Late filer PBworks disclosed information on its $422,000 issuance of unsecured convertible promissory notes

pbworksLate filer PBworks (FKA PBwiki) reported selling 100% of its debt issuance via a subscription which launched last August. According to the information disclosed, five subscribers ponied up $421,000 out of the $422,000 the company expected to raise. Four previous unregistered financing rounds raised an estimated $10.06 million. The company is backed by early investor Mohr Davidow Ventures via its MDV VIII fund.

The company develops and markets cloud collaboration solutions for businesses and education. The suite of collaboration platforms includes among others AgencyHub, New Business Hub, LegalHub. The platforms are designed so users can share information and assets within the organization or with clients, collect feedback, set schedules, manage meetings, and coordinate activity.

The company is headquartered in San Mateo CA. PBworks kept its revenues undisclosed.
The executive team includes James Groff.
The board of directors includes Arnold Silverman, David Weekly, Konstantin Othmer, Mehdi Maghsoodnia and Roger Sippl.

The company has raised an estimated total of $10.48 million via private unregistered security offerings.

Offering recap
Status: First close
Company: PBworks
Industry: Other Technology
Amount offered: $422,000
Amount placed: $421,000
First sale: 08-29-2013
Data as of: 03-28-2014


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