CrowdBouncer, a Buffalo-based start-up, gets funding - The Buffalo News
print logo

CrowdBouncer, a Buffalo-based start-up, gets funding

CrowdBouncer Inc., a Buffalo start-up that provides software to help crowdfunding websites deal with new federal regulations, has raised $437,500 in funding from Rand Capital Corp. and a state-backed investment fund.

CrowdBouncer was the brainchild of chief executive Robert Carbone, who founded the company two years ago after examining the regulatory issues that private equity fundraising would face under the federal JOBS Act. Keith Blakely, the chief executive of the InVentures Group, provided start-up capital and serves on CrowdBouncer’s board of directors.

Carbone said CrowdBouncer’s software can help investors and companies manage the increased regulatory and compliance standards under the changing federal rules. The company’s services also target the fast-growing crowdfunding market.

“There is a tectonic shift in how capital is being raised,” he said.

The company’s fundraising included a $270,000 investment from Rand, a Buffalo-based venture capital firm, said Daniel Penberthy, the venture capital firm’s executive vice president. The remaining $167,000 in funding came from the SCP Buffalo Incubator Innovate NY Fund, which is one of seven investment funds across the state that participate in the $45 million Innovate NY fund that aims to promote innovation and entrepreneurship.

CrowdBouncer is part of the Z80 Labs business incubator in downtown Buffalo.


There are no comments - be the first to comment