category funding v3.png

Vancouver Coworking Community HiVE Seeks Crowdfunding on Indiegogo to Pay Down Debts and Grow

We just recently covered the end of Allerta's Kickstarter campaign, which saw the Canadian-born startup raise more than $10 million from over 66,000 backers in the span of one month. Back in Vancouver, coworking community HiVE is hoping to raise a modest $35,000 in crowdfunding money using the Indiegogo platform, which we earlier today suggested as one of 12 ideal sites to use in Canada.

read more

Crowfunding in Canada: Opportunities and Hurdles

Crowdfunding platforms raised $1.5 billion and successfully funded more than one million campaigns in 2011. Those numbers are forecast to double in 2012. The biggest player is Kickstarter.

TechCrunch suggests that with the US JOBS Act becoming law, the tech industry (and the economy at large) are headed for some big changes. Namely, the legalization of crowdfunding in startups for non-accredited investors has come to pass. In terms of its compound annual growth rate (CAGR), the North American crowdfunding industry is growing at a rate of 63% in terms of the total amount of funds raised.

read more

Etsy Raises $40 Million and Eyes Expansion into Canada

Etsy, the online marketplace for handmade and vintage goods, announced yesterday that it has raised $40 million from its existing VC investors.

This Series F round is on top of $51 million in funding to date and now pegs the company's value at more than $600 million.

What are they going to do with all that money?

Etsy’s chief executive, Chad Dickerson, told the New York Times that the new financing isn't needed to cover operational costs (they've been profitable since 2009) but rather to expand internationally. 

read more

Crowdfunding Raised $1.5 Billion Last Year, Poised to Raise $2.8 Billion This Year [Study]

Crowdfunding platforms around the world raised roughly $1.5 billion combined last year, Massolution says. An industry report released by the research group says that there were 350 crowdfunding platforms at the end of 2011, up 50% from the start of the year.

Massolution says that approximately one million campaigns were hosted by these platforms, for an average of nearly 2,900 campaigns per platform. The average amount of money that a single campaign raises is less than $700, however. Although we all know the story of Pebble, which is on pace to raise $10 million from Kickstarter.

read more

Government Invests $800,000 in The Next 36 to Foster Student Entrepreneurship in Canada

It's been revealed that the Government of Canada is giving nearly $800,000 to The Next 36, a nonprofit organization located in Toronto that "strives to launch the careers of Canada's most promising and innovative undergraduates." Wladyslaw Lizon, Member of Parliament for Mississauga East-Cooksville, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario, today announced a contribution of up to $787,500 for The Next 36 that will provide graduates in the fields of science, technology, engineering and math (STEM) with the skills and support they need to start their own businesses.

read more

Sweet Tooth Secures $2.25M in Seed Financing

Waterloo's Sweet Tooth Inc. announced today it has secured $2.25 million in funding. $1.5 million will be in the form of seed financing from OMERS Ventures, the Ontario government funded MaRS Investment Accelerator Fund (IAF) and Points International with an additional $750K is forthcoming from other sources.

Launched in 2009, Sweet Tooth provides a turnkey, user-friendly system for merchants to create 'points' programs and deliver online and in-store rewards to their customers. Sweet Tooth has helped over 1,500 merchants actively engage and reward more than 15 million consumers worldwide.

read more