First close of $265,000 announced by Data Connect Corp on its $500,000 offering


A first close of $265,000 was initiated by Data Connect Corp on its fundraising effort started last month. 53% of the $500,000 non-brokered equity offering was placed with sixteen investors. The company will attempt to raise an additional $235,000 in funding before the end of the offering a year from now. Data Connect Corp closed one previous financing on the US private placement market, raising $450,000.

The company markets and develops trade show data management software solutions. While the company focused on the food distribution industry, the software was developed to serve the  hardware and healthcare distribution markets. The application (app) provides the ability to pre-register, pre-book, target items to customers, and negotiate deals prior to a trade show. At the event, a number of services are offered, including: registration, ordering via touchscreen Point-Of-Sale computers, electronic lead collection, reporting, additional rebate negotiation, prize redemption, and drawings.

The company is headquartered in Centennial CO. Data Connect Corp reported revenues on or below $25 million for the latest fiscal year. The executive team includes Tim Hobbs, Micheal Center, Jeff Sease and Lynda Tarufelli. The board of directors includes Donna Hobbs, Richard Bruck, Ronald Rubino, Elizabeth Campbell and Russell Henderson.

Offering recap:
Status: First close
Company: Data Connect Corp
Industry: Other Technology
Amount offered: $500,000
Amount placed: $265,000

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