A first close of $2.49 million was initiated by Rachio on its $3.38 million equity offering. So far twenty-seven investors committed to the non-brokered placement which started today. Based on the offering’s structure, the company has until October 2015 to raise an extra $895,000. Two previous unregistered financing rounds raised an estimated $1.2 million.
Christopher Klein (President and CEO) leads the Denver CO based company which was registered in 2013. Rachio elected to keep its revenues undisclosed.
The executive team includes Franz Garsombke and Gary Stone.
The board of directors includes Jordan Mendell.
The company has raised an estimated total of $3.69 million via private unregistered security offerings.
Status: First close
Industry: Other Technology
Amount offered: $3.38 million
Amount placed: $2.49 million
First sale: 10-31-2014
Data as of: 10-31-2014