Physical data storage security company launches $500,000 mezzanine offering

ITADSecurity, Inc., has started fundraising activity for $500,000 in convertible debt. The company, which is not using a placement agent, is looking for a maximum of 50 investors. The company estimates around $50,000 of the gross proceeds will be paid to officer salaries as part of the usual course of business. ITADSecurity, Inc., raised already a total of $430,000 in equity in two rounds from 7 investors in February and November 2012. The company develops and markets platforms to “keep an eye” on data and inventory physical hard drives, tape cartridges, USB devices, laptops and mobile phones. It’s main product called WatchDog provides operational infrastructure intelligence, risk mitigation, instant audit trail reporting and storage device lifecycle management. The company, registered in Delaware in 2012, is lead by Robert F. Rinaldi (CEO and COB) and is headquartered in Natick, MA. It currently has revenue below $1 million. The original company was founded in November 2010 as IT Asset Disposition Services and changed its name to IT Asset Data Security in August 2011.


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