A first close of $600,000 was initiated by ThriveMetrics on its fundraising effort started two months ago. 60% of the $1 million non-brokered equity offering was placed with nine investors. The offering will remain open until an additional $400,000 is successfully placed. This is the first time ThriveMetrics is raising money on the private placement market. The equity offering’s expected net proceeds will amount to $950,000 which excludes $50,000 to be paid toward officers’ salaries. The company is incubated by Mark Fasciano’s Canrock Ventures.
ThriveMetrics develops an enterprise data analytics technology that uses proprietary algorithms on real-time digital communications -email, IM, enterprise social, etc. – to monitor how companies engage with their customers and how management and employees engage with each other. Mining topics, trends, sentiment, frequency and volume from those real communications, ThriveMetrics aims to measure the health of customer relationships to protect and grow revenue while also measuring the health of internal relationships to drive collaboration and engagement.
The company, headquartered in Hicksville NY, was registered in 2011. ThriveMetrics reported revenues on or below $1 million for the latest fiscal year. The executive team includes Erika Craven (CEO), Natasha Srulowitz (Co-founder), Supriya Garg (Chief Architect) and Steve Skiena (Chief Scientist).
The board of directors includes Mark Fasciano (Co-founder and Chairman), Adam Famularo and Adam Quinton.
Status: First close
Company: Thrive Metrics
Amount offered: $1,000,000
Amount placed: $600,000