Tagged: network

$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


Air Media disclosed information on its $700,000 debt issuance

AirmediaAirMedia reported selling 57% of its debt issuance via a subscription which launched yesterday. According to the information disclosed, six subscribers ponied up $400,000 out of the $700,000 the company expected to raise. $300,000 in additional funding can be raised before March 2015 based on the placement’s structure. The company hasn’t previously offered unregistered securities.

AirMedia is a sports content syndication platform.  The company aims at providing users with a network which will allow them to reach traffic standards demanded by video advertisers. It currently offers two products. AirMedia Syndication where users are able to broadcast proprietary content along with their advertisers to leading portals, premium blogs and top sports sites. AirMedia Content Discovery is designed to increase (in volume and relevancy) web traffic by pointing leading sports portals, sites and blogs audience back to the users original content.

The company, headquartered in Culver City CA, was registered this year. Revenues remained undisclosed.
The executive team includes David Lucas “Luke” McDonough (Co-founder and CEO), Doug Neiman (Co-founder and CRO) and Lynn Gabbay (Co-founder and CTO).

Offering recap
Status: First close
Company: AirMedia
Industry: Other Technology
Amount offered: $700,000
Amount placed: $400,000
First sale: 03-04-2014

Late filer Vostu completed a $450,000 equity offering

vostu 2Late filer Vostu sold a total of $450,000 in a brokered equity investment round. The transaction which started a few months ago, garnered the support of sixteen investors. The private placement’s expected net proceeds amounts to $420,000 which excludes $30,000 paid in brokerage fees. The company closed five previous unregistered private placements which raised an estimated $48.72 million. The company is backed by early investor Intel Capital, General Catalyst Partners, Accel Partners and Tiger Technology Global Management.

Vostu is a social gaming company with a focus on the Latin American market. It released in 2009 its first game called “Joga Craque”, a role playing game (RPG) featuring Brazilian soccer players. The company has since then launched multiple games (Mini Fazenda, Café Mania, MegaCity, Vostu Poker, Rede do Crime, Pet Mania) on Orkut, the Brazilian social network as well as on Facebook, MSN and their own platform. The company has been referred to as the Zinga of Brazil.

The company, headquartered in New York NY, is led by Daniel Kafie (CEO). Vostu elected to keep its revenues undisclosed.

The company has raised an estimated total of $49.17 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Vostu
Industry: Other Technology
Amount offered: $450,000
Amount placed: $450,000
First sale: 2013-11-27

Late filer UpMeSocial disclosed issuing $120,000 worth of securities

upmesocial$120,000 worth of convertible debt was sold by late filer UpMeSocial to two investors. The non-brokered security placement was initiated almost six months ago according to information filed under regulation D. The offering’s estimated net proceeds amount to $70,000 excluding $50,000 earmarked for the payment of officers’ salaries. No securities were previously sold under a registration exemption with the SEC.

The company markets a social platform designed for users to interact with their friends and gain popularity points. The platform revolves around a popularity based ranking system, follower and following, and all the other staples a social platform has. The application, which is currently in beta, is available for iOS and Android.

The company, headquartered in Ann Arbor MI, was registered in 2012. Revenues were not reported. The executive team includes James Buford and Petrus Alcindor.

Offering recap
Status: Completed
Company: UpMeSocial
Industry: Other
Amount offered: $120,000
Amount placed: $120,000
First sale: 2013-08-30

First close of $313,000 for stealthy AppDate on its convertible promissory note placement

A first close of $313,000 was initiated by AppDate on its fundraising effort. The notes started to sell nine days ago. 31% of the $1 million non-brokered convertible promissory note offering was placed with five investors. It is the first time the company is raising funds on the private placement market.

The company is in stealth mode. However, it seems it will be launching a social network platform under the ReelTime name. As its name suggests, the platform might be focusing on video capture, recording and sharing. It will be accessible online as well as through mobile applications.

Welles Mattson (President) leads the Concord MA based company which was registered in 2013. Revenues were not disclosed. The board of directors includes Jeffrey J. Crown.

Offering recap:
Status: First close
Company: AppDate AKA ReelTime
Industry: Other
Amount offered: $1 million
Amount placed: $313,000
First Sale: 01/21/14

Social network for parents initiates first close on its mezzanine offering

BloomzA first close of $576,000 was initiated by Bloomz on its fundraising effort. 58% of the $1 million non-brokered mezzanine offering started to sell on January 13th 2014. Thirteen investors subscribed to the placement so far. It is the first time the company is raising funds on the private placement market.

The company develops a secure invite-only social network platform for parents to simplify their lives by consolidating in one place all their children’s events ranging from school and extra curricular activities to friends. It lets users coordinate and manage schedules and opens the door to collaboration and communication with other parents, teachers, and coaches. The application (app) has been designed for mobile devices running on iOS.

Chakrapani Appalabattula (President) leads the Redmond WA based company which was registered in 2013. Revenues were not disclosed.

Offering recap:
Status: First close
Company: Bloomz, Inc.
Industry: Other Technology
Amount offered: $1 million
Amount placed: $576,000
First Sale: 01/13/14

Big data security analytics developer completed $1 million equity offering

Late filer nPulse Technologies, just disclosed raising a $1 million Series B financing round which was subscribed by 14 investors. This is the second time that the company closes an offer on the private placement market. It raised close to $2 million back in November 2012.

The company develops hardware designed to record and analyze network traffic and provide a robust solution for big data security anlaytics. Its flagship product “CPX Flow & Packet Capture” is a high-speed, multi-terabyte traffic recording and analysis platform for Network Operations Center (NOC) and Security Operations Center (SOC) environments.  The high-speed, continuous recording solution provides deep, high-fidelity indexed storage of network traffic for direct analysis or use with other security or monitoring applications. CPX delivers an easily-searched, multi-level, deep-time view of network packets, trends and events.

nPulse Technologies, headquartered in Charlottesville VA, was founded in 2012 by Randy Caldejon (CTO) and Peter Shaw (Vice President). The company is lead by Tim Sullivan.

Offering recap:
Status: Closed
Company: nPulse Technologies
Industry: Other Technology
Amount offered: $1,000,000
Amount placed: $1,000,000
First Sale: 08/16/13

First close of $250,000 on its $1.24 million equity offering for social media platform

A first close of $250,000 was initiated by TapThere on its fundraising effort started last month. 20% of the $1.237 million non-brokered equity offering was placed with two investors. The private placement will remain open for a year while an additional $987,000 is raised by the company. This is the first time TapThere is raising money on the private placement market.

TapThere develops a social media platform. The stealthy platform allows users to define, view, and interact with live experiences and people anywhere in the world.

Curtis Hutten (President) leads the Newport Beach CA based company which was registered in 2012. TapThere elected not to disclose its revenues.

Offering recap:
Status: First close
Company: Tapthere
Industry: Other Technology
Amount offered: $1.237 million
Amount placed: $250,000

College student portfolio network successfully placed its $600,000 equity offering with twelve investors

Seelio successfully completed its $600,000 equity offering which started last month. The non-brokered private placement was subscribed by twelve investors. Up to this point Seelio had raised an estimated $600,000 via one financing round. The equity offering’s expected net proceeds amount to $534,000 excluding $66,000 earmarked for the payment of officers’ salaries.

The company designed a social network for college students and educators to broadcast their portfolio. The company builds custom portfolio networks and galleries for engineering, design, and business programs to empower students to document their learnings and showcase their work.

Moses Lee (President, CEO and Co-founder) leads the Ann Arbor MI based company which was registered in 2011. Seelio reported revenues on or below $1 million for the latest fiscal year. The executive team includes David Jsa (Co-founder and CTO). The board of directors includes Steven Fireng and David Fry.

Offering recap:
Status: Completed/Final close
Company: Seelio
Industry: Other Technology
Amount offered: $600,000
Amount placed: $600,000

Fundraising launched by Think Communications for $500,000 in equity

Think Communications, does business as THINKAboutCollege.net, is in the market with a $500,000 non-brokered equity offering. The offering is expected to close within a year. Think Communications didn’t close any previous offering on the US private placement market. The offering holds a senior secured position and offers an attractive estimated internal rate of return (IRR). The participating and convertible preferred shares carry an 8% dividend plus an aggregate 8% participation of net income. The minimum investment threshold per accredited investor stands at $10,000.

The company develops a patent pending social network exclusively focused on helping students, parents, counselors, and admission professionals reach their individual goals. The company started as an electronic media based publishing company focused on career and college readiness challenges which led to the development of a social network. The network is designed to be free for students, parents, and high schools through the financial support of local, regional, and national sponsors. The application is simple to navitage and offers advice needed to help users find the right place to learn, live, and make a sound investment. The company is currently looking for beta testers.

The company, headquartered in Interlochen MI, is led by James R. Brouwer (Founder & CEO). Think Communications elected not to disclose its revenues. The executive team includes Frank Burtnett (Editorial Content and Services).

Offering recap:
Status: Launched
Company: Think Communications
Industry: Business Services
Amount offered: $500,000
Amount placed: $0