An industrial-strength cybersecurity platform company raised $11 million from 14 investors, according to a filing with the Securities and Exchange Commission.
Bayshore Networks Inc. filed the Form D on April 6. The the first sale occurred on April 20, 2016. The company does not expect the offering to last more than one year, and the offering is not being made in connection with a business combination transaction.
The company develops cybersecurity software for the industrial Internet of things. It deploys a cloud-based program, Bayshore IT/OT Gateway, which enables secure transactions in manufacturing operations, robotics automation and M2M communications. Founded in 2012, it has strategic partnerships with companies such as BAE systems, Cisco, SAP and VMware.
Bob Lam, co-founder and vice president of finance and corporate development, signed the Form D on April 6.
The company claimed a Rule 506 exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file a Form D electronically with the SEC after they first sell their securities.
