“When I was running my first business, updating shareholders on progress was a pain in the behind,” says Duane Jackson, Founder of Supdate. So he developed software to maker it easier, and after selling that business, he set up Supdate. The idea: “to build a tool to help other businesses use this process and take the pain out of monthly updates.”
Now Crowdcube has bought Supdate. “Through this new product, Crowdcube funded companies will be more connected with their shareholders than ever,” it says.
Supdate itself says: “Good communication with your team and your shareholders is not only the professional thing to do, but it also ensures you can get help when you need it, that you’re held to account for your goals and performance and perhaps more importantly it significantly increases your chances of raising finance in the future.”
Armed with the Supdate product, Crowdcube says that it can advance its strategy of developing an ecosystem of services for entrepreneurs and investors using its platform. In addition to the Supdate product, the Crowdcube platform includes access to Amazon’s Launchpad Programme, to allow them to fully benefit from their crowdfunded raise.
Darren Westlake, Co-founder and CEO of Crowdcube commented: “Crowdcube has funded over 600 companies, averaging 350 investors each and so ensuring businesses can easily connect with their shareholders to keep them updated is really valuable to our investor community. We’ve been fans of Supdate for a long time, and when we recently began talking with Duane in more detail, it quickly became obvious that Supdate would be a natural fit for Crowdcube and our growing Funded Club.”
Duane Jackson, Founder of Supdate added: “Collaborating with a crowdfunding platform is an obvious route to market for Supdate, which is why I why approached the best in town – Crowdcube. Conversations about how we could work together quickly progressed to Crowdcube’s acquisition of Supdate, given their focus on connecting companies with their shareholders. Entrepreneurs are in safe hands with the team at Crowdcube and I’m pleased that Supdate will now be made available to more people through the work they do.”
Crowdcube will give its alumni of over 600 funded businesses access to Supdate, as well as providing ongoing access to Supdate’s existing customer base.