A first close of $250,000 was initiated by Kenxus on its fundraising effort started this month. 50% of the $500,000 non-brokered mezzanine offering was placed with five investors. The company expects to raise an additional $250,000 to close the offering within a year. This is the first known offering initiated by the company on the US private placement market. The mezzanine offering’s expected net proceeds will amount to $375,000 which excludes $125,000 to be paid toward officers’ salaries.
Kenxus makes video watching shoppable. The company developed a patented process that enables video viewers to have immediate information on the products they see and buy them in searchable portals. The integration is seamless, keeps viewers and consumers at their original point of entry and opens the door to assessing the real impact of product placement on sales.
Jeff M. Haber (Chief Executive Officer) leads the Austin TX based company which was registered in 2012. No revenues were reported for the latest fiscal year.
The executive team includes Kristin E. Haber (President).
Status: First close
Amount offered: $500,000
Amount placed: $250,000