Site-survey application developer in the market with $500,000 mezzanine offering


SurveySnap, Inc. placed $15,000 of its $500,000 non-brokered mezzanine offering with two investors as part of a funding agreement signed last month. The company expects to raise an additional $485,000 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 received $25,000 from The Abell Foundation as part of a seed financing.

SurveySnap developed a site-survey application (app) with real time collaboration for the architecture, engineering and construction industry. All users need is their tablet device to take photos, notes, sketches, audio/video and “Smart-Pin” them to specific areas of a floor plan while walking through a building. The app automatically creates professional looking PDFs and web presentations that can be shared. A portfolio of all the projects are backed up in the cloud and are accessible on any device or web browser. The app is currently in private beta testing.

SurveySnap, Inc., registered in 2013, is headquartered in Columbia MD. It is led by Ryan Sears (Founder, President and CEO). SurveySnap elected not to disclose its revenues. The executive team includes Christopher Dail (Founder).

Offering recap:
Status: First close
Company: Surveysnap, Inc.
Industry: Other Technology
Amount offered: $500,000
Amount placed: $15,000

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