Crowdfunding platform Crowdtilt has closed a $23 million Series B round of funding led by Andreessen Horowitz, with participation from SV Angel, DCM, Felicis Ventures and several individual investors. Founded in 2012, the company allows users to collect, fundraise or pool funds for anything from small-scale group objectives to large-scale funding campaigns for community projects.
Crowdtilt has now raised over $37 million in funding to date, including a $12 million Series A investment (also led by a16z) that valued the company at $38 million this past March. Brands that have used or are currently using Crowdtilt products include Microsoft, Jamba Juice, Reddit, Soylent and Local Motors, among others. The new investment will help the company continue to grow its team and expand internationally.