LiveSafe, Inc., raised $498,000 from fifteen investors via a non-brokered $1 million convertible debt placement. This is the first known private placement of LiveSafe done in the US. An estimated $36,000 have been earmarked for salaries payment to executive officers.
LiveSafe is about to release a beta version of its mobile application (app) in sixteen days. The application has been designed with college students and their safety in mind. The user has a choice between reporting incidents (which sending GPS-tagged audio, video, picture or text information to the nearest authorities), send an alert (an alert slider send a message with the user location to campus security and contacts), call emergency numbers or access an interactive social safety map with latest crime reports. The application will first be available for iOS.
The company, located in Arlington VA, was founded in January 2011. The company was founded by Ehsan “Shy” Pahlevani (President) and is lead by Jeffrey Grass (Chairman) known for PayMyBills and BuySAFE, Randy Kleuger (CFO) and Suraj Shetty (Director of Technology).