CourseStorm Inc., the startup in Orono that provides course-registration software to education organizations, has raised $760,000 in a Series A round of equity investment.
If you remember, I reported in September that the company had recently reached a milestone with 100,000 students now using its platform to register for classes, and that with that demonstrated traction it was going to raise capital to help it ramp up its sales and marketing efforts.
Well, it didn’t take long. The company raised $710,000 earlier this month, filing the paperwork on Oct. 19 with the U.S. Securities and Exchange Commission, out of a $1 million offering. Mainebiz reported that the lead investor is Maine Venture Fund.
CEO Brian Rahill told Maine Startups Insider that this initial Series A round was going to close at $710,000, but because of investor interest the company decided to keep the round open and raise its total offering to $1 million. In the last week, it’s raised an additional $50,000, bringing its current total raised to $760,000, Rahill said.
For more on the company and its product, see my previous article, “After reaching important milestone, CourseStorm prepares to ramp up.”