# Why did we crowdfund??? | GoBeep, Inc.

- Canonical URL: https://wefunder.com/feed/151262
- Entity ID: wefunder:feed_item:151262
- Published at: 2021-12-22 16:14:58 UTC
- Updated at: 2025-07-09 03:21:17 UTC

## Author
Paul Della Maggiora

## Subject
GoBeep, Inc.

## Content
We've had a number of people ask why we chose to crowd fund this round rather than go through the traditional Venture Capital (VC) route. The answer? Access and control.We needed to raise money to bridge the company as we brought in new business (Life Aid for the military, for example). While sales are growing quickly (thanks Bill and Adam!), entering into new markets requires investment, and that's why we turned to this crowd funding.Working with VC's is tougher with early stage businesses like ours. Especially outside of the big cities (remember, we're in Greenville, SC) VC's want more proof of product market fit in the form of recurring sales, usually with a threshold starting at $500k in Annual Recurring Revenue (ARR). As you can see, we're on the path to that, but not quite there.After investigating the crowd funding space and recent SEC changes that make things easier, we determined that crowd funding was the way to go. We are able to control the terms that we offer for investment, and we are able to control (and protect) the level of dilution our previous investors experience.The other thing crowdfunding brings is access. Being older founders, our networks are pretty rich. Crowdfunding facilitates our ability to reach our networks and our network's networks with ease. Its probably why you're reading this now.All in all, this was a great choice for all involved, and we're so proud to have already hit our goal.