Late filer DataMi raised $10.5 million in equity at first close


XDATA – October 6th 2015
Late filer DataMi reported selling $10.5 million or 81% of a new unregistered private offering. A total of seven investors subscribed last May to the company’s $13 million non-brokered equity financing. Based on the offering’s structure, the company has until May 2016 to raise an extra $2.5 million. Until this disclosure DataMi had raised an estimated $4 million in unregistered securities via one previous financing round.
DataMi markets and develops an open platform that enables any application or brand to cover the cost of a user’s mobile data on participating networks. The platform turns mobile data into a flexible tool that can increase engagement, incent trial, and reward loyal users with instant access to toll-free content or data rewards on their bill. It takes just weeks to enable carriers, days to onboard apps or sponsors, and minutes to create campaigns.
The company, headquartered in Chelmsford MA, is led by Harjot S Saluja (President). DataMi elected to keep its revenues undisclosed.
The board of directors includes Donald Hwang, Jeff Samberg, Steve Papa and Wim Sweldens.

The company has raised an estimated total of $14.5 million via private unregistered security offerings.

DataMi is registered under the name Tube.

Offering recap
Status: First close
Company: DataMi
Industry: Other Technology
Amount offered: $13 million
Amount placed: $10.5 million
SEC filing: Source
First sale: 05-26-2015
Data as of: 10-06-2015

 

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