BROOMFIELD — TownCloud, an app platform built specifically for local governments’ needs, has raised $1 million.
The Broomfield company is seeking the funding funding by offering up debt, according to a Form D filed with the U.S. Securities and Exchange Commission, May 24. The company had filed a form saying it had raised $500,000, but Michael Littman, an attorney for TownCloud, said the company had a private placement for the full $1 million and would be filing an amended form.
The company has built a suite of software for local government, including an easy agenda publisher, method of communication between citizens and elected officials, and analytics dashboard.
“TownCloud is creating a comprehensive enterprise tool that allows local governments to significantly reduce IT costs while providing a totally modern way to interact with citizens,” according to its website.
Apps begin at $99 per month with no long-term contract or up-front capital investment.