Musistic raised $200,000 from three financial backers almost two weeks ago according to information disclosed by the company. The non-brokered equity offering was fully subscribed. No securities were previously sold under a registration exemption with the SEC. The company is backed by Start Co. a Memphis based accelerator.
The company is marketing a plug-in application (app) designed by and for musicians for remote collaboration. Musistic allows digital audio workstation (DAW) users to remotely collaborate asynchronously regardless of the platform they are using. The software which works with almost every DAW on the market, is using the industry standard virtual studio technology (VST) and/or Audio Unit format. The plug-in is sold with cloud storage space for a price ranging from $10 to $200 a month.
James Lattimore, (Chief Executive Officer) leads the Memphis TN based company which was registered in 2013. Musistic elected to keep its revenues undisclosed.
The executive team includes Brian Wentzloff, Justin Olita and Vince Rogers. The board of directors includes Everett Stephens, John Ogle and Roger D. Strange.
Industry: Other Technology
Amount offered: $200,000
Amount placed: $200,000
First sale: 2014-01-31