50% of Lagrange Systems‘ $3 million unregistered private offering was placed on November 20th. The non-brokered equity securities were subscribed by three investors. The first close garnered $1.5 million. $1.5 million in additional funding can be raised before November 2015 based on the placement’s structure. Two previous unregistered financing rounds raised an estimated $5.56 million.
Lagrange Systems develops and markets its CloudMaestro solution, a complete, fully scalable Software-as-a-Service application delivery network (ADN) that improves the speed, availability and reliability of web and mobile applications for small and medium businesses (SMB). The solution delivers intelligent traffic optimization, predictive right-sizing, self-healing, web content acceleration and security in a single unified application delivery fabric, which provides faster site speed indexes while nearly eliminating downtime. Financial backers include Grotech Ventures and Mohr Davidow
The company was registered in 2012 and has its headquarters located in Boulder CO. Lagrange Systems elected to keep its revenues undisclosed.
The executive team includes Ed Roberto, Emily Friedberg, Gail Pierce and James T Smith.
The board of directors includes James T Smith and Joe Zell.
The company has raised an estimated total of $7.06 million via private unregistered security offerings.
Status: First close
Company: Lagrange Systems
Industry: Other Technology
Amount offered: $3 million
Amount placed: $1.5 million
SEC filing: Source
First sale: 11-20-2014
Data as of: 12-05-2014