JOBS Act Fuels Growth at WealthForge

RICHMOND, Va., Sept. 22, 2014 /PRNewswire/ -- WealthForge, a leading technology provider for raising private capital online, announced today that there are 67 active deals being tracked on its transaction engine, totaling $240 million across multiple client channels. To help support the increased activity, the Richmond, Virginia-based company has also opened offices in New York and San Francisco, with plans to open an additional office in Los Angeles by the end of the year.

"Based on our research, there is more private capital being raised through WealthForge right now in aggregate that has ever been raised online," said Mat Dellorso, CEO and Co-Founder of WealthForge, which also operates as a broker-dealer. "We have only just scratched the surface and foresee big things to come."

In January 2014, WealthForge facilitated one deal for $750,000, four months after the implementation of Title II of the Jumpstart Our Business Startup (JOBS) Act. By June, there were seven deals listed for $10 million, and more than $200 million in the pipeline by August.

WealthForge's technology allows private companies and funds to raise capital entirely online, bypassing traditional fundraising methods that can be both time and cost-intensive.

WealthForge's brokerage has been behind several high-profile private offerings, including a $1.5 million capital raise for Kittridge Hotel & Resorts in July. Kittridge then invested the proceeds to support improvements at the Hard Rock Hotel Palm Springs.

"The JOBS Act has been an important catalyst for moving a traditionally offline process online," said Fred Bryant, COO and Co-Founder of WealthForge. "We are committed to helping companies speed up their funding processes and dramatically reduce the cost of onerous administrative work."

WealthForge has been a member of the Financial Industry Regulatory Authority (FINRA) since 2011.

About WealthForge
WealthForge automates private placements making it more efficient for private entities to secure capital. As a licensed broker dealer, WealthForge offers secure technology and white label solutions to streamline the process of raising capital online while reducing back office costs. WealthForge's transaction engine provides a secure online environment for viewing diligence materials, the execution of required documents, the exchange of cash for securities, and the issuing of securities with CUSIPs for book-entry transfers. The process occurs virtually through WealthForge's clients' websites, allowing for a seamless integration and providing a cost effective alternative to offline securities investing. To learn more about WealthForge, please visit: www.wealthforge.com.

SOURCE WealthForge