$500,000 raised by Groupology as part of its mezzanine investment round


lifestreams technologiesGroupology (AKA Lifestreams Technologies Corp.) disclosed selling 25% of its non-brokered mezzanine financing. The company launched a $2 million investment round subscribed so far by seven investors. The subscription which raised $500,000 started two days ago. The offering will remain open until March 2015 while an additional $1.5 million worth of securities is sold to investors. The mezzanine offering’s estimated net proceeds will amount to $1.44 million which excludes $560,000 to be paid toward officers’ salaries. Unregistered securities don’t appear to have been previously sold by the company.

The company developed a mobile application (app) for college students to create “by-invitation” only private groups where members can exchange messages and chats, post events, documents, media, and to-dos lists almost instantly. Everything posted to the stream is seen by all members as a timeline with a past and a future, creating a narrative of group experience even as members change over time. The app is available for iOS.

The company, headquartered in New Haven CT, was registered in 2013. Revenues were not reported.
The executive team includes Daniel Gelernter and Piotr Prosol.
The board of directors includes David Gelernter, Eric Freeman, Jeffrey Samberg, Michael Satow and Trevor Hines.

Offering recap
Status: First close
Company: Lifestreams Technologies
Industry: Computers
Amount offered: $2 million
Amount placed: $500,000
First sale: 03-31-2014
Data as of: 04-01-2014

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