Fan-owned entertainment company Legion M has raised more than $1 million through its Title III crowdfunding offering on Wefunder. More than 3,000 people contributed in less than three months.
At the time the campaign closed Legion M said it was the number one company in total investment interest and demand. Demand exceeded the $1 million SEC-mandated funding cap.
“Legion M shareholders worldwide are celebrating this significant milestone we achieved together,” Legion M cofounder and CEO Paul Scanlan said.
Legion M’s creative partners include Stoopid Buddy Studios, the Robot Chicken team, 42 Entertainment, Meltdown Comics and Alamo Drafthouse.
“I was impressed with how Legion M’s fans rallied to help them hit the $1 million milestone eight days early,” Wefunder CEO Nick Tommarello said. “We designed Wefunder for companies looking to build a stronger relationship with their most passionate customers, who are eager to help their companies succeed.”
CrowdCheck CEO Sara Hanks said Legion M fits the mold of a successful crowdfunded company.
“The real power of equity crowdfunding is having an investor base that can increase the value of your company, and Legion M is one of the best illustrations of that so far.”
Legion M president and cofounder Jeff Annison has several successful raises behind him.
“Having raised in excess of $100 million from VCs and angel investors for previous companies, we can attest that equity crowdfunding is a game changer. It’s not just a way to raise money – it’s a whole new paradigm for building a company.”
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