RALEIGH — Silbo Inc., a Raleigh-based referee management and software payment company, has raised $1.3 million in debt, according to a Securities and Exchange Commission filing.

Silbo filed the Form D on Oct. 2.  According to the filing, the company must raise $700,000 more to sell its total offering amount. It did not specify how Silbo intends to use the proceeds.

Silbo specializes in developing a marketplace that connects experienced referees and sports officials with sports leagues. Referees and sports officials can use Silbo’s software RefXchange to manage their schedules and resumes. The software also allows sport leagues to recruit officials and make online payments.

Silbo

Silbo was founded in 2016 and has expanded to 10 metro areas, including Richmond, Virginia, and Jacksonville, Florida. It plans to expand to 24 cities by the end of 2021.

Brendan Szulik is the cofounder and chief executive officer of the company. A Duke University graduate, he previously worked at NetApp and Lucasfilm Animation.

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.

The form can be found here.

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism