Do you need to get funded?

Here's something new to the mix. Used to be that VC's rated tech start-up's. Now, a new start-up called TheFunded rates the VC's. TheFunded.com claims to be a community of leading entrepreneurs from around the world of over 1,000 entrepreneurs and CEO's that provides inside information on funding sources.

Here's how the model works. The Funded offers a directory of venture capital firms and investors that members can comment on and rate on a scale of 1 to 5. The identity of the site's proprietor is unknown, but its attitude -- exemplified by the need for prospective members to provide a good reason as to why they should be granted membership could be threatening the the VC community to say the least.

TheFunded could be a useful resource if it can attract enough users and its data actually reflects reality rather than the extreme opinions of a few disgruntled reviewers. However, without the qualitative data, I doubt a full picture of a venture capitalist's performance can ever be captured. But it's a start.

This is a great use of organic, user-driven information and social networking at it's best. It's a great idea, I hope it works.