Female entrepreneur raises over US$3m from crowdfunding (not VCs)
Katherine Krug is the founder and CEO of BetterBack, a company that builds devices that address lower back pain. Krug raised $3 million forher business through crowdfunding, bypassing investors.
After putting in $10,000 of her own cash into the development of the product, she headed to Kickstarter to secure pre-orders, launched in 2014, and she’s now raised over $3 million through crowdfunding. Over $1 million of this was raised via Kickstarter, making Krug the first solo female entrepreneur to do so. With no outside investments thus far, Krug argues that crowdfunding is an ideal platform for female entrepreneurs who have only been able to secure a small slice of investment money.