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San Francisco based online consumer and retail goods crowdfunding marketplace CircleUp has raised $30m of Series C funding, led by Collaborative Fund. Unlike its competitors such as AngelList, FundersClub, SeedInvest, and MicroVentures which also allow startups to raise funds online from accredited investors, CircleUp focuses strictly on the consumer goods sector.
CircleUp sends product samples from companies raising funds on its site to potentially interested backers. Also, CircleUp provides market data in aggregate to investors interested in consumer goods as an asset class. Capital One co-founder Nigel Morris said CircleUp is following in the footsteps of peer-to-peer lending companies the likes of Prosper Marketplace, which his fund QED also backed, or LendingClub Corp. and SoFi. CircleUp’s earlier backers also joined the Series C round, including Union Square Ventures, Canaan Partners, Maveron and Rose Park Advisors.
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