Algorithmic is in the market with a $2.92 million financing round

algorithmic Algorithmic is expecting to raise $2.92 million as part of a non-brokered equity issuance. The company structured the offering to remain open until January 2016 if not fully subscribed. No securities have been subscribed by investors yet. Until this disclosure Algorithmic had raised an estimated $700,000 in unregistered securities via one previous financing round.
Algorithmic markets and develops an iPhone application that automatically groups photos in meaningful and titled events, removes duplicates by selecting the best one and creates an ad-hoc collage to display them.
The company, led by Emmanuel Marot, is headquartered in Bellevue WA. Algorithmic elected to keep its revenues undisclosed.
The executive team includes Gilad Golan.
Offering recap
Status: Launched
Company: Algorithmic
Industry: Other Technology
Amount offered: $2.92 million
Data as of: 01-13-2015

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