Tagged: mapping

New investors commit to Locuslabs’ financing, cap was revised upward

Change: offered +53% / raised +91% / placed 85%
LocusLabs 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.
Offering recap
Status: Intermediary close
Company: Locuslabs
Industry: Telecommunications
Amount offered: $1.3 million
Amount placed: $1.1 million
SEC filing: Source
First sale: 07-25-2014
Data as of: 01-02-2015

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