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 Nov. 11 and Nov. 18, Atlanta-based startups received at least $2.6 million across four venture deals. The deals are according to filings with the U.S. Securities and Exchange Commission.
It was the lowest amount of venture capital raised by Atlanta startups in a seven-day period in several weeks. Comparatively, Atlanta startups raised at least $10.5 million between Oct. 28 and Nov. 4 and at least $69 million between Oct. 21 and Oct. 28.
They come as startups in Georgia and nationally are seeing a decline in venture funding. PitchBook and National Venture Capital Association's latest report showed that local startups saw a 28% decrease of venture funding in the third quarter, prompting layoffs, cuts to product development and marketing.
Here are the venture deals you might've missed this week:
- Montra Technologies Inc., a business management software company, raised $1.1 million. Four investors participated in the raise, according to an SEC filing. The company provides software to help businesses manage things such as employee onboarding, identity management and device procurement, according to its LinkedIn. The company has an office in the Lumberyard Office Lofts at 1425 Ellsworth Industrial Blvd. It has been led by CEO Scott Ryan since December 2018.
- Bricz LLC, a supply chain software company based in Dunwoody, raised $1 million. One investor participated in the raise, according to an SEC filing. The business also has offices in Europe and Asia, according to its website. The Home Depot Inc., NFI Group Inc. and Ingram Content Group are among its customers. It is led by CEO Ram Gopalakrishnan who founded the company in 2013. It has an office at 4780 Ashford Dunwoody Rd.
- Rimidi Inc., a company that provides software to clinicians to monitor their patients’ health, raised $375,000 in a $700,000 round. Six investors participated in the round, according to an SEC filing. In 2021, the company started working with Emory Healthcare to provide neurological conditions and orthopedic surgery patients with apps that monitor their treatment progress. It was selected as an Atlanta Inno Fire Award winner in 2020. The company has been led by founder and CEO Lucienne Ide since September 2011, according to LinkedIn. It has raised at least $9 million to date, according to past SEC filings.
- Revest Finance LLC, a fintech company that manages NFTs, raised $200,000. One investor participated, according to an SEC filing. The company has been led by CEO Rob Montgomery since May 2021, according to LinkedIn. Its partners include Chainflow Capital, Cyberfi, Newfield Fund and DeltaHub Capital, according to its website.
