$11.15 million financing completed by Forward Networks

forward networksA $11.15 million unregistered equity financing by Forward Networks successfully drew to a close. The non-brokered investment round was placed among nine investors. The subscription started one month ago. This is not the first time the company files unregistered securities with the SEC according to a concurrent filing.

The company is in stealth mode developing software defined networking tools to improve networking for companies of all sizes. Financial backers include Andreessen Horowitz, SV Angel, and A Capital.

David Erickson (CEO) leads the Los Altos CA based company which was registered in 2013. Forward Networks elected to keep its revenues undisclosed.
The executive team includes Brandon Heller.
The board of directors includes L William Krause.

Forward Networks apparently reported having raised $825,000 in a concurrent filing. The offering capped at $825,000.
The company has raised an estimated total of $11.97 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Forward Networks
Industry: Other Technology
Amount offered: $11.15 million
Amount placed: $11.15 million
First sale: 10-17-2014
Data as of: 11-25-2014

For more information visit www.XDATA.co


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