Form D Friday is an Atlanta Inno feature highlighting regulatory filings and tips about Atlanta companies raising capital. Form D reports are a type of U.S. Securities and Exchange Commission form used to file a notice of exempt offerings of securities. The SEC requires companies file the notice within 15 days after the first sale of securities in the offering. These forms don’t include a lot of details but can provide clues as to what investors and business owners are planning. If you have any tips or comments about new Atlanta fundraises, email Zach Armstrong at zarmstrong@bizjournals.com.
Between Sept. 23 and Sept. 30, Atlanta startups got at least $47 million across seven capital raises, according to reporting from Atlanta Inno and filings with the U.S. Securities and Exchange Commission.
The largest raise, a $14 million investment led by Atlanta-based venture capital firm Forté Ventures LP, went to Evident ID Inc. The company, led by CEO David Thomas, helps businesses verify and evaluate the insurance of third parties, prospective employees or franchisees. Following the raise, the company told Atlanta Inno it plans to add specialized features for the financial and real estate sectors to grow its client base within those industries.
Here’s the venture capital investments you might’ve missed in the past week:
- Identification and credentialing startup Evident ID Inc. raised $14 million for hiring, product development and growing its customers. The latest investment brings the company’s total financing to $42.8 million. It has around 150 customers, which include Airbnb and WAG! It plans to double that within a year. It has 55 employees across the U.S. and will add up to 15 within a year with hires in sales and marketing.
- Renewable energy semiconductor manufacturer Emrgy Inc. raised $13 million, according to a filing with the SEC. The company provides a way to tap into energy sources within waterways for renewable power generation. The National Renewable Energy Laboratory named its solution as one of the “Top 30 Emerging Technologies.” The Atlanta Business Chronicle previously reported that its first target market is U.S. municipal water treatment and transport canals, which represent over $13 billion in market potential.
- Financial lending startup Momnt Technologies Inc. raised $9.5 million to expand its footprint internationally, grow its staff and enhance its products, according to the company. The raise brings the company’s total funding to $20 million. Existing investors CMFG Ventures and Saluda Grade Ventures participated in the round along with new investor Yamaha Motor Ventures. The software company will hire up to 30 new employees in sales and development to its team of 100. It will also grow its footprint internationally and to more U.S. states.
- Recruiting automaton startup Grayscale Labs Inc. raised $7.5 million led by Atlanta Ventures. Fellow local investment firm Overline VC also participated. Signature Bank also provided $2.5 million in debt financing to the company, Grayscale CEO Ty Abernethy said. As part of the raise, Salesloft co-founder Rob Forman will join Grayscale's board of directors. The funding will be used to nearly double its 32-person staff in the next 18 months. Hires will be in sales, engineering, customer support and marketing.
- Focal Point Procurement Solutions Inc. raised $2.5 million, according to a filing with the SEC. Five investors participated, according to the filing. In May, Focal Point raised $3 million in seed funding, led by West Coast-based Susa Ventures and global venture capital firm Amplo. The company provides large companies with procurement software, the process or solution where companies buy goods or services to run their operations.
- Circular Impact Inc. raised $300,000 as it tries to raise $1.5 million, according to a filing with the securities and exchange commission. Little is known about the company. Jeffrey Sun was listed as its CEO. David Auerbach and Anirudh Vallabhaneni were also named in the raise.
- BitRail Inc. raised $250,000, according to a filing with the SEC. The company develops and manages brand-owned digital currencies for businesses, according to its website. CEO Jeff Siegel is also the CEO of Kennesaw-based Avid Outdoorsman Media Group and Media Lodge, according to his LinkedIn. BitRail’s office is located close to Truist Park, at 800 Battery Ave. SE, according to its website.
