StartEngine Raises $5M For New Crowdfunding Effort

Los Angeles-based StartEngine has raised $5M in funding, according to the company, from SE Agoura Investment LLC (Aubrey Chernick). StartEngine, the onetime startup accelerator, has remade itself as an online, equity crowdfunding site, helping companies to raise money via crowdfunding. Chernick is the former founder of software company Candle Corporation, which he sold to IBM back in 2004. StartEngine is led by Ron Miller and Howard Marks, and got its start as a startup accelerator.