Tagged: mezzanine

SkyWard IO lands $2.38 million mezzanine round

WeSpire reports successful placement of its mezzanine securities

XDATA – August 29th 2014

wespireA $2 million unregistered mezzanine investment round initiated by WeSpire was subscribed by fifty-one financial backers. According to the information disclosed, the placement started almost two weeks ago and was fully subscribed. Two previous unregistered financing rounds raised an estimated $4 million.

WeSpire markets and develops a cloud-based platform that helps companies engage their employees in sustainability and responsibility initiatives with persuasive technology that builds awareness, drives behavior change and measures business results. The company’s mobile and web platforms empower people to take positive actions at work, at home and in their community. The company is backed by EnerNOC.

The company, headquartered in Boston MA, is led by Susan Hunt Stevens (President). WeSpire kept its revenues undisclosed.
The board of directors includes Anton Szpitalak, Janet Kraus, John Landry and William Wiehl.

The company has raised an estimated total of $6 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: WeSpire
Industry: Other
Amount offered: $2 million
Amount placed: $2 million
First sale: 08-18-2014
Data as of: 08-29-2014

For more information visit www.XDATA.co

Mobile payment solution for the hospitality industry unveils $1 million mezzanine offering

Zuldi Co. hit the market placing 2% of its $1 million mezzanine private placement with one investor. The investor might well be the accelerator Tech Wildcatters. The non-brokered offer will be on the market for a year. This is the first known US private placement initiated by the start-up.

The company developed and markets an iOS application (app) for hospitality industry’s patrons to pay and even split their tabs using their mobile device. The payment processing system is integrated via cloud with the main global point of sale (POS) systems.

Zuldi, headquartered in Las Vegas NV, was founded by Hartej Singh Sawhney (CEO) in March 2012. The executive team includes Gal Dolber (CTO) and Amrit Judge (Business development).

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).

TiqIQ, Inc. raised 60% of an expected $1 million mezzanine offering

TiqIQ, Inc. garnered $600,000 following a non-brokered mezzanine offering placed among six investors. This brings to $2.3 million the total estimated amount raised by the company. The company is backed by iNovia Capital and lead investor Contour Venture Partners.

TiqIQ, Inc. is a online event tickets aggregator which aim is to make buying event tickets more transparent, efficient and simpler. The company provides ticket buyers with real-time information on the latest price trends and access to the best deals from all sellers for any event. Originally the company was operating as a white label platform for a network of publishers like The Washington Post, New York Post and sports blog network SB Nation. The company decided in 2012 to release a customer facing website destination to compete with rival SeatGeek.

The company is headquartered in New York, NY and was founded in November 2011. It is lead by founder Jesse Lawrence (CEO).

Novel pharmaceutical manufacturing company raised $265,000 via mezzanine offering

CONTINUUS Pharmaceuticals, Inc., raised 52% of its expected $500,000 mezzanine offering. Ten investors participated to the direct offering.

CONTINUUS is an early stage pharmaceutical manufacturing company that will apply new state-of-the-art small-scale process technologies that can be integrated into a seamless manufacturing process. This represents a major shift from the current batch and step-by-step industry standard. In other words it enables “on-demand” manufacturing of pharmaceuticals with major advantages in lead time, quality, and above 30% in cost reduction. The company’s technology allows to manufacture a finished product in two days using a single facility ten times smaller than the existing “batch” plants.

The company, headquartered in Boston, MA, is a spin-out of the Novartis-MIT center for continuous manufacturing. It was founded by Salvatore Mascia (CEO) in January 2012. Bayan Takizawa is head of development and operations.

Indian social and dating networking service raised $400,000 via mezzanine offering

Ignighter, Inc., does business as StepOut, raised 70% of its mezzanine offering from six investors. No dealer or broker was associated with the placement. The company which was founded in 2008 raised up to now an estimated $7.7 million in equity and mezzanine securities. A host of venture capital firms have backed the company over the years and include: GTI Capital GroupTribeca Venture Partners (formerly GSA Venture Partners), Founder Collective and Point Judith Capital.

Ignighter, Inc. despite being headquartered in New York, NY, focuses solely on the Indian market. The company started to do so in early 2011, time at which it was re-branded as StepOut. The company manages a social networking platform which allows users to find people sharing the same interest in their area.

Ignighter was founded in August 2008 and was a TechStars’ startup accelerator. The company is led by Adam Sachs (CEO), Daniel Osit (COO) and Kevin Owocki (CTO).

Social platform in the market with $750,000 mezzanine offering

Ology Media, Inc. (formerly Big Live, Inc.), raised $175,000 out of a $750,000 mezzanine offering from three investors. No placement agent was hired for the offering. It is currently unclear if Big Live, Inc. is going to be merged with Ology Media, Inc. (formerly Ology Corp. and College Media, Inc.) and for now changed its name to Ology Media, Inc. According to publicly available information both companies are still in existence and registered in Delaware under the same name. Both entities have each revenues below $1 million and raised a combined estimated $14.6 million since their foundation.

Regardless of the corporate actions, the “new” Ology Media, Inc. combines Big Live’s  patent-pending social networking technology with Ology Media’s content network and blogging community targeting millennials (formerly known as Generation Y, read: 15-24 years old). Big Live’s technology allows users to broadcast videos, host conversations and create communities from anywhere on the web, while Ology provides a meeting place (by aggregating blogs and offering original content) where users can share their passion and expand their community.

Ology, headquartered in New York, NY, was originally founded in June 2008 by Beth Haggerty and Vivian Moran. Ology.com ranked number one in growth on ComScore in Mai 2011. Big Live, headquartered in San Francisco, CA, was founded in September 2008 and headed by Jonathan “Jon” Zakin. The “merged” entity is located in New York City and according to the latest public information available is headed by Jon Zakin (President and CEO), Beth Haggerty remains an executive while sitting on the board alongside Gavin M. Cuneo  and Casey Cowell (both seed investors in Big Live), Scott Kauffman and Dominic Ianno.

English proficiency software developer closed $750,000 mezzanine financing

English Helper, Inc. placed $750,000 in mezzanine instruments with three investors. The company raised $500,000 in equity in April 2011, time at which the philanthropic and impact investment* firm Omydiar Network became an investor.

The company which was originally headquartered in New Delhi India, develops software solutions to improve English language proficiency in India. Four products are available, ReadToMe, firefly, Helpers series and WritingAssistant. A number of schools, institutions, non-profit organizations and companies in India are current customers. The company is now headquartered in Westwood, MA.

The company was founded in 2009 as EnglishHelper Technologies Pvt. Ltd. by founder and chairman Dr. Venkat Srinivasan and is currently lead by Sanjay Gupta.

*impact investment was described in the story relating the debt offering of Impact Driven.

Invictus Medical almost closed on its $495,000 mezzanine offering

Invictus Medical, Inc., sold $480,000 worth of mezzanine instruments to nine investors. An undisclosed portion of the gross proceeds will be paid toward executives’ salaries. No placement agent was retained as part of the offering. The company has no revenues.

The company is commercializing a cranial support device designed to prevent pressure ulcers and cranial defects, specifically deformational plagiocephaly (DP), in infants. The American Academy of Pediatrics recommended in 1992 that infants be placed on their back while sleeping in order to decrease the risk of sudden infant death syndrome (SIDS). While cases of SIDS went down, cases of DP  increased from 5 to 30%. According to a study released in 2010 (Speltz ML, Collett BR, Stott-Miller M, et al. Case-control study of neurodevelopment in deformational plagiocephaly) DP is associated with compromised neurodevelopment in infancy.

The device which won the 2011 Innotech Beta Summit, positions itself as a preventive solution to the current corrective solution (cranial orthotic therapy) for an estimated $500 million US market. It is composed of a thin, low friction and moisture reducing fiber material, which completely encloses a solution-filled durable plastic pack. This plastic pack contains a visco-elastic gel solution of a specific viscosity and volume designed to achieve maximum pressure redistribution throughout the entire surface of the skull. The materials utilized have been proven to be biocompatible and are cleared by the FDA.

The company, formerly known as Invictus Engineering, Inc., is headquartered in San Antonio, TX and is lead by Tom Roberts (CEO), Eric Eisbrenner (CFO), Chris Gilmer (COO), Daniel Mendez (CTO) and Russ Rayburn (VP – Sales). The company was founded in 2011.