Co Everywhere, formerly known as BlockAvenue, launched its $1 million convertible promissory note and closed on $550,000 with five investors last Thursday. The company will attempt to raise an additional $450,000 in funding before the end of the offering a year from now. Two previous financing rounds initiated by Co Everywhere raised an estimated $1 million.
The company develops and launched last week a mobile application (app) for hyperlocal data aggregation and filtering. The app allows users to draw an area ,which can be as large as a city or as small as a building, on a map . The app will then aggregate information from 1400 different online sources to give the user a picture of what has happened, is happening and will happen within that specific area.
Anthony “Tony” Longo, Jr. (Co-founder, President and CEO) leads the Boston MA based company which was registered in 2011. Co Everywhere elected not to disclose its revenues. The executive team includes Dan Adams (Co-founder and CTO), Ian Ynda-Hummel (Mobile app) and Melki KO (Business development). The board of directors includes Philip Soloman.
Status: First close
Company: Co Everywhere
Industry: Other Technology
Amount offered: $1 million
Amount placed: $550,000