Netuitive's first close reached $6.5 million. The company's $10.5 million non-brokered equity issue was 62% sold to thirteen investors. The first commitments were received three weeks ago. $4 million in additional funding can be raised before September 2015 based on the placement's structure. A total of seven unregistered securities offerings closed by the company raised an estimated $42.39 million.
Netuitive designs and markets a behavior learning technology to automate IT performance analysis. The company’s software solution is offered as a service (SaaS) and on-premise, and allows users to visualize, isolate, and proactively address IT performance issues across various data sources before they impact the business. Financial backers include MK Capital, Rembrandt Venture Partners, Cross Creek Advisors and Columbia Capital.
The company is headquartered in Reston VA. Netuitive elected to keep its revenues undisclosed. The executive team includes Babak Farzami and Hunter Louis. The board of directors includes Bret Maxell, Douglas Schrier and Wayne Jackson.
The company has raised an estimated total of $48.89 million via private unregistered security offerings.
Offering recap Status: First close Company: Netuitive Industry: Computers Amount offered: $10.5 million Amount placed: $6.5 million SEC filing: Source First sale: 09-11-2014 Data as of: 10-08-2014