Tagged: iPhone

Story telling app developer initiates a first close of $150,000


Backspaces initiated a first close of $150,000 on its $70,000 debt private placement. The first close was subscribed by a single investor. The offering will remain open for a year. This is the first private placement done by Backspaces in the US.

The company developed and markets an application for the iPhone which allows the user to easily tell stories with pictures and words and share them with others on a social network platform.

The company, headquartered in New York City, was founded in 2012 and is led by Adrian Sanders (President). Backspaces elected not to disclose its revenue range.

Offering recap:
Status: First close
Company: Backspaces
Industry: Other Technology
Amount offered: $750,000
Amount placed: $150,000
First Sale: 10/16/13

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Safety mobile app developer hits the market with $1 million convertible debt offering


LiveSafe, Inc., raised $498,000 from fifteen investors via a non-brokered $1 million convertible debt placement. This is the first known private placement of LiveSafe done in the US. An estimated $36,000 have been earmarked for salaries payment to executive officers.

LiveSafe is about to release a beta version of its mobile application (app) in sixteen days. The application has been designed with college students and their safety in mind. The user  has a choice between reporting incidents (which sending GPS-tagged audio, video, picture or text information to the nearest authorities), send an alert (an alert slider send a message with the user location to campus security and contacts), call emergency numbers or access an interactive social safety map with latest crime reports. The application will first be available for iOS.

The company, located in Arlington VA, was founded in January 2011. The company was founded by Ehsan “Shy” Pahlevani (President) and is lead by Jeffrey Grass (Chairman) known for PayMyBills and BuySAFE,  Randy Kleuger (CFO) and Suraj Shetty (Director of Technology).

Alert and deal platform raised $18,000 in equity


ROXIMITY, Inc. raised $18,000 from one investor via an equity offering. The private placement was the third one done by the company since its inception in March 2012. The company raised an estimated $1 million in equity and convertible promissory notes thus far.

The company designed an alert platform that delivers relevant offers based on the user location and preferences. The mobile application (app) is available for iOS and in Ford cars via SYNC for now. The app is free to download for users and the service is available for a fee for merchants.

ROXIMITY is headquartered in Denver CO and was founded by Austin Gayer and Daniel Newman (CEO).

The company’s direct competitor, which was founded in June 2012 is FOMO Media LLC, a company Random Research wrote about in early May.

“sonar & ping” promotion broadcasting app raises 40% of its equity offering


FOMO Media LLC raised $160,000 in equity from four investors as part of a $400,000 direct offering. The company placed successfully a prior $100,000 equity offering in September 2012 from two investors.

FOMO Media LLC, founded in June 2012, is a social marketing and promotion start-up based in Portland, Oregon. The company currently markets the FOMO Sonar application which enables businesses to create and manage promotions specifically for mobile devices. The app leverages the customers’ device location to show promotions of businesses in the area that release exclusive deals, content and information. The “sonar” application is available for the iPhone operating system as well as Android. It is free for customers to download. The “ping” or beacon application for businesses to broadcast their deals is available for a fee. The company offers a “pro” version that retails for $30 and an “enterprise” solution that offers more features and flexibility and which price is not disclosed. After all, the name says it all as FOMO is an acronym for the “fear of missing out”!

The company is lead by Richard “Rick” Sheinin (CEO), Shams Barnhard (President), Andrew Clayton (CMO – Chief Marketing Officer), Mathew Wallrath (Enterprise Business Manager), Scott Kleiner and Nicky Wilks.

Creative production streamlining app raised $500,000 from existing investor


inMotionNow, Inc. successfully completed the direct placement of a $500,000 equity offering to Madison River Ventures (MRV).  MRV initially invested $750,000 in the company’s equity on December 30th 2011. The company has less than 50 employees and declined to disclose its revenues.

The company’s product, called inMotion, is an all-in-one enterprise solution for the creative production process of print, video, and interactive content. It includes fully integrated online proofing, project and creative brief management. The cloud-hosted solution enables companies to manage and track creative content and projects in a centralized location. Users can review and markup proofs online and deliver approval back to the creative professional in minutes, from any internet-enabled device or through the inMotionNow app for iPhone and iPad.

inMotionNow, Inc., founded in December 2006 as PROOFitONLINE.com LLC, is headquartered in Morrisville, NC. Concurrently to the financing, the founder Robert Munz stepped down as CEO to become Chief Product Officer. He remains on the board of directors and was replaced by Ben Hartmere. MRV is represented on the board of directors by Phil and Steve Vanderwoude. Henry Watkins an advertising executive is on the board as well

Digifit raises $200,000 in mezzanine financing


Digifit, Inc., led by Dean Hovey, raised $200,000 in mezzanine instruments out of an expected $1.5 million offering from two investors. No placement agent was used. It is the second round of financing occurring according to SEC documents. The previous offering raised $2.6 million in equity out of an expected $3.2 million offering from fourteen investors in November 2012. Digifit, Inc. founded in June 2012 is headquartered in Santa Barbara, CA. It provides fitness and health monitoring solutions using sensors and wearable technology integrated with mobile devices and the cloud. Digifit mobile apps include iCardio, iRunner, iBiker and Spinning which are all designed for the iPhone while  iCardio and spinning are also available for Android.