Realty Mogul, an online marketplace for investors to pool money and buy shares of investment properties, has raised a $9 million Series A funding round led by Canaan Partners. The company provides accredited investors with tools to browse investments, conduct due diligence, invest online and track the performance of their investments through an online dashboard.
To become an accredited investor, an individual needs to have an income of at least $200,000 per year or a net worth of $1 million. After submitting an amount to invest, the individual is notified when the total amount has been fulfilled and is given updates on the property, along with any resulting distributions. Realty Mogul has funded properties totaling more than $100 million in value through its crowdfunding platform. Additional backers include Film Annex Networks and TechStars.