Photo: Eric Jackson
CapLinked, a do-it-yourself platform for private investments which is funded by a bunch of ex PayPal members, just raised $500K in funding, bringing its total to $1.4 million.CapLinked co-founder Eric Jackson, PayPal’s former head of U.S. marketing and author of the The PayPal Wars, told us the money will be used to hire engineers to add to their 11-person team and build out extra features for the service.
“There were no good tools to manage capital raises and investor relations — it all revolved around 1995 technology (emails and spreadsheets for tracking leads). And only big companies and investors could afford enterprise deal room solutions,” Jackson said. “So we set out to build an online platform that would make private investing as easy as using Facebook or LinkedIn.”
The company has grown its userbase by more than 40x since launching in February. It has over 95,000 user accounts, 10,000 company profiles, and $12 billion in private investment deals.
But only 30 per cent of the deals are tech startups. The rest of the deals are in the financial services, energy, transportation, and food and beverage industries.
A month ago, CapLinked announced its integration with Facebook and Twitter. In the near future, Jackson said, the company are rolling out integration with Twitter and Facebook contacts. Say you’re doing a capital raise and you want to put your deal room in front of former colleagues. You’ll be able to click on a social button to port your Facebook contacts and contact 12 people you want to share your document with.
Jackson also said CapLinked is introducing a subscription service that will work like the premium models in LinkedIn, Dropbox, and Evernote.
And, yes, CapLinked did use a deal room on its own site to manage the most recent round of funding.
The latest round of investors includes from PBworks vice president Chris Yeh, angel investor Jason Portnoy, co-founder of TheGlobe.com Stephan Paternot, and others. Previous investors include members of the so-called PayPal “mafia” like Yammer CEO David Sacks, Palantir cofounder Joe Lionsdale, and angel investor Dave McClure.