Innovaccer Inc., Corporation just had published form D announcing $15.60 million equity financing. This is a new filing. Innovaccer was able to fundraise $15.10 million. That is 96.80% of the financing round. The total private financing amount was $15.60 million. This form was filed on 2016-07-13. The reason for the financing was: Total Offering Amount: $15,601,447.49; Total Amount Sold: $15,101,447.49; Total Remaining to be Sold: $500,000.00.. The fundraising still has about $500,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Innovaccer is based in California. The firm’s business is Other Technology. The form was submitted by Abhinav Shashank Chief Executive Officer. The company was incorporated in 2014. The filler’s address is: 350 Cambridge Avenue, Palo Alto, Ca, California, 94306. Abhinav Shashank is the related person in the form and it has address: 350 Cambridge Avenue, Palo Alto, Ca, California, 94306. Link to Innovaccer Filing: 000165134316000001.
Analysis of Innovaccer Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Innovaccer sold 96.80% of the offering. The fundraising is still open. Could this mean that the trust in Innovaccer is high? The average fundraising amount for companies in the Other Technology industry is $1.54 million. The total amount raised is 880.61% bigger than the average for companies in the Other Technology sector. 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 Innovaccer Also
The Form D signed by Abhinav Shashank might help Innovaccer 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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