Crowdtilt has closed a $12 million Series A funding round. The round was led by Andreessen Horowitz, with participation from Sean Parker, SV Angel, DCM, as well as CrunchFund, Alexis Ohanian, Elad Gil, Naval Ravikant, Sam Altman, Matt Mullenweg, Dave Morin and Justin Kan. Jeff Jordan, partner at Andreessen Horowitz and former CEO of OpenTable, is joining Crowdtilt’s board of directors.
Launched in February 2012, San Francisco-based Crowdtilt is a way for groups to pool money online. Funded by Y Combinator, SV Angel, Crunch Fund, DCM Ventures, Paul Buchheit, Alexis Ohanian, among others, the company was founded by James Beshara and Khaled Hussein.
Crowdtilt’s API, currently in closed beta, also allows anyone to create their own crowdfunding application, such as group payments, pre-sales commerce options, complete standalone crowdfunding applications or even social fundraising sites.