AngelSoft 3.0 Launches

September 2, 2008   

I want to send a big congrats to my friends at AngelSoft for their launch of AngelSoft 3.0 today.

I think this fact is cool: One can now say that there is a "common application" for Angel funding in the startup space -- a common application real angel investors will actually look at!

From a business development perspective, this is where all the work they've been doing for the last four years comes together. In fact, I think this release, and the progress of their company, is an important for all startups to take a look at.

In the "online communities for startups and investors" space there were a lot of wannabes. There are some sites which have no problem getting entrepreneurs to sign up and bear-all on their site, but real investors have never come to browse through their pages to "source" deals -- not when there are so many of them, and their sites give investors nothing else to work with -- so deals on those sites never get looked at and never get funded.

AngelSoft saw this problem and set-out to first solve the problems of angel investors. By creating a state of the art work-flow system for angels and angel groups, AngelSoft made itself invaluable to these investors. Over the course of four years, the team got over 400 groups, and over a dozen VCs, organized and working more efficiently using the AngelSoft Platform.

Then, earlier this year, the team launched a way for these groups to accept deals from a general pool of deals called OPEN-deals.

Today, AngelSoft 3.0 brings all this together by launching the AngelSoft Investor Community comprised of:

  1. The work-flow system Angel networks have been using and loving for 4 years
  2. A way for these groups to syndicate deals to one another
  3. A way for entrepreneurs to submit their deal to the same space Angels are syndicating deals (formerly OPEN-deals)
  4. And now a way to apply to any angel group in the world from one place, the AngelSoft Directory

Where all this goes from here is anyone's guess. But what's obvious is that AngelSoft has gone farther and built smarter than anyone else in this space. By getting investors on board first, AngelSoft teaches us to get the high-value customers on board and happy first. Now, as AngelSoft reaches out to entrepreneurs to bring them closer to the funding process, they're already showing promise by processing over 2,000 deals a month.

Congrats AngelSoft guys and gals!

Disclosure: AngelSoft is a portfolio company of Rose Tech Ventures, where I am the Entrepreneur in Residence

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