The equity crowdfunding regulations allow for each company to raise up to $2m from retail investors in any 12 month period. The key point of these regulations is to remove the requirement for a regulated “product disclosure statement” when offering shares to retail investors. This change drastically reduces the cost of making a public offer, and allows you to open up your offer to the wider equity capital market.
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A company can raise more than $2m if the balance comes from “wholesale investors”. For example Squirrel Group raised over $3.4m through Snowball Effect, with up to $2m allocated to retail investors and the rest from wholesale investors.