Just in time, PRSONAS closes $1M round to secure Steve Case as investor | - Part 16947141
Summary
David Rose, CEO of fast-growing startup PRSONAS which has topped $1 million in sales for its hologram technology, can add a new term to venture capital: “Just in time.” With only days to spare, the Durham startup closes on a $1 million round of funding and thus beats a deadline to secure $100,000 from AOL founder Steve Case. But perhaps more importantly than raising the cash from case is securing the credibility his endorsement means for the company. “Winning the Silicon Valley Open Doors event earlier this year and being selected to pitch at Google Demo Day definitely helped us get the attention of new investors,” Rose says. “I worked full-time to get the round closed before the 9/16 deadline and talked to dozens of potential angel investors all over the country. Ultimately, the new investors that participated in the round all came through introductions from our current investors.” It’s been a whirlwind year for Rose and company, the funding adding to the pressure of also developing and deploying new technology (augmented reality, virtual reality) while expanding staff anf preparing for more patents.