By Vivian Currie
Convercent, Inc., Corporation just submitted form D about $25.00 million equity financing. This is a new filing. Convercent was able to fundraise $25.00 million. That is 100.00 % of the fundraising offer. The total offering amount was $25.00 million. The financing form was filed on 2017-12-22. The reason for the financing was: Offer and Sale of Series E Preferred Stock.
Convercent is based in Colorado. The company’s business is Other Technology. The form was filed by Patrick Quinlan Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 929 Broadway, Denver, Co, Colorado, 80203. Patrick Quinlan is the related person in the form and it has address: C/O Convercent, Inc., 929 Broadway, Denver, Co, Colorado, 80203. Link to Convercent Filing: 000156797517000004.
Analysis of Convercent Offering
On average, startups in the Other Technology sector, sell 85.80 % of the total offering size. Convercent sold 100.00 % of the offering. Could this mean that the trust in Convercent is high? The average investment floor size for companies in the Other Technology industry is $1.54 million. The total amount raised is 1,523.38 % bigger than the average for companies in the Other Technology sector. The minimum investment for this fundraising is set at $0. If you know more about the reasons for the fundraising, please comment below.
What is Form D? What It Is Used For
Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.
Why Fundraising Reporting Is Good For Convercent Also
The Form D signed by Patrick Quinlan might help Convercent, Inc.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.