Verb Gets $2.3M

Austin-based Verb, a new startup focused on running competitions to drive social entrepreneurship, said this morning that it has raised $2.3M in a seed funding round. Verb was co-founded by Suzi Sosa and Tom Meridith, out of the University of Texas, where they had helped run the Dell Social Innovation Challenge.

Funding came from angel investors, including co-founder Meredith, as well as John Thornton (Austin Ventures), Bobby Epstein (Circuit of the Americas), Matthew Dowd (Paradox Capital), David Hunt (Petro-Hunt L.L.C.), Herbert Simon (Simon Property Group), Zita Cassizzi (TOMS Shoes), Kurt Wilkins (HireBetter), Donna Wilkins (Charity Dynamics), Marc Winkelman (Calendar Holdings LLC), Andrew Bursten (Coastal Telephone Co.), Lance Fors (LFI Properties), Pamela Ryan (Tingari-Silverton Foundation), Dan & Lisa Graham (Graham Family Foundation), and Walter Wilkie.

The company said the new funds will go towards expansion, product development,a nd strategic hires. Verb develops a platform which lets corporations and foundations reach out to social entrepreneurs around the world, helping to run competitions to solve big social problems.