CL&M Assists RightAnswers, Inc. with Venture Capital Financing
On August 30, 2005, CL&M client RightAnswers, Inc. closed a Series B Preferred Stock venture capital financing led by NJTC Venture Fund SBIC, LP. RightAnswers is an online software company that provides information solutions for IT help desks. This financing, which raised $2.3 million, was the company's first institutional round, and will allow the company to substantially expand its sales and marketing efforts. Simultaneous with the funding, we converted the company from an LLC to a corporation, with some complex tax twists on deal structure.
The CL&M team was led by Alan J. Bernstein with Howard J. Barnet, Jr., Sharon Rosen and Bram Kranichfeld.
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