Mode Analytics successfully completed its $550,000 equity offering which started last month. The non-brokered private placement was subscribed by five investors. No previous known private placement was initiated by the company in the US.
The stealth company is developing a better way to analyze data and share results. It is unclear if it is about creating a data-centric social network or if the company develops tools to collect, share and visualize data, however there is certainly an emphasis on the “share”. The goal of the company’s product is to avoid analysts wasting time recreating projects their peers have completed therefore reducing the cost of a data analysis.
The company, headquartered in San Francisco CA, was registered this year. Revenues were not available for the latest reporting period. The executive team includes Derek Steer and Bennett Stancil. The board of directors includes Peter Fishman and Josh Ferguson.
Status: Completed/Final close
Company: Mode Analytics
Industry: Other Technology
Amount offered: $550,000
Amount placed: $550,000