Cloud productivity plug-in for Salesforce, KiteDesk, raised $635,000 in equity at first close


kitedeskKiteDesk reported selling 51% or $635,000 of a new unregistered private offering. A total of seven investors subscribed on March 4th to the company’s $1.25 million non-brokered equity financing. $615,000 in additional funding can be raised before March 2015 based on the placement’s structure. The equity offering’s estimated net proceeds will amount to $950,000 which excludes $300,000 to be paid toward officers’ salaries. The company is filing for the first time a security registration exemption with the SEC.

The company designed a cloud productivity plug-in that seeks to contextualize end-user online experiences and integrates it with Salesforce. KiteDesk does this by turning websites and social platforms into programmable and searchable data streams of useful and interconnected information. The app allows users to update contacts from websites automatically into Salesforce and increase connections by inviting others to join. Tools include an algorithm that measures relationship data across social media, collaboration and client relationship management (CRM) databases for easy lead ranking.

The company, headquartered in Tampa FL, is led by John Kennedy (CEO). Kitedesk elected to keep its revenues undisclosed.
The executive team includes Jared C Rodriguez.
The board of directors includes Daniel S Aegerter, Sigmund Mosley and Stewart Bertron.

Offering recap
Status: First close
Company: KiteDesk
Industry: Computers
Amount offered: $1.25 million
Amount placed: $635,000
First sale: 03-04-2014
Data as of: 03-18-2014

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