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
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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