Investors buy $30* million worth of NetBrain Technologies’ equity


netbrainNetBrain Technologies disclosed placing 75% of its $40 million non-brokered equity. Based on the filing, four investors started to subscribe to the $30 million first close a little over a week ago. Based on the offering’s structure, the company has until April 2015 to raise an extra $10 million. It appears to be the first time the company is filling a security offering under a registration exemption. Summit Partners announced the growth investment on April 8th and the company on April 11th, however none of the press releases mentioned the investment size.

The company designed and markets an automation solution for networking professionals. The product focuses on simplifying and reducing the efforts associated with designing, documenting and troubleshooting complex networks by employing a map as underlying tool. The map-based automation technology is designed to empower professionals with improved information to make better decisions about their networks.

The company, headquartered in Burlington MA, is led by Lingping Gao (President). NetBrain Technologies elected to keep its revenues undisclosed.

The executive team includes Weilie Ma.
The board of directors includes Lizuo Jin and Peter Knudson.

Offering recap
Status: First close
Company: NetBrain Technologies
Industry: Other Technology
Amount offered: $40 million
Amount placed: $30 million
First sale: 04-07-2014
Data as of: 04-14-2014

*Somewhat outside Random Research’s sweet spot but the investment amount hasn’t been broadcasted yet.

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