Reg CF 2023 - Top Platforms and Year in Review

Check out the 2023 annual stats for Reg CF including amount raised, top platforms, average check sizes, and more.


2023 Reg CF year in review:

  • In 2023, Reg CF companies raised $420 million total - down 0.7% from $423 million in 2022

  • $1.7 billion total has been raised under Reg CF since 2018: $1.57 billion (92%) in equity, SAFEs, and Convertible Notes, and $154 million (8%) in debt and revenue-share securities.

  • The top two platforms alone - Wefunder ($132M) and StartEngine ($117M) - raised an astounding 59% of all 2023 Reg CF dollars. Dealmaker Securities claimed the third spot this year at $33.8 million, and Republic rounded out the top four at $30.7 million. 

  • 1,434 companies launched new raises in 2023. Of companies that closed, 1,157 companies successfully hit their minimum goal, while 314 companies (~22%) did not successfully hit their minimum goal.

  • The average successful Reg CF raise in 2023 raised $366k in an average of 4 months (121 days)

  • Successful raises on the top 10 platforms raised from an average of 408 investors and saw an average check size of $1190

  • 11 companies that closed in 2023 hit the maximum Reg CF limit of $5 million

  • Reg A companies (i.e. excluding Reg A fractionals and real estate) raised $225 million in 2023, roughly half of Reg CF in 2023 and down from $391 million in 2022

To dig deeper into 2023’s annual summary in Reg CF, you can read Brian Belley’s feature here HERE

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Brief: Simple Kneads offers a unique gluten-free bread line, eschewing commercial yeasts, starches, fillers, gums, and allergens typical in other breads. Utilizing an ancient method, their breads are made with a fermented starter, ensuring natural fermentation. Varieties include sourdough, pumpernickel, quinoa power grains, and cinnamon raisin, available online and in select retailers nationwide. It’s raising $1.2M with a valuation cap of $20M and a minimum investment of $150.

Key People: Simple Kneads is led by CEO, co-, founder and Chief Baker Tristaun LeClaire. With over nine years of experience at the company, LeClaire has committed his career to the product. LeClaire's passion for creating nutritious and delicious organic sourdough bread has driven the success of Simple Kneads.

Interested in Simple Kneads? Access the deal report HERE 🔓📈


Here's what we like: Simple Kneads is well-positioned for success in the gluten-free bakery market with its nutritious and plant-based bread. The company's commitment to high-quality ingredients and excluding starches, fillers, gums, and allergens sets it apart from competitors. With a loyal customer base and a reported quarter-over-quarter growth of 22%, Simple Kneads is experiencing strong demand and is expected to generate $5.5 million in sales in 2023.

The company’s artisanal approach to breadmaking, using a fermented flour and water mixture with wild yeast and good bacteria, appeals to the gluten-free consumer and health and wellness communities. By focusing on traditional methods and avoiding commercial yeasts, Simple Kneads can deliver a product that is not only flavorful but also beneficial for health.

Despite being in the pre-profit phase, Simple Kneads has demonstrated strong revenue growth, with an annual revenue of $3.6 million and a growth rate of 16.37%. The company has strong and growing retail presence will only further contribute to revenue growth.

Finally, at a $20 million valuation, investors in this round are getting in at a good price, especially in the context of recent traction.

Here's what we don't: Simple Kneads operates in a competitive food, beverage, and restaurant market. It competes with well-established brands like Udi's, Happy Campers, Canyon Bakehouse, Schar, and Little Northern Bakehouse, which already have a significant share of the gluten-free bread market. These competitors have established distribution networks and brand recognition.

Additionally, while Simple Kneads has reported quarter-over-quarter growth of 22% and expects to generate $5.5 million in sales in 2023, it is important to note that the gluten-free market is relatively niche compared to the broader food industry. As such, the potential for sustained rapid growth may be limited. 

Would you invest in Simple Kneads?

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In this episode of Inside Startup Investing, Chris engages with Tom Bassford, the founder and CEO of EquityVest. EquityVest, a burgeoning Reg CF platform, sets itself apart by focusing on faith-driven investments. The platform aims to connect faith-driven founders and investors to support innovations that advance the world positively. The episode delves into the nuances of faith-aligned investing, emphasizing that it's not confined to regular churchgoers but rather to anyone inclined towards value-driven investments. The discussion also touches on EquityVest's unique approach to addressing societal issues and supporting marginalized communities.

Listen to the full episode here


(Rated 3.5 or higher)

Containing Luxury, valued at $15 million, is crowdfunding on StartEngine to create eco-friendly, affordable container homes. These homes offer a flexible, comfortable solution to housing challenges, including affordability and hurricane safety.

  • Pre-Money Valuation: $15 million

  • Minimum Investment: $101

Plat Du Jour Bistro has evolved from a catering company to managing the historic Wenham Tea House. Offering a fusion of classic French and Mediterranean cuisine, tasting menus, events, and traditional afternoon tea, they aim to blend tradition with a unique culinary experience. Founded by Tara Prescott in September 2020, the business is seeking $50,000 to $110,000 for renovations, retail stocking, initial payroll and expenses, and equipment purchases.

  • Rev Share Percentage: 1.40%

  • Minimum Investment: $100

Place Technology, Inc. introduces PlaceCPM, a financial platform transforming financial forecasting, reporting, and workforce planning within organizations. Integrating RevOps in Salesforce enhances Sales, Revenue, Billing, and Finance collaboration. The company saw a 64% revenue increase in 2023 and user base expansion.

  • Valuation Cap: $20 million

  • Minimum Investment: $100