CircleUp Raises $30M For Its Consumer Brand Crowdfunding Platform

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CircleUp, an AngelList-style crowdfunding platform that consumer retail businesses like food companies use to raise money from outside investors, is announcing some funding of its own today. The company has raised a Series C round of $30 million — growth money it intends to use to build out its platform and product teams. Specifically, the company is working on new tech to make finding, approving and helping businesses on its platform more foolproof. “In the past year, we have built machine learning algorithms to evaluate companies,” Ryan Caldbeck, CEO and co-founder of CircleUp, said in an interview. The company is now crunching numbers from 150 data sources to build better profiles of their fundraising companies, and it will be adding more. “This is a key innovation, and no other company in this space is doing it.”

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