Austin social media firm scores millions in financing

Sep 27, 2013
Austin Business Journal

Social media tool maker fisoc Inc. received $11.4 million of a planned $21 million financing

The Austin-based company collected the capital from 24 investors, according to a Thursday filing with the U.S. Securities and Exchange Commission

Fisoc, founded in 2009, develops social media tools for financial institutions. The company employed 25 workers last year

In late 2012, fisoc announced the completion of a $5 million Series C round of funding. It came four days after a federal filing indicated that it received a $1.7 million financing from 19 investors

The company planned to use the capital to service customers and generate contracts in the Upper Midwest, South, and Northeast, company executives said at the time

Investors included Greycroft Partners, New Jersey-based KEC Holdings LLC, New York-based Metamorphic Ventures, Austin-based Daylight Partners and local angel investors

In June 2012, it received $4.3 million from 28 investors, including the conversion of convertible notes totaling $992,000, according to a SEC filing

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