OurCrowd Pulls in $72 Million
By Julie Schicktanz for Finovate
OurCrowd, an equity crowdfunding platform that boasts a network of 15,000 investors to fund U.S. and Israeli startups, raised $72 million. Financial institutions, family offices, and private investors from five continents participated in the Series C round, though most of the investors remain unnamed.
Singapore bank UOB Group, however, has come out as a strategic investor to help OurCrowd expand globally beyond the U.S. and Israel. Janet Young, MD of Group Channels and Digitalization at UOB Group said, “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.”
According to OurCrowd CEO Jon Medved, the company will use half of the funds to fuel global expansion and build out the product. The other half will be used to match investments made on the platform. This, as Medved explained, will “make sure that each and every company which raises funding on our platform receives participating investment from the General Partner on the same terms as the crowd.” He added, “this new capital will help us hit our goal of investing $1 billion annually by 2020.”
OurCrowd’s funding now totals just north of $100 million. The Jerusalem-based company has facilitated $300 million in funding for the 100 companies in its portfolio. Notable client successes include nine exits, including seven sales and two IPOs.
OurCrowd’s Chief Product Officer Shai Ben-Tovim and VP of Engineering Oshrat Kfirlaunched the company’s mobile app at FinovateSpring 2016. The app helps investors discover new opportunities and empowers them with information to make better investment decisions.
In June the company partnered with Bayer, Dupont, and FinistereAG to launch an agriculture-focused investment fund, Radicle. That same month, OurCrowd earned a spot on the RedHerring 2016 Europe Top 100 list.
First appeared at Finovate