Fundraising FoxCrowdability
New York, US · Founded 2014 · 2 known investors
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Crowdability provides education, software, and independent research to help individual U.S. investors evaluate and invest in private, pre-IPO startups. Its offerings include newsletters, video courses, and paid research services such as CrowdabilityIQ, Private Market Profits, and Income Unlimited that rate and recommend private market deals.
Also known as Crowdability Inc · Crowdability, Inc.
Founders & leadership
Crowdability was founded in 2014 by Wayne Mulligan, Matthew Milner, and Matt.
Investors · 2
How we know: the VCSheet dataset · research · vcnewsdaily.com · Not right? Tell us
Also in the syndicate · 1
Reported raises · per SEC filings
Form D private placements$2.6M disclosed across 2 of 3 rounds · 2014–2015
▶$1.6MraisedAug 2015 · 11 investors · OtherRule 506(b)
- Wayne MulliganExecutive Officer, Director, Promoter
- Matthew MilnerExecutive Officer, Director, Promoter
- Offering amount
- $3.1M
- Amount sold
- $1.6M
- Minimum investment
- $5K
- First sale
- Aug 2015
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
▶$1MraisedApr 2014 · 11 investors · OtherRule 506(b)
- Matt MilnerExecutive Officer, Director, Promoter
- Wayne MulliganExecutive Officer, Director, Promoter
- Offering amount
- $1M
- Amount sold
- $1M
- Minimum investment
- $5K
- First sale
- Feb 2014
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Crowdability is a New York-based education and research publisher focused on private-market and equity crowdfunding investments for individual investors. It publishes a free email newsletter and website that aggregate and organize startup deals from across the web, alongside educational essays and research reports. Beyond equity crowdfunding of startups, the company also covers other securities-based opportunities including real estate, art and collectibles.
The company's stated mission is to inform and protect individual investors who have gained access to private offerings under the JOBS Act and related SEC rule changes, by supplying education, software and independent research. Its premium offerings include the Early-Stage Playbook, a 12-video course on the investment process used by venture capitalists; CrowdabilityIQ, software providing ratings, rankings and research on hundreds of startup deals; Private Market Profits, a research service delivering one private startup investment recommendation per month with minimums generally of a few hundred dollars; and Income Unlimited, a premium service focused on private-market opportunities targeting annual yields of 8%, 12% or more.
Editorial output follows a set weekly schedule published at 11:00 AM Eastern: a Weekly Deal Digest on Monday, an article by Matt Milner on Wednesday, a bi-weekly article by Brian Eller on Thursday, and a Weekly Headline Digest on Friday. Deal write-ups on the site profile individual offerings, covering company background, team, revenue model, traction, raise size, valuation cap, minimum investment and offering type.
Founding story
Co-founders Wayne Mulligan and Matthew Milner concluded that the JOBS Act would benefit startups, investors and the economy, but that inadequately educated individual investors could lose significant money. Milner had worked at investment banks including Bear Stearns, Citicorp and Lehman Brothers before founding startups, one of which was acquired by Hearst, where he then served as Entrepreneur-in-Residence; Mulligan's prior financial education business, serving over 250,000 individual investors, was acquired by a global financial publisher in 2011. Their shared interest in startups and experience with retail investors led them to launch Crowdability.
Business model
Crowdability operates a financial publishing model: a free website and email newsletter build an audience of individual investors, which is monetized through paid premium products, including a video course (Early-Stage Playbook), subscription software (CrowdabilityIQ) and paid research services (Private Market Profits, Income Unlimited). The free newsletter signup also carries special offers from the company and its affiliates.
Paid subscriptions and one-time purchases of educational courses, research services and deal-rating software, supplemented by affiliate offers promoted to newsletter subscribers.
Traction
The company describes its free newsletter audience as thousands of subscribers and its CrowdabilityIQ software as covering hundreds of startup deals from across the web. It continues to publish newsletter articles on a multi-day weekly schedule, with dated posts appearing through August 2026.
Latest developments
Recent newsletter articles published in August 2026 address venture capital concentration in AI and defense companies, SpaceX-related startup activity and strategies for competing with venture capitalists. The team page lists Matthew Milner as Founder, Brian Eller as Associate Publisher and George Zhao as Director of Technology, and Milner as Chief Investment Officer of the Private Market Profits and Income Unlimited services.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
The company positions itself as the first independent education and research service dedicated to the equity crowdfunding market, which at its 2014 launch it sized at $300 billion, and describes Private Market Profits as the first research service offering actionable private-market deal recommendations to all investors.
Independence from the funding portals whose deals it covers, combined with a proprietary rating and ranking software layer (CrowdabilityIQ) and a stated investor-protection orientation, plus founders' backgrounds spanning Wall Street investment banks, operating startups and venture investing.
Technology
CrowdabilityIQ is the company's software product, providing ratings, rankings and research on hundreds of startup deals sourced from online funding portals. The technology function is led by a Director of Technology previously in lead developer and CTO roles at financial publishers.
Go-to-market
Free email newsletter and open-access website content used for audience acquisition and lead generation, with paid research services and courses sold to that subscriber base; deal digests and headline digests are distributed on a fixed weekly publishing schedule.
Individual, non-institutional U.S. investors — including those newly eligible under the JOBS Act — who want to invest small amounts in private, pre-IPO startups and other securities-based alternative assets.
Geography
Headquartered in New York, NY, with a focus on U.S. individual investors and U.S. securities regulation (JOBS Act, SEC rules); deal coverage includes companies located across the United States.
History
Crowdability formally launched in June 2014 in New York alongside a $1 million seed round, positioning itself as an independent research and education service for equity crowdfunding, and released a free 47-page Equity Crowdfunding Action Kit at launch. It planned to use the seed proceeds to build education programs and research services for individual investors. Since then it has added a video course, the CrowdabilityIQ deal-rating software, and the Private Market Profits and Income Unlimited paid research services. Matthew Milner is described today as Founder of Crowdability and Chief Investment Officer of Private Market Profits and Income Unlimited.
Risks & controversies
Public materials cite historical private-market return figures — 58% annually over 25 years attributed to Cambridge Associates, and a 55% annual return for diversified early-stage portfolios — and reference potential outcomes such as earning thousands of times invested capital, framing that may overstate expected results for retail investors in an asset class the company itself describes as risky for inexperienced participants. Deal profiles also carry company-supplied projections and valuations.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 2
launches, deals, and filingsCrowdability announced a $1 million seed financing to build education programs and research services for individual investors. Participants included Howard Lindzon of StockTwits and Social Leverage, and Steadfast Venture Capital.
$1M source ↗
Crowdability formally launched in New York as an independent education and research service targeting the equity crowdfunding market, publishing a four-day-a-week newsletter with educational essays and a digest of equity crowdfunding deals, and releasing a free 47-page Equity Crowdfunding Action Kit.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Crowdabilitycrowdability.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Crowdability do?
- Crowdability publishes education, software and independent research helping individual investors evaluate private, pre-IPO startup deals.
- Who founded Crowdability?
- Crowdability was founded by Wayne Mulligan, Matthew Milner, Matt in 2014.
- Who are Crowdability's investors?
- Crowdability's investors include Social Leverage.
- How much funding has Crowdability raised?
- Crowdability has disclosed $2.6M raised across 2 of its 3 known rounds.
- Where is Crowdability headquartered?
- Crowdability is headquartered in New York, US.