Assembly, a San Francisco, CA-based community platform that connects developers, designers and others to create software apps, raised $2.9m in funding.
The round was led by Union Square Ventures with participation from Thrive Capital, Box Group and Collaborative Fund and other angel investors.
The company intends to use the funds to expand operations.
Co-founded by Dave Newman, Matthew Deiters, and Chris Lloyd, Assembly operates a community platform that connects developers, designers, and other creatives to create software apps. Anyone can submit an idea for an app or software product and the community gets behind the best ideas to build them. The products are built on the platform including everything from strategy and development to legal and financials. The community decides who owns products and who gets paid what.
Once a product launches, the company handles the bills each month and distributes the proceeds back to creators.
Each product makes use of its own cryptocurrency or on the Bitcoin Blockchain to enhance the contributors’ ownership and control.