Campus Sentinel, Inc. successfully placed 65% of its $500,000 non-brokered debt offering with thirteen investors as part of a funding agreement signed last month. The company expects to raise an additional $175,000 to close the offering within a year.This is the first known offering initiated by the company on the US private placement market.
The company offers a free mobile application (app) for iOS (iPhone/iPad operating system) that allows users instant access to campus security data for approximately 4,400 universities and colleges in the United States that report crime data to the US Department of Education in accordance with the Clery Act. In addition, the app allows users to access a resource desk with information on a range of topics. An equivalent app raised almost $500,000 in convertible debt this past June as part of a $1 million private placement. At the time, the company called LiveSafe was about to release an iOS beta version of its mobile app.
The company, headquartered in Richmond VT, was founded in 2011 by Gary J. Margolis and Steven J. Healy.
The executive team includes Spencer Newman (CFO) and Scott Brightwell (Project Management & Client Relations).
The board of directors includes Robin D Richards along with Gary J. Margolis and Steven J. Healy.
Status: First close
Company: Campus Sentinel, Inc.
Industry: Other Technology
Amount placed: $325,000