TransparentBusiness, a NYC-based provider of a SaaS people management platform, completed its second round of financing.
The round brought the total amount raised by the company to over $6m. Backers included current and former executives of Morgan Stanley, Merrill Lynch, J.P. Morgan, Stifel, Bank of America, Barclays Global Investors, UBS, Wells Fargo, Goldman Sachs, Citigroup, Trust Company of the West, Deutsche Bank, Accenture, and Telefónica, which invested through Wayra.
The company chose to raise funds from individual investors using new SEC Rule 506(c) which allows for “general solicitation and advertising” of the investment opportunity.
Led by Silvina Moschini, Founder, TransparentBusiness provides a platform for users to increase freelancer productivity, protect client budgets from overbilling, allow coordination and monitoring of their work force, and provide real-time information on the cost and status of all tasks and projects.