Rail Yard initiated a first close after raising $750,000 in equity out of an expected $965,200 financing round. Ten investors subscribed to the non-brokered private placement.
The company is offering businesses competitive quotes from multiple telecom and technology service providers. Rail Yard architected an online marketplace to seamlessly connect commercial building tenants with the best information and technology services available at their addresses. The company calls itself the “Lending Tree” for telecom.
Rail Yard, headquartered in Austin TX, was founded in early 2011 and is lead by Christopher “Chris” Harman. The executive team includes Cristi Jakubik (Chief Marketing Officer), Richard Tobey (Chief Technology Officer), and Michael Feeley (Senior Vice President).
Status: First close
Company: Rail Yard
Industry: Other Technology
Amount offered: $965,200
Amount placed: $749,727
First Sale: 10/14/13