Episencial (Los Angeles, Calif.), a company that makes natural skincare products for babies, has raised $200,000 through the crowd-funding website CircleUp. According to a Women’s Wear Daily (WWD) article linked on CircleUp’s website, Episencial took 14 days to raise the capital from 18 accredited investors. Episencial has also raised $300,000 via more traditional routes, from Jeffrey Hollender, Seventh Generation Inc. co-founder, and Philip Schlein, former CEO and president of Macy’s California. Episencial has roughly $1 million in annual revenues, WWD reported.
CircleUp is an online social marketplace that supports direct equity investments from individual investors in privately held consumer and retail companies. A recently released report by Massolution concluded that crowdfunding platforms raised almost $1.5 billion and funded more than one million campaigns in 2011 (including non-profits and causes); North America was the largest market for fundraising at $837 million. CircleUp founder Ryan Caldbeck was a presenter at NCN’s Health & Wellness Investor Forum II in Washington DC in Spring 2012.
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