$1 million unregistered debt financing and first close reported by Synced

syncedSynced disclosed being in the market to raise $1 million via debt issuance. Apparently 15% or $150,000 has already been subscribed by two investors. The non-brokered placement started one month ago. An additional $850,000 in funding is to be raised until the offering draws to a close in April 2015. The company hasn’t previously offered unregistered securities.

Synced designs, develops and markets a mobile software as a service (SaaS) platform geared toward companies to energize their health and wellness programs. The application features tools to engage and motivate employees to be healthy as well as reward them.

Synced, registered in 2014, is headquartered in New York NY. It is led by Andrew Ferenci (CEO). Revenues remained undisclosed.
The executive team includes William S Paladini.

Offering recap
Status: First close
Company: Synced
Industry: Other Technology
Amount offered: $1 million
Amount placed: $150,000
First sale: 04-30-2014
Data as of: 05-30-2014


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