BOSTON, Nov. 14, 2018 /PRNewswire/ -- KingsCrowd, a Boston-based leading independent, third-party crowdfunding research and rating service, has acquired leading equity crowdfunding data and analytics provider Crowditz.
Crowditz was founded in 2017 by Alan Phillips, an esteemed angel investor, Howard Schneider, a former CTO at Dow Jones, and Boston-based CMO Jon Finegold. The team has built the first comprehensive software that collects and analyzes investment data from across the industry. This provides investors an inside view into this fast-growing industry, in addition to granular-level deal data to help individuals make informed investment decisions.
"When we launched KingsCrowd, I often found myself utilizing the Crowditz platform regularly to keep up to date on the latest market movements and startups we needed to be covering. We always knew incorporating in-depth analytics into our ratings platform, which is under development, was on the product roadmap. Crowditz helps us accelerate that timeline and provides our users with a more comprehensive suite of tools to make informed investment decisions in this new market," said Chris Lustrino, founder and CEO of KingsCrowd.
"Equity crowdfunding is poised to be a disruptive force in startup investing and our vision of where the industry is headed aligns perfectly with KingsCrowd," said Alan Phillips, co-founder and CEO of Crowditz. "Investment decisions in this industry will ultimately be data-driven and the combination of our two platforms will create a powerful destination for anyone interested in equity crowdfunding."
In the deal, KingsCrowd will acquire all assets and users of Crowditz, which will help to accelerate the growth of KingsCrowd, which is currently raising capital on one of the leading equity crowdfunding portals, StartEngine. KingsCrowd's offering page can be found here.
"We think this is a major development for our organization and all of our current and future investors. To have this acquisition close during our current round of investment on StartEngine is exciting because we are getting to build a better solution in real time for the people we are raising from," said Lustrino.
The combined assets of KingsCrowd and Crowditz will enable KingsCrowd to provide the most comprehensive set of data and independent due diligence in the equity crowdfunding market, which has grown in excess of 100 percent YoY over the past two years via major platforms such as Wefunder, StartEngine, SeedInvest, Republic and Netcapital.
KingsCrowd is the leading independent, third-party independent, unbiased ratings service for the equity crowdfunding market. Through in-depth market research and company due diligence, KingsCrowd provides investors with the necessary information needed to make an informed investment decision in this new space. KingsCrowd was founded by Chris Lustrino, an esteemed Fintech blogger and former management consultant at LEK Consulting in 2018, and is advised by John Fanning, the founding chairman and CEO of Napster.
About Crowditz LLC
Crowditz is a platform which aggregates data from across the entire equity crowdfunding industry. Crowditz was co-founded in 2017 by Boston-based serial entrepreneurs Alan Phillips, Jon Finegold and Howard Schneider with a mission to help connect everyday investors with deals of interest and use data to help understand crowdfunding trends and ultimately help predict outcomes for crowdfunded start-ups. Enabled by the Jumpstart Our Business Startups Act (JOBS Act), equity crowdfunding became a reality on May 16, 2016, when the individual investor was permitted to make small equity investments in early-stage companies. Crowditz is the single, aggregated data source across the equity crowdfunding industry.