According to a document filed by Socrata with the SEC, the company launched a $35 million non-brokered equity offering. So far Socrata sold 86% or $30 million worth of new unregistered securities to ten backers. The subscription started almost two weeks ago. Based on the offering’s structure, the company has until November 2015 to raise an extra $5 million. Until this disclosure Socrata had raised an estimated $18.37 million in unregistered securities via one previous financing round.
The company is headquartered in Seattle WA. Socrata elected to keep its revenues undisclosed.
The executive team includes Dan Wassel and Kevin Merritt.
The board of directors includes Jai Das, Robert A Runge, Scott Darling, Scott Maxwell and Susan Carstensen.
The company has raised an estimated total of $48.37 million via private unregistered security offerings.
Status: First close
Industry: Other Technology
Amount offered: $35 million
Amount placed: $30 million
First sale: 11-14-2014
Data as of: 11-25-2014