Atlas Ventures vouches AngelList to spur Boston startup seed funding marketplace
In a report by UpStart Business Journal, Atlas Venture partner Jeff Fagnan wants Boston investors and startups to use AngelList. AngelList is a public network platform that allows startups to raise seed capital or funding through a dedicated network.
Data collated via Startup Data Trends showed that only 952 startups in Massachusetts use AngelList. New York ranks first in the number of companies that uses the startup investing network at 3,124, followed by Northern California by 5,254.
"There's definitely a lag behind San Francisco and New York. I think now companies in Boston are understanding that if you've got a round coming together, and you want to round it out, and you don't have access to prominent investors on the West Coast, this is a very good platform and medium" to get that access."
Fagnan recently co-led a seed funding round for AngelList on Monday. AngelList received USD24 million in funding that would go to company expansion and product development.