$45 million equity placement completed by InvestCloud


XDATA – October 7th 2015
InvestCloud disclosed raising $45 million as part of a non-brokered equity private placement. One investor acquired the securities a week ago. The equity offering’s expected net proceeds amount to $31.55 million excluding $13.45 million earmarked for the payment of officers’ salaries. The company closed three previous unregistered private placements which raised an estimated $9.85 million.
InvestCloud markets an all-in-one cloud-based outsourcing solution for the financial services industry. The company develops and deploys custom, scalable solutions with pace setting efficiency for asset managers, fund of funds, investment advisors, and the managers of pensions and endowments. These high-impact business solutions collaborate seamlessly with other technologies such as custodians and line-of-business applications, processes, and even allow businesses to leverage their existing infrastructure.
The company was registered in 2013 and has its headquarters located in Beverly Hills CA. InvestCloud elected to keep its revenues undisclosed.
The executive team includes Colin Close and John Wise.
The board of directors includes Jp Whelan and Richard Garman.

The company has raised an estimated total of $54.85 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: InvestCloud
Industry: Other Technology
Amount offered: $45 million
Amount placed: $45 million
SEC filing: Source
First sale: 09-30-2015
Data as of: 10-07-2015

 

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