From Crowdfund Insider:
Investment crowdfunding platform StartEngine has announced a significant investment from SE Agoura Investment LLC, a company associated with Aubrey Chernick who is also the founder of NextGen Crowdfunding. According to the announcement, the new capital will be used to boost awareness and grow the equity crowdfunding site. StartEngine has recently launched several high-profile equity crowdfunding campaigns under Title IV, or Reg A+ of the JOBS Act. StartEngine is expected to incorporate Title III crowdfunding as soon as the new exemption becomes live in May of 2016.
Chernick is a recent participant in the booming internet finance sector having launched NextGen last year. But Chernick is no novice entrepreneur having created the highly successful software firm Candle Corporation. In 2003, Chernick was named Software CEO of the Year by the Technology Council of Southern California in recognition of his pioneering work in developing world-class, systems management software. Candle Corporation was acquired by IBM in 2004. At that time, it had more than 5000 customers in 60 different countries. Chernick is also a prominent philanthropist having supported diverse charities such as the Children Uniting Nations.
Also, on Dow Jones VentureWire/Wall Street Journal (subscription required):
StartEngine Crowdfunding Inc. has raised $5.5 million in Series A funding in a bid to bring equity funding from the public, not just accredited angel investors, into businesses.
StartEngine’s Series A funding comes from an investment vehicle of a Los Angeles tech entrepreneur and philanthropist, Aubrey Chernick.
Mr. Chernick, who now runs a crowdfunding education and events business, NexGen Crowdfunding, said he believes equity crowdfunding will be transformational to alternative finance for businesses.