StartEngine has closed its most recent self-crowdfunding round, having raised over $24.5 million. The Reg A+ securities offering was for equity in the investment platform. StartEngine was selling its shares at a pre-money valuation of $1.32 billion. In the hours just prior to the funding rounds close, StartEngine reported that almost 12,000 investors had participated in the securities offering which experienced a rush of investments in the waning days of the round.
StartEngine operates both a funding portal as well as a broker-dealer. The platform has expanded from its base of private securities offerings in private firms to move into collectibles and other alternative assets in recent years. A secondary marketplace has been launched to provide liquidity for investors wanting to exit an investment before a merger or acquisition event. StartEngine mainly lists offerings under Reg CF and Reg A+, securities exemptions that cater to both accredited and non-accredited investors, but following the end of the round, StartEngine announced a new service to broaden its business.
In an email distributed this past weekend, StartEngine announced “StartEngine Private.”
StartEngine co-founder and CEO Howard Marks said his company is “taking one of its biggest steps ever to fulfill our mission to expand access to private markets.”
StartEngine has acquired an interest in Airtable and the platform is offering accredited investors to participate in the securities offering. StartEngine has created an LLC to hold the shares in the company, which is listed at a valuation of $11.73 billion.
A minimum of $14.195 at $95/share is required to participate in the offering. This Reg D offering is made available through StartEngine Primary, LLC.
Airtable is a private firm that operates a Software as a Service (SaaS) platform for users to build custom apps in a “no-code” environment. StartEngine reports that more than 450,000 firms use Airtable, and the company has received the backing of big-name investors like Michael Dell, Benchmark, Tiger Global, and more.
StartEngine previously offered securities under Reg D, but this appears to be a new initiative to tap into the massive market that is valued in trillions of dollars annually.
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