The Seed Funding Round for Traipse closed in October, with total proceeds of $202,500! This far exceeded our initial goal of $150,000, which was raised to $200,000 following participation by members of the Shenandoah Valley Angel Investors, and expanded software development goals for the year.
This capital puts us in a great position to accomplish our goals for 2017 and 2018, which include software development, capacity building, and a comprehensive re-branding initiative, all of which are already underway. Version 2 of the Traipse app will have vastly improved navigation and a cleaner look, along with new functionality that will allow app users to build their own Traipse tour based on their interests and preferences.
Although Traipse is a “post-revenue” company, we knew we needed to move quickly to build out our vision and head off any competitors in the active spaces of tourism apps and geolocation gaming. We determined that a raising a small amount of capital with convertible debt as an instrument would provide us with the most financial flexibility going forward while also being an appealing proposition to investors. A total of 17 investments were made during this round, ranging in amount from $1,000 to $50,000, originating from five states and the District of Columbia, plus one international investment.
We are so grateful for all of those individuals who chose to invest in Traipse, and are humbled by their support and confidence in our plans.