EquityNet LLC secured $2.1 million in a new funding round with Proton Enterprises as the lead investor. Angel investors also participated in the financing, according to Dow Jones.

The latest financing brings EquityNet's total raised capital to $5 million. The company will use the money to expand its equity crowdfunding platform, the report added.

Crowdfund Insider cited EquityNet founder and chief executive officer (CEO) Judd Hollas sharing the company's plans: "With an additional $2.1 million in funding and a rapidly growing population of entrepreneurs, investors, and institutions, EquityNet is uniquely positioned to expand into the enormous new emerging market for Title III crowdfunding. Title III will open up our platform to millions of new investors that can access opportunities that were previously only available to high net-worth individuals."

EquityNet was one of the world's pioneers in the crowdfunding industry. Bitvore Corporation and other firms have used EquityNet's tools to plan for its businesses and attract investors, the report stated.