|Change: offered +53% / raised +91% / placed 85%|
|Locuslabs upped its mezzanine financing by 53% to $1.3 million following additional commitments. An additional $525,000 worth of securities was placed by the company with seven investors since the company last released data last August. This brings to $1.1 million the amount raised from the fifteen backers who subscribed to the offering. The subscription is structured to close once the 15% left is fully subscribed or in six months at the latest. This is the first offering by Locuslabsdone under a registration exemption.|
|Locuslabs markets and develops an platform that leverages indoor location technologies such as iBeacon and Wi-Fi to provide maps, navigation, rich search, and location. The company is launching its first product designed for airports.|
|Campbell Kennedy (President) leads the San Francisco CA based company which was registered in 2013. Revenues were not reported.
The executive team includes Jason McMinn and Samuel Ziegler.
Status: Intermediary close
Amount offered: $1.3 million
Amount placed: $1.1 million
SEC filing: Source
First sale: 07-25-2014
Data as of: 01-02-2015
One investor bought $100,000 worth of debt securities from Avenace. The subscription occurred two days ago. The offering has no fundraising cap and the company may elect to raise additional funds until the offering closes in April 2015. The company expects $174,000 worth of proceeds will be used toward the payment of officers’ salaries. A prior unregistered securities offering which raised an estimated $450,000 was completed by the company.
The company developed a mobile application called PlaceProps for users to record, map, and share information about places of value to them. The application while being free is monetized by the company for audience measurement of physical places. The company built an exchange for businesses to analyse traffic patterns such as demographic and frequency at specific locations. The data is collected from opt-in real consumers.
The company, headquartered in Seattle WA, is led by Roger D Percy (President). Avenace kept its revenues undisclosed.
The executive team includes Penelope Chambers Percy and Roger Cameron Percy.
The company has raised an estimated total of $550,000 via private unregistered security offerings.
Industry: Other Technology
Amount offered: N/A
Amount placed: $100,000
First sale: 04-01-2014
Data as of: 04-03-2014