Tagged: platform

SeedInvest launched a $7.5 million offering and placed 68%


XDATA – June 1st 2016
According to a document filed by SeedInvest with the SEC, the company launched a $7.5 million non-brokered equity offering. So far SeedInvest sold….
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h2 wellness reports $3.1 million raised at first close


XDATA – October 22nd 2015
h2 wellness received two commitments for its $5 million financing round. Investors committed to buy 62% or $3.1 million worth of equity almost two weeks ago. $1.9 million in additional funding can be raised before October 2016 based on the placement’s structure. It appears to be the first time the company is filling a security offering under a registration exemption.
h2 wellness markets h2 connect Platform a modularized, scalable and secure digital health platform that connects behavioral science and individual data sets into a personalized health portal that drives individuals to their goals, while delivering on key business objectives. The platform also helps health and wellness brands provide their customers with attractive, innovative digital strategies in a cost-effective, timely manner, eliminating the risk of software development and ongoing maintenance.
The company, headquartered in Los Angeles CA, is led by Hooman Fakki (CEO). h2 wellness elected to keep its revenues undisclosed.
The executive team includes Houman Arasteh.
Offering recap
Status: First close
Company: h2 wellness
Industry: Other Health Care
Amount offered: $5 million
Amount placed: $3.1 million
SEC filing: Source
First sale: 10-09-2015
Data as of: 10-21-2015

Jewelry marketplace, TrueFacet issues $4.79 million worth of equity


$4.79 million was raised by TrueFacet following the successful placement and issuance of its unregistered equity securities. A total of twenty-eight investors participated to the non-brokered placement which started one month ago. No offering was previously initiated by the company under a registration exemption with the SEC.
An undisclosed portion of the security issuance is related to the conversion of certain indebtedness.
TrueFacet markets and develops an online marketplace for second-hand luxury jewelry and watches. While sellers can list their items directly on the marketplace, the company offers a consignment, authentication and refurbishing service. Financial backers include Maveron, Social Leverage, Founders Coop and Trilogy. The company is a TechStar alumus.
Tirath Kamdar (CEO) leads the New York NY based company which was registered in 2014. TrueFacet elected to keep its revenues undisclosed.
The executive team includes Christopher Chan.
Offering recap
Status: Completed
Company: TrueFacet
Industry: Retailing
Amount offered: $4.79 million
Amount placed: $4.79 million
SEC filing: Source
First sale: 05-08-2015
Data as of: 06-08-2015

PowWow reports $2.72 million raised at first close


XDATA – September 24th 2014

powwow PowWow received two commitments for its $4.37 million financing round. Investors committed to buy 62% or $2.72 million worth of equity on September 10th. $1.65 million in additional funding can be raised before September 2015 based on the placement’s structure. This is the first time PowWow is selling securities under a registration exemption.

The company is a virtual desktop application (app) delivery platform that brings enterprise apps to mobile devices. Companies can move existing Windows or web applications to any mobile device in minutes giving their employees the freedom to use the applications and mobile devices of choice.

Andrew Cohen (CEO) leads the San Francisco CA based company which was registered in 2012. PowWow elected to keep its revenues undisclosed.
The executive team includes Jonathan Kaplan.

Offering recap
Status: First close
Company: PowWow
Industry: Other
Amount offered: $4.37 million
Amount placed: $2.72 million
First sale: 09-10-2014
Data as of: 09-24-2014

For more information visit www.XDATA.co

Plantbid’s offering lures sixteen backers


XDATA – September 10th 2014

ippsysSo far sixteen investors participated to Plantbid‘s $1.5 million non-brokered financing round. Financial backers bought, on August 26th, 60% of the offering or $901,000 worth of equity. $599,000 in additional funding can be raised before August 2015 based on the placement’s structure. Until this disclosure Plantbid had raised an estimated $650,000 in unregistered securities via one previous financing round.

Plantbid develops and markets an online horticulture procurement platform for landscaping professionals. The platform allows users to enter the complete list of plants they are looking for and source from nurseries nationwide. The company offers different plans as well as brokerage services.

The company was registered in 2012 and has its headquarters located in Madisonville LA. Revenues on or below $5 million were reported by Plantbid.
The executive team includes Cameron T Cantrelle, Clay Mccord Cantrelle, David W Wooden and Theodore W Ellefson.

The company has raised an estimated total of $1.55 million via private unregistered security offerings.

Plantbid is registered under the name IppSys

Offering recap
Status: First close
Company: Plantbid
Industry: Other Technology
Amount offered: $1.5 million
Amount placed: $901,000
First sale: 08-26-2014
Data as of: 09-10-2014

For more information visit www.XDATA.co

$1 million fundraising launched by Tenant King


tenant kingTenant King disclosed in an SEC filing, launching a $1 million non-brokered equity financing round. The placement is structured to close in June 2015 should the fundraising target not be reached. The company didn’t report selling securities thus far. This is the first time the company is filling a security offering under a registration exemption with the SEC.

Tenant King develops a community platform for neighbors and their neighborhood. The goal is to strengthen communities via the creation of private networks. The platform allows verified members to buy, sell, swap goods and services, organize community activities or simply anonymously voice concerns about the building’s management. The platform started to offer its services to tenants living in Long Island City, New York.

The company was registered in 2013 and has its headquarters located in Bedford NY. Tenant King elected to keep its revenues undisclosed.
The executive team includes Michael Rossi.

Offering recap
Status: Launched
Company: Tenant King
Industry: Other Technology
Amount offered: $1 million
Data as of: 06-09-2014

$1 million unregistered debt financing and first close reported by Synced


syncedSynced disclosed being in the market to raise $1 million via debt issuance. Apparently 15% or $150,000 has already been subscribed by two investors. The non-brokered placement started one month ago. An additional $850,000 in funding is to be raised until the offering draws to a close in April 2015. The company hasn’t previously offered unregistered securities.

Synced designs, develops and markets a mobile software as a service (SaaS) platform geared toward companies to energize their health and wellness programs. The application features tools to engage and motivate employees to be healthy as well as reward them.

Synced, registered in 2014, is headquartered in New York NY. It is led by Andrew Ferenci (CEO). Revenues remained undisclosed.
The executive team includes William S Paladini.

Offering recap
Status: First close
Company: Synced
Industry: Other Technology
Amount offered: $1 million
Amount placed: $150,000
First sale: 04-30-2014
Data as of: 05-30-2014

Mindoula Health reports successful placement of its mezzanine securities


mindoulaA $175,000 unregistered mezzanine investment round initiated by Mindoula Health was subscribed by four financial backers. According to the information disclosed, the placement started a week ago and was fully subscribed. No offering was previously initiated by the company under a registration exemption with the SEC.

Mindoula Health develops and markets remote or in-person behavioral health care management services. The company targets hospital and treatment centers, primary care physician practices, as well as patients and their families.

The company was registered in 2013 and has its headquarters located in Bethesda MD. Mindoula Health disclosed having revenues on or below $1 million.
The executive team includes Steven Sidel.

Offering recap
Status: Completed
Company: Mindoula Health
Industry: Other Technology
Amount offered: $175,000
Amount placed: $175,000
First sale: 05-16-2014
Data as of: 05-23-2014

Vanare raised $250,000 at first close almost two weeks ago


vanareVanare reported launching a $750,000 mezzanine private placement. According to the filing, 33% or $250,000 was sold to four backers almost two weeks ago. The offering will remain open until May 2015 while an additional $500,000 worth of securities is sold to investors. Vanare is offering unregistered securities for the first time under regulation D of the Securities Act of 1933.

The company developed and markets a platform designed for wealth management advisory practices. The cloud-based platform integrates third party applications which cover the entire advisory workflow including client relationship management (CRM), financial planning, portfolio management and re-balancing, and client reporting.

Richard Cancro (CEO) leads the New York NY based company which was registered in 2012. Vanare kept its revenues undisclosed.

Offering recap
Status: First close
Company: Vanare
Industry: Other Technology
Amount offered: $750,000
Amount placed: $250,000
First sale: 05-01-2014
Data as of: 05-14-2014

Tradeshift or the challenge of compiling information sources when lacking sophistication


It is at times most interesting to compare what is disclosed via Form D to what is communicated via press release by companies. A quick analysis of what has been officially filed with the SEC also shows the errors made by information providers that compile information without reconciling the data.

Let’s take Tradeshift for example. Tradeshift is a cloud-based single, shared and open platform designed to streamline and aggregate all the tools necessary that businesses require to buy and sell. The solutions include electronic invoicing, collaborative workflow as well as financial solutions such as cash flow management or electronic payments. The company filed yesterday an amendment to its Form D filed in December 2013. The amendment shows an increase of $15 million in the amount raised via security issuance since December, the total amount raised stood at $30 million. However, between December and yesterday, the company disclosed on February 25th via press release closing a $75 million financing round.

So why is there a $45 million difference in the amount raised between the Form D and the press release? It turns out $45 million is the aggregate amount of an option agreement between the company and Scentan Ventures. As its name suggests, the agreement provides Scentan Ventures with the right but NOT the obligation to buy Tradeshift’s securities at an agreed upon price at some time in the future.

Random Research (RR) has seen a little bit of everything on the web all leading to the same conclusion: most information providers fail to relate the Form D with the press release and realize the three documents (D, D/A and press release) are all related to the same financing round, hence inflating the amount raised. It shows a lack of sophistication when analyzing Form D and its amendments as well as a poor understanding of the regulation D.

RR is curious to know what will happen when/if the option is exercised by Scentant and triggers a Form D filling. Based on certain practices we can expect to see a $30 million financing round balloon to $90 million (15+75) and show $135 million (15+75+45) raised when it is $75 (30+45).

By the way, prior financing rounds closed by the company did not lead to the filing of Form Ds. Why? Simply because the company was then located in Denmark and investors where not US-based.

Tradeshift Holdings filed $15 million in additional commitments
Change: offered +100% / raised +100% / placed 100%

tradeshiftIn a document filed with the SEC, Tradeshift Holdings reported placing an additional $15 million worth of equity securities.  The company had previously disclosed raising $15 million. So far one investor bought $30 million worth of securities. The private placement’s expected net proceeds amounts to $28.78 million which excludes $1.22 million paid in brokerage fees. The offering is structured to close in six months at the latest. It was filed under security registration exemption rule 506 for which there is no fundraising cap. This was the first offering under regulation D filed by Tradeshift Holdings.

The company is headquartered in San Francisco CA. Tradeshift Holdings kept its revenues undisclosed.
The executive team includes Christian Lanng and Peter Van Pruissen.
The board of directors includes Edward Shenderovich, Ian Swycher, Noriaki Okubo and Stephen Chandler.

Offering recap
Status: On-going
Company: Tradeshift Holdings
Industry: Other Technology
Amount offered: $30 million
Amount placed: $30 million
First sale: 12-03-2013
Data as of: 05-08-2014