Pickwick Client Puraclenz, Provider of Air & Surface Purifiers, Closes $1Million Investment from Longfellow Park Ventures
OLD GREENWICH, CONNECITCUT, UNITED STATES OF AMERICA, April 29, 2024 /EINPresswire.com/ -- Puraclenz Closes $1 million Investment with Longfellow Park Ventures
With a doubling of its revenue in 2023 to $4 million in its second full year of business, Interior Air Quality (IAQ) tech firm Puraclenz Holdings Inc. (“Puraclenz”) announced the closing of a $1 million combination royalty and equity investment by Boston based Longfellow Park Ventures, LLC (“Longfellow”). The $500,000 equity portion of the investment is priced at a pre-money valuation of $12.9 million. Longfellow has the option for a second $1 million combination royalty and equity investment.
“We could not have found a better investment partner than Longfellow who has committed to take the lead in our $4.5 million Series A investment offering,” said Puraclenz CEO Chris Dooley. Introduced in mid-2021, Puraclenz has sold over 18,000 units and generated $7.5 million in cumulative revenue via direct sales to consumers (DTC) and business to business (B2B) channels.
Puraclenz’s one of kind solution is scientifically proven to automatically purify both air and surfaces. Puraclenz products use a patent and trade secret protected technology, the Photocatalytic Oxidation Cell (PCO Cell) that produces active ions and is scientifically proven to stop mold growth, destroy viruses and deactivate bacteria mid-air and on surfaces, all while being certified safe for people, pets, and plants. No other IAQ product in the marketplace has independently conducted laboratory studies to prove such claims.
Longfellow Park Ventures, LLC invests growth capital into companies generating annual revenue of $5 to $50 million, with gross margins of at least 50% and have a strong track record of management success. The firm’s royalty investment is non-dilutive and is an inexpensive cost of capital relative to equity VC’s or private equity firms. “We are impressed with the Puraclenz management team and their results oriented focus on the company’s future,” said Longfellow’s Managing Partner, Michael Haight.
Email: [email protected]
www.puraclenz.com
Chris Dooley- CEO
Puraclenz Holdings Inc.
+1 833-360-7872
[email protected]
With a doubling of its revenue in 2023 to $4 million in its second full year of business, Interior Air Quality (IAQ) tech firm Puraclenz Holdings Inc. (“Puraclenz”) announced the closing of a $1 million combination royalty and equity investment by Boston based Longfellow Park Ventures, LLC (“Longfellow”). The $500,000 equity portion of the investment is priced at a pre-money valuation of $12.9 million. Longfellow has the option for a second $1 million combination royalty and equity investment.
“We could not have found a better investment partner than Longfellow who has committed to take the lead in our $4.5 million Series A investment offering,” said Puraclenz CEO Chris Dooley. Introduced in mid-2021, Puraclenz has sold over 18,000 units and generated $7.5 million in cumulative revenue via direct sales to consumers (DTC) and business to business (B2B) channels.
Puraclenz’s one of kind solution is scientifically proven to automatically purify both air and surfaces. Puraclenz products use a patent and trade secret protected technology, the Photocatalytic Oxidation Cell (PCO Cell) that produces active ions and is scientifically proven to stop mold growth, destroy viruses and deactivate bacteria mid-air and on surfaces, all while being certified safe for people, pets, and plants. No other IAQ product in the marketplace has independently conducted laboratory studies to prove such claims.
Longfellow Park Ventures, LLC invests growth capital into companies generating annual revenue of $5 to $50 million, with gross margins of at least 50% and have a strong track record of management success. The firm’s royalty investment is non-dilutive and is an inexpensive cost of capital relative to equity VC’s or private equity firms. “We are impressed with the Puraclenz management team and their results oriented focus on the company’s future,” said Longfellow’s Managing Partner, Michael Haight.
Email: [email protected]
www.puraclenz.com
Chris Dooley- CEO
Puraclenz Holdings Inc.
+1 833-360-7872
[email protected]
