First close of $728,000 announced by Fibroblast on its $800,000 offering

A first close of $728,000 was initiated by Fibroblast on its fundraising effort started last month. 91% of the $800,000 non-brokered equity offering was placed with eleven investors. This is the first time Fibroblast is raising money on the private placement market. The equity offering’s expected net proceeds will amount to $740,000 which excludes $60,000 to be paid toward officers’ salaries.

The company develops a cloud-based medical practice management application (app) for online patient self-scheduling, automated patient notifications, and instant patient cross-referrals. The app purpose is to increase office efficiency, reduce overhead expense, and increase patient satisfaction. Put simply the app allows patients and medical care providers to connect easily and efficiently, enhancing the overall experience and quality of medical care.

Scott Vold (Chief Executive Officer and President) leads the Chicago IL based company which was registered in 2012. Fibroblast reported revenues on or below $1 million for the latest fiscal year. The executive team includes Andrew Albert. The board of directors includes Christopher Capps and Jordan Dolin.

Offering recap:
Status: First close
Company: Fibroblast
Industry: Other Technology
Amount offered: $800,000
Amount placed: $728,000

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