Initially, AngelList started out as a community of entrepreneurs that shared information with potential investors. However, the company has evolved beyond being just a social network. It now provides several tools for the startup community, such as job boards, accelerator application tools, and even an online investment platform.
The new funding, if true, is said to place AngelList’s valuation near $150 million. Another reason for the investment could be due to the recently revised SEC regulations that now permit startups to announce that they’re raising funding, and can even accept funding provided that the investors are officially registered. And AngelList could be a leader in helping forge those new investments online.
The new round of funding, according to Fortune’s report, was led by Atlas Ventures and Google Ventures, with participation from Kleiner Perkins Caufield & Byers, Draper Fisher Jurvetson, Marc Andreessen, Max Levchin, Ev Williams, and up to 100 others. The reason it took on so many investors was so that it didn’t appear impartial to any one party, according to the report.
Thus far, AngelList hasn’t made an official announcement about the round, and VentureBeat is reaching out to the company comment.