A Chapel Hill-based higher education software company has raised $3.3 million in a private equity offering, according to a filing Monday with the Securities and Exchange Commission.
Terra Dotta LLC raised the money from one investor, according to the filing.
The company last raised money in December 2015, when it raised $6 million, according to this SEC filing.
More than 560 educational institutions and businesses use Terra Dotta software to manage their application process and streamline their operations.
- VIDEO: Watch a video overview of Terra Dotta at https://www.youtube.com/watch?v=XqAJ6SY0EJ4
The company, which was founded in 2001, specializes in web-based enrollment, mobility and risk management software, and databases for offices. Its clients includes University of Arizona, Cornell University and Texas Tech University.
Brandon Lee is the company’s chief executive officer and cofounder.
Lee is responsible for all aspects of managing Terra Dotta’s business. His main interest lies in shaping the usability and accessibility of the company’s software.
Lee’s first study abroad experience in Pornic, France inspired him to continue French studies. While at UNC-Chapel Hill, he led undergraduate students on a semester-long trip to France and taught courses in French language and literature as well as communication studies.
He served on several University executive boards, including one that examined the role of technology in the future of the University, and with the Carolina Computing Initiative, through which students are provided laptop computers. These experiences led him to start Terra Dotta with co-founder Garrett Christian.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.