Angelsoft, a New York based company that develops a platform for connecting early-stage investors and entrepreneurs and managing investment deal flow, has released a significant update to its software and is finally opening up its network to VCs next to angel investors.

When the company released version 3.0 last September, the upgrade was centered more about making it easier for early-stage investors to sift through entrepreneur applications, search and rate them, etc.

The new version is called Angelsoft 3.4 and comes with 317 updates (release notes), most of them bug fixes, but also introduces a number of features including a nifty ‘Tripit’ style one that enables users to e-mail in deals to a default e-mail address. The company says that most key features have been added to make it easier for VCs to manage deal flow, but that there was also a lot of improvements for angel investors.

Angelsoft was started in the fall of 2004 by David S. Rose, Chairman of the New York Angels, and Ryan Janssen. The company claims to currently cater to 442 angel groups and VCs, 14,852 investors, with 3,100 startup applications coming in a month. Angelsoft’s public stats show that 1,32% of the applicants ultimately get funded, but also that the activity on the network is definitely picking up.