First Orion Corp. of Little Rock was expected to complete its $4 million private placement by the end of last month.
The technology firm that provides caller ID services will use some of the money raised for a new product called CallerYD from subsidiary PrivacyStar, said Craig Dunn, First Orion’s CFO.
CallerYD is “going to be displaying a lot more information about calls on mobile handsets so that callers know not only who’s calling but why,” Dunn said. He said that will come in handy from calls coming from businesses.
Dunn said that product had been in development for several years.
PrivacyStar touts on its website that every month it blocks millions of unwanted phone calls “while delivering hundreds of thousands of complaints against offending callers directly to the FTC — more than anyone.”
In the last year, First Orion, which was founded in 2007, has added about 40 employees for a total north of 100. In the next six months, it plans to hire 15-20 workers for a number of jobs from coding to sales, Dunn said.
Former Acxiom Corp. CEO Charles Morgan is the chairman and CEO of First Orion.
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