CircleUp, a San Francisco, CA-based crowdfunding platform, closed a $7.5m Series A financing.
The round was led by Union Square Ventures, with participation from Google Ventures and existing investors Rose Park Advisors and Maveron. In conjunction with the funding, Andy Weissman, managing partner at Union Square Ventures, will join CircleUp’s board; David Krane, general partner at Google Ventures, will join as a board observer.
The company intends to use the funds to hire engineers and designers to continue to build its technology (read here).
Led by Ryan Caldbeck, CEO and co-founder, CircleUp CircleUp is an equity-based crowdfunding platform that enables accredited investors to access to select investment opportunities in private retail and consumer product companies, tools to identify and diligence companies, and online transaction capability.
Launched in April 2012, CircleUp has managed investments amounting to more than $10m.