SILVER SPRING, MD – Weather Analytics LLC, a Washington D.C.-area technology startup, has raised $17 million in a private equity offering, according to a Thursday filing with the Securities and Exchange Commission.
The Form D, signed by Weather Analytics President Chris Skarinka, disclosed that the $17 million offering’s first sale occurred on Feb. 22 and garnered funds from two investors, who received equity in the form of both common shares and Series B preferred shares.
Silver Spring-based Weather Analytics mines, stores and analyzes atmospheric data to build predictive weathers models, which it then uses to create risk-assessment products it markets to private-sector clients, as well as the U.S. government.
In April 2013 Weather Analytics announced an investment partnership with the non-profit venture capital firm In-Q-Tel, which was chartered by the CIA in 1999.
Based on previous regulatory filings, Weather Analytics has raised at least $33 million since it was founded in 2012 by Chief Executive Bill Pardue, a former president and chief executive of online information provider LexisNexis.
The company did not disclose revenue, nor did it say what it intends to do with proceeds from the offering, but it did disclose that none of the money raised will go toward executive payments.
The company claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file a Form D electronically with the SEC after they first sell their securities.
The filing can be found here.
This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism