Kwicr’s offering lures eighteen backers

q factor communicationsSo far eighteen investors participated to Kwicr‘s $4.3 million non-brokered financing round. Financial backers bought, one month ago, 78% of the offering or $3.34 million worth of equity. Based on the offering’s structure, the company has until October 2015 to raise an extra $953,000. Two previous unregistered financing rounds raised an estimated $1.85 million.

Kwicr develops and markets a software development kit (SDK) that intelligently accelerate mobile network traffic improving the performance of mobile applications and end-users content experience. Investors include Venrock and Sigma Prime Ventures.

The company was registered in 2012 and has its headquarters located in Burlington MA. Kwicr elected to keep its revenues undisclosed.
The executive team includes Mark Duffy and Sean Welch.
The board of directors includes John Simon, Michael Tyrrell, Subhash Roy and Zenas Hutcheson.

The company has raised an estimated total of $5.19 million via private unregistered security offerings.

Kwicr is registered under the name Q Factor Communications

Offering recap
Status: First close
Company: Kwicr
Industry: Telecommunications
Amount offered: $4.3 million
Amount placed: $3.34 million
First sale: 10-08-2014
Data as of: 11-05-2014

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