Tagged: hardware

Big Switch Networks’ $23.5 million offering lures eighteen backers


XDATA – June 26th 2017
So far eighteen investors participated to Big Switch Networks‘ $23.5 million non-brokered financing round. Financial backers bought, on June 9th, 88% of the offering or $20.71 million worth of equity. Based on the offering’s structure, the company has until June 2018 to raise an extra $2.79 million. The company closed three previous unregistered private placements which raised an estimated $79.66 million.
Big Switch Networks markets and develops hyperscale-inspired networking technologies. The company is taking three key hyperscale technologies — OEM/ODM bare metal and open Ethernet switch hardware, sophisticated SDN control software, and core-and-pod data center designs — and leveraging them in fit-for-purpose products designed for use in enterprises, cloud providers, and service providers. Investors include Morgenthaler Ventures, Silver Lake Waterman, Index Ventures, Khosla Ventures, Redpoint Ventures, Accton, CID Group and MSD Capital.
The company, headquartered in Santa Clara CA, is led by Douglas Murray (President). Big Switch Networks elected to keep its revenues undisclosed.
The executive team includes Kyle Forster.
The board of directors includes Bill Meehan, Bruce Armstrong, Dan Warmehoven, Gary Morgenthaler and Mike Volpi.

The company has raised an estimated total of $100.38 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Big Switch Networks
Industry: Other Technology
Amount offered: $23.5 million
Amount placed: $20.71 million
SEC filing: Source
First sale: 06-09-2017
Data as of: 06-26-2017
Similar transactions
2016-08 Tempered Networks files for first close after raising 95%
2016-06 $40 million worth of equity securities were sold by EIP Investment Holdings
2016-05 Protocol Labs files $3.73 million final close
2016-05 Trusted Knight is in the market with a $3.8 million financing round
2016-05 $12.25 million financing completed by Kollective Technology

Roku reports issuing $45.5 million worth of equity


For more information visit http://www.XDATA.co
XDATA – January 29th 2016
Roku placed $45.5 million worth of securities as part of a non-brokered equity financing round. The placement, which started a couple of months ago, lured a total of fourteen subscribers. A total of seven unregistered securities offerings closed by the company raised an estimated $125.07 million.
Roku designs, markets, manufactures and develops streaming entertainment devices for TVs. The company’s streaming platform features a vast collection of entertainment channels available for streaming. Its streaming players and its streaming stick are sold through major retailers in the US, Canada, the UK and the Republic of Ireland. Additionally, the company works with TV manufacturers to create co-branded Roku TV models. Financial backers include Globespan Capital Partners, Menlo Ventures, Luminari Capital, and Hearst Ventures.
The company is headquartered in Saratoga CA. Roku elected to keep its revenues undisclosed.
The executive team includes Anthony Wood, Matthew Anderson, Stephen Kay, Steve Louden and Steve Shannon.
The board of directors includes Alan Henricks, Daniel Leff, Jeff Hastings, Ravi Ahuja, Ray Rothrock and Shawn Carolan.

The company has raised an estimated total of $170.57 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Roku
Industry: Other Technology
Amount offered: $45.5 million
Amount placed: $45.5 million
SEC filing: Source
First sale: 11-09-2015
Data as of: 01-28-2016

CoinTerra reports successful placement of its mezzanine securities


XDATA – August 15th 2014

cointerraA $960,000 unregistered mezzanine investment round initiated by CoinTerra was subscribed by forty-three financial backers. According to the information disclosed, the placement started on August 1st and was fully subscribed. One prior placement was closed under regulation D by the company and raised an estimated $1.3 million.

The company is a hardware and software developer that designs, produces and operates systems for the mining of bitcoin. The company also offers mining contracts for maintenance free mining, contracts prices range between $1,000 to $1.5 million for a 12 month contract.

The company was registered in 2013 and has its headquarters located in Austin TX. CoinTerra kept its revenues undisclosed.
The executive team includes Jaime Edwards, Pradeep Kumar Cheruvathoor, Ravi Iyengar, Sunny Kalara, Tamas Blummer and Timo Tobias Hanke.
The board of directors includes Jean Belanger.

The company has raised an estimated total of $2.26 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: CoinTerra
Industry: Computers
Amount offered: $960,000
Amount placed: $960,000
First sale: 08-01-2014
Data as of: 08-15-2014

For more information visit www.XDATA.co

$500,000 unregistered debt financing and first close reported by CirrusWorks


cirrusworksCirrusWorks disclosed hitting the market to raise $500,000 via debt issuance. $75,000 has already been subscribed by one financial backer. The non-brokered placement started on February 24th. An additional $425,000 in funding is to be raised until the offering draws to a close in February 2015. This is the first debt financing done by the company under a registration exemption.

CirrusWorks is a hardware and software company marketing its network management solution. It is designed to allow IT personnel to classify users, apply session rules and dynamically allocate network bandwidth based on users and needs. The company offers two products. The plug-and-play Governor series is for data congestion control and wide area network (WAN) optimization. The Edge series is a next generation cloud-managed network access control and user policy enforcement tool.

The company, headquartered in Washington DC, is led by David Giannini (Founder and CEO). Cirrusworks kept its revenues undisclosed.
The executive team includes Michael Lovett (Founder and President).
The board of directors includes Bradley C Harrison and John Lapides.

Offering recap
Status: First close
Company: CirrusWorks
Industry: Other Technology
Amount offered: $500,000
Amount placed: $75,000
First sale: 02-24-2014
Data as of: 03-10-2014

Subscriptions to VirtualU’s equity issue increased


Change: offered +0% / raised +29% / placed 67%

virtualuVirtualU reported in a document filed with the SEC that its $500,000 equity offering is 67% subscribed as of the filing date. Prior investors ponied up an additional $80,000. They had previously subscribed to $260,000 in securities according to another filing disclosed today. So far, ten backers committed $340,000 to VirtualU’s offering. The offering’s expected net proceeds will amount to $170,000 which excludes $340,000 to be paid toward officers’ salaries. The subscription will close either once the offering is sold in full or in one month, whichever one comes first. The company had disclosed a first close of $150,000 in May 2013 that was reported by Random Research.

It seems the company’s marketing approach was refined since we last reported on the company. At the time we thought the focus was on fashion and apparel online shopping, but it seems its first technology application is for the fitness market. VirtualU builds scanners to digitalize human bodies as well as consumer products in order to integrate them into interactive online environments. The company came out with VFit to track users body changes. The scanner is available at select gyms for now. It takes ten seconds for the scanner to render a hyper-realistic model of the users and their key statistics including: height, weight, BMI, fat %, lean muscle mass, waistline and resting heart rate. The users can monitor data from their smart phones and even share it with their personal trainers. With nine million + data points captured the application will report the slightest changes to users.

Louis Cirillo (President and CEO) leads the Blacksburg VA based company which was registered in 2012. Revenues were not reported. The executive team includes Caroline Pugh (COO) and Nicholas Gagianas (CMO – Chief Modeling Officer).

Offering recap
Status: Intermediary close
Company: VirtualU
Industry: Other Technology
Amount offered: $500,000
Amount placed: $340,000

VirtualU, Inc. raised $150,000 in equity from 8 investors


VirtualU, Inc. is in the market with a $500,000 equity offering. No placement agent was hired for the offering which has a minimum investment threshold of $15,000 per investor. It is estimated that $60,000 of the offering’s gross proceeds will be paid toward founders’ salaries. The company, founded in May 2012, is headquartered in Blacksburg, VA and was converted from LLC in August 2012. It has no revenues yet.

VirtualU, Inc. builds scanners to digitalize human bodies as well as consumer products in order to integrate them into interactive online environments. The company also offers rendering solutions and user interface (UI) to improve customers’ experience while apparel shopping online, specifically recommending the right size and rendering clothes on models with accurate physics. The company, advised by Gucci, focuses on the fashion, fitness, and gaming industries. It was founded and is led by Louis Cirillo (CEO), Caroline Pugh (COO) and Nicholas Gagianas (CMO – Chief Modeling Officer).