According to a document filed by Quantance with the SEC, the company launched a $9 million non-brokered equity offering. So far Quantance sold 67% or $6 million worth of new unregistered securities to ten backers. The subscription started one month ago. $3 million in additional funding can be raised before September 2015 based on the placement’s structure. A total of five unregistered securities offerings closed by the company raised an estimated $42.53 million.
The company, headquartered in San Mateo CA, is led by Vikas Vinayak (CEO). Quantance elected to keep its revenues undisclosed.
The executive team includes Vikas Vikayak.
The company has raised an estimated total of $48.53 million via private unregistered security offerings.
Status: First close
Industry: Other Technology
Amount offered: $9 million
Amount placed: $6 million
First sale: 09-11-2014
Data as of: 09-26-2014