Federal filing: Gravitant raised $7.7M financing

Oct 31, 2013
Austin Business Journal

A regulatory filing on Wednesday revealed additional details about the Series B financing announced last week by software maker Gravitant Inc.

The Austin-based company, which last week reported a $10 million funding, said in the filing that it raised $7.7 million of a planned $10 million round of financing. Gravitant collected the capital from five investors, according to the filing with the U.S. Securities and Exchange Commission

Chief Marketing Officer Praveen Asthana said the company plans to raise the remaining $2.3 million within 90 days

Gravitant, founded in 2004, develops software designed to enable the deployment of virtual data centers and business applications by aggregating services from infrastructure-as-a-service providers, according to its online profile

Investors included Corsa Ventures and S3 Ventures, two local venture capital firms. As part of the deal, Corsa Ventures Managing Partner Alex Gruzen will join the company’s board of directors, executives said in an Oct. 23 news release

Last year, Gravitant received $3.7 million of a planned $5 million financing from three investors, an SEC filing indicates

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