RALEIGH – CrowdfundNC acquired Boon in December 2020, which developed software to help two-sided marketplace companies grow.
CrowdfundNC disclosed the acquisiton in a U.S. Security and Exchange Commission filings under its corporate name of LiveVested.
In an interview with WRAL TechWire, Will McGuire, founder and CEO of CrowdfundNC, explained that two-sided marketplaces, such as Uber and Airbnb, serve both gig workers or owners and their customers. “We acquired Boon to support the next Ubers of the world, the next two-sided marketplace founders,” he said.
Boon developed software and operational readiness for two-sided marketplaces. Boon first launched as a marketplace platform focusing on the on-demand, healthcare temporary staffing space. As COVID-19 evolved, the company leveraged its unique and “surprisingly sophisticated” (according to FastCTO) platform to scale into a plethora of alternative verticals outside of dentistry and healthcare.
Combining CrowdfundNC investability readiness through tools and guidance with Boon’s focus on two-sided marketplaces, the acquisition expands access to critical assets and experience for two-sided marketplace founders.
“Joining efforts allows us to serve a very unique set of entrepreneurs aiming to create Uber-like marketplaces with products and services essential to everyone,” McGuire said.
“Combined with the rise of ‘Grownup Kickstarter’ investment platforms, a world exists where these founders may leverage this additional access to funding and everyday people are able to share in the potential rewards of capitalism while helping these companies grow.”
Ryan Vet, founder of Boon said at the time of the acquisition, “At the outset of Boon, it was my goal to create a trailblazing platform that would revolutionize the gig-economy through practicing good. Initially, my perspective along with that of our early investors focused solely on healthcare. However, with the evolution of the US and global economy throughout COVID-19, we quickly embraced the opportunity to have a much more significant impact with our innovative technology.”
All of Boon’s staff are now working with CrowdfundNC.
“We want to build a landing spot for two-sided marketplace companies. We focus on NC-based companies, so we’ll start in NC with people here, but we want to help any founder.”
McGuire notes that CrowdfundNC is not a platform used to obtain crowdfunding, but rather helps startups through the process of becoming investable. One surprise, McGuire said, is that some startups go through the process and realize they don’t really need to raise capital.
Crowdfunding regulations are changing to permit companies to raise more and test the waters.
“It’s a new world,” McGuire said.