Print
Technology

KWIPPED Receives $1.3M Investment

By Johanna Cano, posted Jul 19, 2019
Wilmington-based KWIPPED Inc. has received an investment of $1.3 million from Live Oak Ventures, Wolfpack Investor Network, VentureSouth and the Angel Roundtable, according to a filing with the U.S. Securities and Exchange Commission.

Previously, Live Oak Ventures announced it was investing an undisclosed amount in KWIPPED to be used by the tech startup for recruiting new talent and adding suppliers.

Rob Preville, CEO and founder of KWIPPED said earlier this year that Wolfpack Investor Network, Venture South and the Angel Roundtable participated alongside Live Oak Ventures in the investment.

The startup raised all its goal funding amount through a private stock and equity offering, according to the filing.

KWIPPED is a B2B online marketplace for equipment rental and leasing that has raised a total of $2.16 million in the past two years.

In 2017, the company raised $579,809 in equity from 15 investors and, in another round that same year, it raised $272,500 in equity and debt from 10 investors.

KWIPPED is headquartered in downtown Wilmington.

Live Oak Ventures is a subsidiary of Live Oak Bancshares with a goal in investing companies that “support entrepreneurial companies fostering fintech growth in our local community,” stated a release.

Wolfpack Investor Network is an investment group from N.C. State University that brings together N.C. State alumni and innovative private companies, according to its website.

VentureSouth is an angel investment network that recently started a Wilmington chapter and is led by Rob Kaiser, its director.

The Angel Roundtable invests in late seed and early-stage companies with a Southeastern U.S. focus.

(Preville and Kaiser are part owners of KWIPPED. Preville is part owner of the Greater Wilmington Business Journal along with Kaiser, who is publisher of the Business Journal.)
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign4

Paving the Way to Better City Streets

Tony Caudle - City of Wilmington
Georgiarowe

Salling and Tate Dentistry Launches Annual "Gunner’s Runners" Shoe Collection Event, Aiming to Surpass Last Year's Success

Georgia Rowe - Wide Open Tech
Pfinder john zachary

What You Need to Know About SECURE 2.0 and Its Effect on Individual Retirement Accounts

John B Zachary - Pathfinder Wealth Consulting

Trending News

Passenger Rail Study Offers New Details About Proposed Wilmington To Raleigh Route

Emma Dill - Apr 22, 2024

Severe Weather Postpones Trump Rally In Wilmington

Emma Dill - Apr 20, 2024

Will NC Be CNBC's Three-time Top State For Business?

Audrey Elsberry - Apr 22, 2024

In The Current Issue

With Coffee And Cocktails, Owners Mix It Up

Baristas are incorporating craft cocktail techniques into show-stopping coffee drinks, and bartenders are mixing espresso and coffee liqueur...


Funding A Food Oasis: Long-awaited Grocery Store Gains Momentum

With millions in committed funding from New Hanover County and the New Hanover Community Endowment, along with a land donation from the city...


Surf City Embarks On Park’s Construction

“Our little town, especially the mainland area, is growing by leaps and bounds. So having somewhere else besides the beach for kids to go an...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season