has issued Series A Preferred Stock to an investor group led by
AppForge is a provider of software development solutions for mobile and wireless devices.
Senior Team
AppForge
Type
Capital Raise
Description
Industries
Technology
has issued Series A Preferred Stock to an investor group led by
AppForge is a provider of software development solutions for mobile and wireless devices.
About
AppForge provides software that enables the creation of cross-platform software applications for the rapidly growing mobile computing device market that can be written quickly, easily, and inexpensively.
Situation
For nearly 15 years, AppForge's predecessor company, Ratio Design Labs, functioned as a highly successful contract services business for wireless enterprise customers that included FedEx, Motorola, and Chase Manhattan Bank. In 2000, Ratio stopped taking new business and transitioned to focusing on building AppForge, which needed capital to enhance its software product and fund sales and marketing efforts. Croft & Bender was hired to draft the offering memorandum, market the Company to interested parties, and to analyze, structure, and negotiate a transaction that would raise the necessary capital.
Result
Croft & Bender successfully raised capital for the Company, with the institutional investors including Draper Atlantic and Sinclair Ventures. C&B Capital also participated in the transaction.