Ugru Seeks to Raise $1 Million

3/22/17

By Lauren Hong, NC BIZ News

A Raleigh-based computer software company seeks to raise $1 million, according to a filing with the Securities and Exchange Commission.

Ugru LLC filed the Form D on March 22. The first sale has yet to occur. The company does not intend this offering to last more than one year.

The offering is not being made in connection with a business combination transaction. The company estimates that $100,000 of the gross proceeds of the offering will be used for payments to executives officers, directors or promoters.

Founded in 2011, Ugru is a cloud-based financial practice management suite. It offers sales force automation, marketing automation, bookkeeping and operations tools and financial planning assistance.

The company claimed a Rule 506c exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The Form D can be found here.

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