Quietly, a trio of JupiterOne veterans is raising money for a new stealth startup.
Akash Ganapathi, former senior director of product management at JupiterOne, a Morrisville-based firm operating in the cybersecurity space, has teamed up with Charlie Duong and Austin Kelleher on a new endeavor referred to as Opine Market in securities filings.
All three left JupiterOne in August. None of them have returned requests to comment on the new company.
In September, the trio closed on a $50,000 fund that is a mix of debt, options and securities.
Initially, the target was $500,000. But it looks as though they’ll have even more capital in the new year, as last week that sum increased to nearly $1.8 million from 10 investors. The fund is now targeted to raise $2.5 million, according to a recent securities filing.
It’s notable — as shifting valuations, what some have called an industry correction, have made for a tough environment to raise capital.
According to the latest securities filing, $325,000 of the firm’s fundraise will go toward paying executive officers, directors or promoters.
Opine Market registered to do business in North Carolina on Sept. 11, but incorporated in August in Delaware.
The group announced their new move on LinkedIn, with Ganapathi calling Duong and Kelleher “literally the best I have ever worked with in terms of skill, tenacity, customer commitment and business focus.”
