nasdaq), Crosswise (bought by Oracle), Replay Technologies (bought by Intel), and NextPeer (bought by Viber).
Medved also noted that half of the round’s funds would be used to invest in the expansion of the crowdfunding platform’s seven global offices and further develop its technology platform. The other half of the funds will go towards making sure that each company that raises funds on OurCrowd receives participating investment from General Partner with the same terms as the crowd.
Speaking about OurCrowd’s success, Dr. Richard Swart, former director of crowdfunding research at UC Berkeley and chief strategy officer at NextGen Crowdfunding, explained:
“OurCrowd continues to lead the equity crowdfunding market not just in numbers but in the quality of their deal flow and number of their exits. They have consistently proven that crowdfunding can deliver not only the best deals but also healthy returns. OurCrowd’s impressive new funding round should enable them to address the considerable challenge of scaling up their business to the billion-dollar level.”
Janet Young, managing director of group channels and digitalization at Singapore’s UOB Group, which invested in OurCrowd during the latest funding round, commented:
“We understand the ambitions of startups and emerging enterprises and want to help them grow into sustainable businesses. We look forward to working closely with OurCrowd to further develop their platform to support the startup ecosystem both in Singapore and the broader Asian market. Our investment into this Series C funding for OurCrowd reinforces our commitment to supporting startups and small businesses.”
Geoff Levy, chairman of Monash Private Capital, an OurCrowd investor, and a member of the OurCrowd Advisory Board, added:
“OurCrowd has grown incredibly fast over the last 3+ years. With this new and important Series C funding, we expect to continue this steep growth trajectory, not only gaining more investors and capital worldwide, but most importantly increasing the ‘crowds’ involvement in sourcing and adding value to our remarkable portfolio of companies.”