StartEngine Crowdfunding, Inc., a Los Angeles, CA-based equity crowdfunding platform, raised $5.5m in funding.
SE Agoura Investment, LLC, an investment affiliate of Aubrey Chernick, made the investment.
The company intends to use the funds to continue to develop the platform as well as conduct marketing and awareness campaigns.
Created in 2013 by Howard Marks, Executive Chairman, and Ron Miller, CEO, StartEngine is an equity crowdfunding platform connecting Millennials and aspiring investors with startup companies. The platform currently hosts campaigns through Title IV of Regulation A+ of the JOBS Act, allowing companies to secure up to $50M in funding through equity crowdfunding. With the implementation of Title III rules in May 2016, StartEngine will expand, opening the platform to issuers looking to raise up to $1M through Title III funding rules, without the burden of SEC filing.