Tranzlogic LLC, formerly known as Dovetail Data, sold $800,000 worth of equity to three investors domiciled in Mississippi. The offering was placed by Cocker & Palmer, Inc. a large investment adviser and broker with $110 million of asset under management mostly for “regular” and high net worth individuals. The prior equity offering which closed in November 2012 with the addition of Cliff Teston to the board, raised $1 million and paved the way for the recently disclosed partnership between Tranzlogic and Signature Card Services. The company raised an estimated $2.5 million in equity since its start in November 2011.
The company provides electronic payment analytical services via a web portal for small and medium-sized businesses (SMBs). Two products are available, Tranzlogic and Tranzlogic Pro, that use a proprietary process that identifies best customers based on various criteria leveraging credit card transaction data.
Tranzlogic is headquartered in Simi Valley, CA and is lead by Charles Hogan (COB, CEO and president), Anthony Aker (VP and secretary) and Charles Watkins (CTO). The company’s revenues are currently below $1 million.