Community Funded Enterprises raising $2 million

FORT COLLINS — Community Funded Enterprises Inc., an online and mobile funding platform that can be customized for different organizations, is raising $2 million.

The company filed a Form D with the U.S. Securities and Exchange Commission on Feb. 12. The funds are being raised through an equity offering and will likely be oversubscribed, said CEO and co-founder McCabe Callahan.

Community Funded Enterprises makes crowdfunding technology that can be licensed to universities, nonprofit and for-profit organizations. Rather than use a platform like Kickstarter or GoFundMe, a university can use Community Funded’s platform and have it customized to them, limited to their students and alumni, have just the projects they select and allow for tax-deductible donations. University administrations can decide if they want to limit it to their own campaigns or allow students to fundraise for research, club sports or service trips. Universities using the platform include Penn State, the University of Minnesota and Texas State.

“This is a showcase for the great stories going on in universities,” Callahan said. “It’s crowdfunding and is now expanded to being used for giving days and giving events. It provides  holistic digital engagement and a fundraising solution.”

To support its growth — Community Funded has expanded beyond universities to organizations like the Boy Scouts of Colorado, the Denver Zoo and international deals — the company made key hires for its sales and marketing teams.

The funds raised, which have reached about $1.9 million so far, will be used to provide more runway to the company as it moves to reach profitability at the end of the year.

“We’ve created a whole new paradigm of who organizations engage in their community and fundraise,” Callahan said. “We’ve called out the power of empowering the community to engage their resources with the best ideas.”

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