Illuminate Education Holdings raised $26.5 million as part of a fully subscribed non-brokered equity offering. The subscription, which started almost two weeks ago, lured six investors. The equity offering’s estimated net proceeds amount to $26.17 million excluding $335,000 earmarked for the payment of officers’ salaries. No offering was previously initiated by the company under a registration exemption with the SEC.
Illuminate Education Holdings markets and develops a cloud-based platform for educators offering a suite of modules including a student information system (SIS), a special education system, and a data and assessment management system. The company is backed by Insight Venture Partners.
The company, headquartered in Irvine CA, was registered this year. Revenues on or below $25 million were reported byIlluminate Education Holdings.
The executive team includes Lane D Rankin and Scott G Hickson.
The board of directors includes Abram Jimenez and Nikitas Koutoupes.
Company: Illuminate Education Holdings
Amount offered: $26.5 million
Amount placed: $26.5 million
SEC filing: Source
First sale: 11-21-2014
Data as of: 12-02-2014