Seattle ranked fifth in the world and fourth in the United States in a study of money raised by entrepreneurs since 2015 through the popular crowdfunding platform Kickstarter.
Seattleites looking to fund projects through Kickstarter raised a total of $93.9 million between 2015 and 2019, according to the analysis by banking app Tide.
Outpacing Seattle during the period were Los Angeles, at $313.3 million; New York City, $311.2 million; San Francisco, $248.1 million; and London, $127.8 million. Trailing Seattle in the Kickstarter crowdfunding race globally were Chicago, at No. 6, with $79.7 million raised over the period; followed by Atlanta, $75 million; San Diego, $64.2 million; Portland, Oregon, $63.3 million; and Austin, Texas, $58.3 million.
More than 75% of theater and comic-book projects in Seattle reached their Kickstarter funding targets since 2015, according to the study. Fashion projects also were very successful over the period in Seattle, compared with elsewhere in the U.S., with 55% hitting their fundraising targets ― more than in any other U.S. city.
“Seattle company BauBax raised almost $4 million ― a global record for a fashion project ― for their 25-feature travel jacket,” the Tide study notes.
More projects in the United States have met or exceeded their funding target over the four-year period analyzed than in any other country in the world,” the Tide study states. “Between 2015 and 2019, 113,054 projects that had a funding target of at least $100 were successfully crowdfunded.” Those U.S. projects raised a total of $2.5 billion through Kickstarter, with the United Kingdom a distant second ― with 13,825 projects meeting or exceeding their funding target, raising a total of $227.3 million.
The Tide rankings assessed only successfully funded projects with a minimum funding target of $100, with success defined as a project that has reached or exceeded its funding target. The Kickstarter fundraising platform has been in place since 2009 and has helped aspiring entrepreneurs raise some $4 billion for projects around the world, the Tide study says.