New article
Recently updated
Using the Crowdfunding database
Who is this article for?
Users who want to learn about the Crowdfunding database.
No elevated permissions are required.
The Crowdfunding database provides information about capital formation activities under Regulation Crowdfunding and Regulation A, covering issuers since 2015 and 2016 respectively.
1. Understanding the database overview
The Crowdfunding database tracks capital formation activities under two key regulations:
- Regulation Crowdfunding (effective since 2016) allows smaller issuers to raise up to $5 million in a 12-month period through securities-based crowdfunding
- Regulation A (effective since 2015) permits issuers to raise up to $75 million in a 12-month period, with two tiers of offerings
The database includes data related to issuer characteristics, offering activities, and the amount of capital raised. Data coverage includes Regulation A issuers since 2015 and Regulation Crowdfunding issuers since 2016.
Common uses include:
- Analyse trends in capital formation among smaller issuers
- Identify emerging sectors and investment opportunities
- Understand the impact of Regulation Crowdfunding and Regulation A on small business growth and economic development
- Benchmark fundraising activities against industry standards
2. Accessing the database
The Crowdfunding database is available online and through data feeds (Feed 94) with the relevant subscription.
- Saved Search Alert: Yes
- Daily Summary Email: No
3. Understanding collection methodology
The Crowdfunding database is a fully automated data set collecting disclosures filed with the SEC. This data is sourced from the following form types: Form C, Form C/A, Form 1-A, Form 1-A/A.
Each record contains information about the type and value of security offered, the target offering amount, target number of securities, price per security, and the intermediary and sales provider associated with that disclosure.
Note: Source fields may vary by form type. Not all data points are available in both Form C and Form 1-A filings; this is noted in the data dictionary where applicable.
A Crowdfunding section has been added to the company profile page for issuers included in this database.
4. Searching the database
The Crowdfunding search page offers the following filters:
| Name | Description | Data Dictionary Field(s) | Sort By? |
|---|---|---|---|
| Search by CIK Code | Filter results to a specific population of issuers | CIK | Yes |
| Type of Security Offered | Filter by one or more types of security offered: Common Stock, Debt, Equity (common or preferred stock), Preferred Stock, or Other | Type of Security Offered | No |
| Target Offering Amount | Filter by a range of the total dollar value of the offering | Target Offering Amount | Yes |
| Offering Year | Filter by the year of the offering | Offering Year | Yes |
| Revenue | Filter by a range of the issuer's total revenue for the most recent fiscal year | Revenue | Yes |
| Audited | Filter by whether the issuer's financial statements have been audited | Audited | No |
| Assets | Filter by a range of the issuer's total assets for the most recent fiscal year | Total Assets | Yes |
| File Date | Filter by a range of dates of when the filing was submitted to the SEC | Filing Date | No |
| Issuer Location | Filter by the issuer's current business address location(s) | State Name, Region, County | Yes |
5. Viewing and exporting results
Results can be viewed at the bottom of the page. The following are accessible through clicking the respective hyperlinks:
- Crowdfunding Data Dictionary download
- CSV file download of the results (all fields available in the CSV are defined in the Data Dictionary)
- Overview of the individual issuer's company profile
6. Understanding additional database information
This database covers both Regulation Crowdfunding (Form C) and Regulation A (Form 1-A) issuers. Form C data includes fields not available in Form 1-A, and vice versa; refer to the data dictionary for field-level availability notes.
The Amendment field indicates an amended Form C filing; the Nature of Amendment field describes the reason for the amendment.
Intermediary Compensation refers to total fees paid to the intermediary (Form C) or underwriter (Form 1-A). Sales Provider Name and Sales Provider Fees are available for Form 1-A only.
Auditor name, auditor fees, law firm name, and legal fees are available for Form 1-A filings only.