Ben Franklin Technology Partners has supported us from the beginning when we presented in 2004 and the accepted us into their portfolio. Last year they invested $50,000 in us. We have another opportunity now for an additional round with them. Since they are a government backed VC, they have a strict application process that governs their rounds. We’ll submit the next one on Feb 5, it will get reviewed by outside sources, we’ll present to the portfolio board on March 5 and go before the Board shortly thereafter. Unless we get hung up somewhere along the way. That’s possible, but we’re working closely with them and they really want to see us succeed. The round is going to hinge on our launch of rVibe. In fact, that has pretty much been the message we’ve gotten all along - this is a tricky market and you are unproven as an entrepreneur team - get your product done and we’ll talk then. Chicken and Egg. Now we’re in range and it will be interesting to see. I’ve spoken to a couple M&A firms who believe strongly that when we launch we will be approached for investment as well as acquisition. We’ll see.

Originally published on WordPress on January 07, 2007. Migrated to this blog on May 29, 2025.