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Need Funding For Your Business?
By Anna Johnson on September 8th, 2008Last Tuesday, Angelsoft released version 3.0 of its angel funding platform, which aims to connect startup entrepreneurs with over 400 angel investment groups and 11,000 investors from around the world.
To avoid investors being overwhelmed with the 2,000 monthly start up applications that go through Angelsoft, Version 3.0 lets entrepreneurs present their business idea to three investment groups at a time. Meanwhile Angelsoft 3.0 also has a ‘Digg-like’ feature which allows investors to rate existing portfolio companies.
On the basis that highly rated companies will rise to the top of the list, this allows second and third-round investors to focus on the more viable companies. Startups cannot, however, rate investors.
For all the apparent popularity and functionality of the platform, few deals have actually been completed via Angelsoft. Evidently, only 1.32 percent of startups have been funded and just 24.72 percent have been screened using the site.
Source: Don Reisinger, “Angelsoft 3.0 Launches With 400 Angel Investment Groups In Tow”, TechCrunch, September 2, 2008, Angelsoft
