Raleigh’s Undercover Colors raises another $5.5 million in funding. In other funding news, Aberdeen-based TCI Software lands $1 million.
UnderCover Colors disclosed the newest funding last week. The company disclosed raising $3 million earlier this year and $190,000 a year ago.
Undercover Colors Inc. filed a Form D notice on Nov. 10. The date of the company’s first sale was in August of this year. The filing does not state what the company intends to do with the money.
- VIDEO: Watch a video primer about the company at: https://www.youtube.com/watch?v=qaK9oK2PEkk
Undercover Colors aims to reduce the number of of drug-induced sexual assaults through wearable nail tech that identifies the presence of common date rape drugs in beverages through polish color change.
North Carolina State University graduates Tyler Confrey-Maloney, who is the CEO, and Stephen Gray, who is the COO, co-founded the company in 2014 with two other N.C. State engineering grads.
Confrey-Maloney and Gray say the inspiration for Undercover Colors came from meeting victims of drug-induced sexual assault while they were in college. According to its website, there was a “conviction that [they] could take the power [they] had as engineers to create something that gave power to others.”
- TCI Software files to raise $1 million
TCI Software is seeking to raise $1 million, with $887,500 remaining to be sold, according to a filing last week.
Four investors have participated in the offering. The filing does not state what the company intends to do with the money.
TCI Software is a software service company that helps health care executives manage their organizations’ profitability and comply with new Quality of Care, patient safety and performance improvement rules required by the Affordable Care Act.
Tim Maroney, president and chief executive officer, founded the company in 2013.