Projexion Inc. has raised $375,000 from investors this month, according to a U.S. Securities and Exchange filing.
The Tampa-based company, which sells risk mitigation software for construction, received the money in exchange for debt from three investors. The raise is the second public funding since its launch in 2021.
The company did not comment on the raise.
Projexion's website describes its product as a data-based way to help construction managers analyze and predict risks to profitability. It also offers ways to take action against that in real-time.
The company is an Embarc Collective member. It has partnered with three Maryland-based companies: construction company Harkins, project management firm JFW Project Management and real estate investment firm Davenport Group. It also has partnered with Virginia-based non-residential leasing group Orr Partners, according to its website.
The company is run by CEO and founder Joe Wilson, who has a background in construction and real estate, and CTO and co-founder Karl Kroeber. Kroeber is a software developer who moved to the U.S. in 2021.
According to the filing, the company is looking to raise $500,000 in total, meaning $125,000 remains before the round is closed. It also offered convertible promissory notes, which are notes of debt that convert to equity after particular events, according to the filing.
It also raised $65,000 from four investors in 2022. That was the first public investment for the company, then operating in stealth mode under the name PRx.
