XDATA – September 30th 2014
Krimmeni Technologies‘ first close reached $12.1 million. The company’s $12.5 million non-brokered equity issue was 97% sold to twelve investors. The first commitments were received on September 16th. Two previous unregistered financing rounds raised an estimated $2.7 million.
The company is a cloud-enabled, cybersecurity software developer focused on secure communications for connected devices. The technology is building on the company’s patented method and system called “recursive security protocol” for digital rights management (DRM). This system enables content and technology providers to deliver consumer-friendly solutions while still ensuring fair compensation to content providers. The technology is designed to support the principles of “Fair Use” and the “Right of First Sale”. “Fair Use” allows consumers to make any number of unsupervised copies of their legally purchased property. “Right of First Sale” allows consumers to resell a purchased product at any time. The unique nature of this Recursive Security Protocol permits both of these functionalities without infringing on any of the traditional rights of the copyright holder.
The company, headquartered in Austin TX, is led by David A Lundgren (CEO). No revenues were reported by the company.
The executive team includes William V Oxford.
The board of directors includes Brian Thompson, Donald R Shriner and Harry J Rosenbluth.
The company has raised an estimated total of $14.8 million via private unregistered security offerings.
Status: First close
Company: Krimmeni Technologies
Amount offered: $12.5 million
Amount placed: $12.1 million
First sale: 09-16-2014
Data as of: 09-30-2014