The Finnish defining media-platform builder BCaster has collected 1.2 million euros funding in record time. Via Privanet’s and FundedByMe’s crowdfunding platform the funding was completed fast and one million was collected in less than 24 hours. This crowdfunding round was just for previously registered investors from Finland and abroad.
BCaster’s story started at last year’s Slush event where the company collected a 250,000 euro fund just three weeks after the opening of the pre-seed round. The state innovation fund center Tekes has also been financing BCaster’s technology development during the past year. The collected crowdfunding raises the total amount of financing to nearly two million euros. At the moment there are just over 100 owners and the three co-founders are still the main owners, owning two-thirds of the company.
CEO Janne Neuvonen says that after the successful crowdfunding round the company will now concentrate on the global launch which is going to be held in March at the South by Southwest event. The company is recruiting to prepare for the launch.
”It’s hard to develop a unique product for the world’s markets and find the funding for it, if you keep quiet about it”, says Neuvonen.
”We have a group of investors that believe in us and with their help we have been able to fight against time and develop fast. We are grateful for that, and our purpose now was to start a private round of funding for all who had registered beforehand, and then open it up to everyone after one week. In the end, we couldn’t open it to the public because bookings were already over 170% after the first couple of days.”
BCaster is a global media platform which allows people to monetize their content but at the same time maintain their online privacy. BCaster helps media houses access real material before it spreads via other media channels. With BCaster’s AI-based technology you can also verify content and avoid fake news.
To finish off the year, BCaster is taking part in the following events: Sport IP in Valencia, Slush in Helsinki and Tech Crunch Disrupt in Berlin.