Posted 12/16/2013 12:00 am
Updated 1 year ago
A technology company in Bentonville has raised nearly $550,000, according to a Securities & Exchange Commission filing late last month.
Movista LLC will use the money for growth, President Stan Zylowski said. Most of the money came from the angel investor groups, Fund for Arkansas Future LLC of Little Rock and Mid-America Angels of Lenexa, Kan., he said.
Launched in 2010, Movista sells its app system to retailers, manufacturers and brokers.
The system can be used for selling, auditing and training, according to the company’s website.
Movista, an Innovate Arkansas client firm, has seen 300 percent revenue growth each year of operation, said Zylowski, who with April Seggebruch founded the company, which now has 24 employees.
Zylowski said he didn’t have any immediate plans for future rounds of fundraising.
“As opportunities arise we definitely understand that taking on more capital from an investment capital perspective might be necessary, but it might not,” he said.