IAngels Records Second Exit

Just a couple of months after announcing Big Blue Parrot as its first investment exit, Israel-based co-investment crowdfunding platform iAngels, revealed on Thursday that portfolio company Flayvr, operating as My Roll, was acquired by security software giant AVG Technologies NV (NYSE:AVG). Details of the transaction were not released.

iAngels is an equity crowdfunding site that always pairs accredited investors with “top performing early stage investors” on identical terms.  The strategy of matching professional investors with smaller retail investors is gaining credence in the crowdfunding space as the preferred model.

With the acquisition, AVG will add Flayvr’s Gallery Doctor app, which identifies and removes bad photos on Android and iOS, to its existing AVG Cleaner product, developed by the team at AVG’s new Mobile Center of Excellence in Tel Aviv. The product integration will be completed in Q1 2016, and made available to AVG’s global mobile customer base at that time.
Mor Assia, a founding partner at iAngels, shared:

“Global corporate demand for Israeli innovation is higher than ever before. For U.S. investors to profit from this market dynamic, they need a trusted partner in Israel who has visibility and access to the deal flow of Israel’s most successful angel investors.”

Flayvr was founded by Ron Levy and Adi Ashkenazi in 2012. After reaching initial traction, Flayvr went on to raise $2M from Moshe Lichtman, Kaeden Capital, iAngels, and other influential Israeli investors to grow its user base and enhance the platform.

Shelly Hod Moyal, a founding partner at iAngels, also noted:

“Successful angel investing is all about having an edge. In light of the SEC’s approval of Title III of the JOBS Act, U.S. investors must think about which equity crowdfunding platform can provide them with an exclusive edge. Having influence on your side is the only way to be successful in angel investing.”