ChallengePost, a New York City-based public platform that enables competitive problem-solving, has raised $4.1 million in a Series A venture capital funding.
The round was led by Opus Capital, with participation from Betaworks, Richmond Park Partners, and a number of angel investors, including Esther Dyson, Joshua Schachter, Irwin Jacobs, Jason Calacanis, and others.
This funding brings the total financing raised by the company to $4.875k.
It intends to use the funds to expand the team and develop tools for expanding community involvement in problem sourcing and solving.
Founded in 2009 by CEO Brandon Kessler, ChallengePost is a platform that enables government agencies, corporations, nonprofits, and individuals to challenge the public to solve problems. It allows challenge sponsors to receive innovative solutions and increased awareness around important initiatives and members of the public to receive recognition and rewards. It has already powered more than 200 challenges to date for government agencies, corporations, nonprofits, and individuals, including the City of New York, First Lady Michelle Obama, the World Bank, Samsung, Elsevier, the MTA, Thomson Reuters, Lollapalooza, etc.