Virtudent, Inc., Corporation just had published form D about $2.00 million equity financing. This is a new filing. Virtudent was able to fundraise $2.00 million. That is 100.00% of the round of financing. The total financing amount was $2.00 million. The form was filed on 2016-10-07. The reason for the financing was: unspecified.
Virtudent is based in Massachusetts. The filler’s business is not disclosed. The form D was filed by Hitesh Tolani President. The company was incorporated in 2014. The filler’s address is: C/O Masschallenge, 21 Drydock Ave., Suite 610, Boston, Ma, Massachusetts, 02118. Hitesh Tolani is the related person in the form and it has address: C/O Masschallenge, 21 Drydock Ave., Suite 610, Boston, Ma, Massachusetts, 02210. Link to Virtudent Filing: 000114036116082223.
Analysis of Virtudent Offering
On average, startups in the not disclosed sector, sell 67.77% of the total offering size. Virtudent sold 100.00% of the offering. Could this mean that the trust in Virtudent is high? The average financing size for companies in all industries in our database is $3.05 million. The offering was 34.43% smaller than the average of $3.05 million. Of course this should not be taken as negative. Companies get financed for different reasons and needs. The minimum investment for this fundraising was set at $0. If you know more about the reasons for the financing, 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 Virtudent Also
The Form D signed by Hitesh Tolani might help Virtudent, 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.
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