“We are trying to unite everyone who shares this vision to create a more transparent funding landscape,” Stofer says. With RateMyInvestor’s recent acquisition of KnowYourVC, the growing team is working to set a higher standard for VC/angel investors, while helping one entrepreneur at a time.
SAN DIEGO (PRWEB) November 07, 2018
Everyone is talking about the problems in the venture capital world but few people are doing anything about it. With all of the recent scandals sweeping the industry, one question remains: Which investors should entrepreneurs trust with their business?
The team behind RateMyInvestor thinks the answer to this question is right in front of us.
We live in a review-based society. From the food you eat to the car you drive, chances are your choice was driven by online reviews. Although this is common practice for consumer goods, its application to the VC and investment world has been, until now, almost non-existent. RateMyInvestor, along with KnowYourVC (recently acquired), is changing that with a platform dedicated to providing a birds-eye-view of the maze that is raising capital.
RateMyInvestor Co-founders, Austin Stofer and Bennett Quintard, realized the need for this type of a product while raising capital for another venture. “With so much focus going to the investor’s due-diligence process, why weren’t the founders doing the same?” Quintard says, “Performing your own due-diligence on an investor is just as important.”
The idea behind RateMyInvestor is simple: find investors, leave reviews, and learn from the experiences of others. RateMyInvestor is a space where entrepreneurs and businesses can talk about their interactions with investors. It’s this transparency through reviews that holds investors accountable. Reviews help entrepreneurs potentially dodge bullets, redefining the funding and due-diligence process for startups.
But RateMyInvestor isn’t an investor bashing tool. “We have to hold these reviews to very high standards and vett them very carefully,” Stofer says. “This is not a revenge platform, but a place where founders and investors can come together to break down the fundraising barrier.” RateMyInvestor shines a positive light on ethical investors while helping entrepreneurs avoid the nefarious ones.
A big problem requires a big response. “We are trying to unite everyone who shares this vision to create a more transparent funding landscape,” Stofer says. With RateMyInvestor’s recent acquisition of KnowYourVC, the growing team is working to set a higher standard for VC/angel investors, while helping one entrepreneur at a time.