San Diego’s StackIQ Gets First-Day Funding Boost on OurCrowd Website

2/27/14Follow @bvbigelow

StackIQ, which provides Software-as-a-Service for managing “Big Data” computing systems, said today it is the first San Diego startup selected to raise capital from accredited investors through OurCrowd, the online crowdfunding firm based in Jerusalem.

StackIQ, founded in 2006 with technology out of the San Diego Supercomputer Center at UC San Diego, had raised about $470,000 from accredited investors by midday today, the first day it was listed on the OurCrowd website, according to Audrey Jacobs, a San Diego-based OurCrowd executive.

“Bear in mind, by the time we wake up in San Diego, everybody in Israel, South Africa, and Europe has already had the chance to see it,” Jacobs said. OurCrowd says it has 4,000 accredited investors in 53 countries. After establishing investors’ bona fides, OurCrowd grants them access to its website, where investment terms and other details about each deal are listed. Under current U.S. securities law, accredited investors must have a net worth of at least $1 million (not including their home) or annual income of at least $200,000 (or $300,000 if married).

StackIQ has raised a total of $5 million since inception from San Diego’s Avalon Ventures and Anthem Venture Partners, said Joe Markee, a San Diego tech investor serving as StackIQ’s executive chairman. The OurCrowd equity crowdfunding campaign is part of a … Next Page »

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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