Modern Mast’s offering lures fifteen backers

modern mastSo far fifteen investors participated to Modern Mast‘s $1.15 million non-brokered financing round. Financial backers bought, on May 1st, 90% of the offering or $1.04 million worth of equity. The company doesn’t appear to have previously sold securities under a registration exemption with the SEC. The company is backed by Vaizra Investments, Advancit Capital, BOLDstart Ventures, Social Starts, and Iowa City Capital Partners.

The company’s goal is to help brands better understand, connect and track their relationships with their social media followers and fans. The company developed SocialRank, a cloud-based freemium tool for brands who want to understand, manage, engage, reward, and track the people who follow them via twitter. The premium version costs $25 per month and offers brands daily and weekly reports as well as information on their top 100 followers. The company also offers custom reports.

Modern Mast, registered in 2014, is headquartered in New York NY. It is led by Alexander Taub (CEO). Revenues were not disclosed.

The executive team includes Michael Schonfeld.

Offering recap
Status: First close
Company: Modern Mast
Industry: Other Technology
Amount offered: $1.15 million
Amount placed: $1.04 million
First sale: 05-01-2014
Data as of: 05-15-2014


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