What It Means To Have A Honey Badger Culture

Aside from being fearless, the company is on its way to closing an equity round according to its founder, Shannon Kinney. The capital will be used to ramp up sales and marketing efforts. Kinney said the $100,000 has been committed in the round with another $30,000 to $50,000 “soft circled.” Kinney said revenue is expected to be between $2.5 million and $3.2 million this year, trending towards $5 million within 18 months of January 2018. The company had previously raised nearly $1 million in convertible debt over the course of several seed rounds since 2013. It recently completed transitioning those convertible note holders to equity stakeholders, according to a filing with the SEC. Ten investors representing $997,027 in debt had been converted to equity as part of the “conversion transaction,” according to the filing. Those early investors are Maine Venture Fund, five members of Maine Angels, and three independent investors, according to Kinney. Read about more capital raises happening in Maine at TechCo