Boston Business Journal Online
By Rodney H. Brown
6 January 2012
Brand-focused social shopping startup Krush Inc. has raised $4.5 million in a new funding round from a syndicate of seven investors, according to federal documents.
The filing with the U.S. Securities and Exchange Commission shows that the Series A1 round has no defined top end yet. None of the seven backers are named in the document. In a previous article about the company's first equity funding round, co-founder Gina Ashe said that the investors at that point were all angels, coming from the Boston area, as well the West Coast and outside the U.S.
That first startup financing round, raised in December 2010, was for $2 million.
Ashe was a co-founder at health IT company Sermo Inc. The other Krush co-founders are Alexis Kopikis and Alan Osman. While little information about the company was available at the time of its last fundraise, according to the Krush Twitter profile, users can "Post an item you've wanted. Get the crowd on it and you win it. Easy! Lead the Crowd here at KRUSH.com."
Founded in 2010, Krush has already raised more than $6 million in two funding rounds. Listed as related persons in the new fundraise filing are Eric Satz, a Tennessee-based angel investor, and Harry DeMott, also an angel investor and venture capital partner at New York-based Raptor Capital Management.
A call to Ashe for comment was not immediately returned.
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