ANN ARBOR Kinderstreet on Monday announced it had privately raised $825,000 by selling five-year convertible notes and warrants to purchase 412,500 shares of common stock, money that will be used by the software company to develop new products and pursue other business expansion opportunities.
Kinderstreet, which was founded in 2000, specializes in the delivery of after school and day camp communication and management applications. The companys Center Management Application, Parent Communications, Online Registration and State Connect products are used by over 130 schools in 15 states to manage service delivery and parent communications.
As an early investor and director, I am pleased that this private placement was oversubscribed, said Frank Hennessey, Chairman of Hennessey Capital Solutions.
