Last week, Black Web 2.0 continued the discussion on startups and securing funding. As stated before securing funding can be a difficult biggest obstacles is ensuring that your company gets in front of the right people. Luckily, there’s a website that can make the search a little easier task.
ChubbyBrain.com is a data collection site that assists entrepreneurs in locating venture capitalists, angel investors, grants and other sources of funding. The site also features data on small business and startup trends, as well as the challenges that entrepreneurs encounter on the way to success. According to its About page, the ChubbyBrain team understands the growing pains of starting a company. After launching right before the recession settled in and releasing what they described as a “first product that SUCKED really bad,” ChubbyBrain has survived the hard knocks, improved its wares, and remains 100% bootstrapped.
The site has recently relaunched and is unveiling its latest product, the Funding Recommendation Engine (FRE). Described as “pattern-matching in reverse,” FRE takes a business’ data including funding required, location and entrepreneur experience and uses an algorithm to determine which investors the entrepreneur should reach out to. When searching out investors, FRE examines the investor/funding institution’s actual investment past, not what it lists on its website.
Where does all this data come from? FRE uses CB Insights and mines through 8,000 investors and funding organizations that have made an investment in a private company in the past two years. If you’re unfamiliar with CB Insights work, check out our article on the breakdown of Internet startup founders.
So why should entrepreneurs use FRE?
- Investor serendipity – Use FRE to uncover investors that entrepreneurs may have never have heard of or discovered. With 8000 investors in our database who’ve made at least one investment in the last 2 years, it’s fair to say that there are many new investors the FRE can uncover for an entrepreneur.
- Reverse due diligence – Arm entrepreneurs with information on investors so they can determine if that investor is suitable for them, i.e. have they invested in a competitor for example? Reducing the information asymmetry which currently exists is good for both entrepreneurs and investors as the right entrepreneurs pitching the right investors is a win for both sides.
- Efficiency – The FRE does the work of identifying investors that would otherwise take days/weeks and does it in 5 minutes
The Funding Recommendation Engine is currently in closed beta, but the Chubby Brain team is letting Black Web 2.0 readers get a sneak peek at what FRE can do. If you’re interested in locating funding for the next big tech startup, here’s what you do.
- Go to ChubbyBrain.com
- In the invite code box, enter bw2 and click the green button
From there FRE should start and you’re one step closer to locating that VC or angel investor you’ve been searching for.
Please share your thoughts on ChubbyBrain and the Funding Recommendation Engine in the comments section. Happy Hunting!Category: Entrepreneur, Featured | Tags: angel investors, CB Insights, chubbybrain, Entreprenuers, funding, Funding Recommendation Engine, Startups, Venture capitalists