Amesite Inc. Raises $5.5 Million in Oversubscribed Financing Round
Company Provides Customized Learning Paths Developed by AI-Powered Online Platform for Enterprises, Colleges and Universities
ANN ARBOR, MI / ACCESSWIRE / January 6, 2020/ Amesite Inc., (the “Company”) an artificial intelligence software company providing fully-managed, customized, online learning ecosystems for the enterprise and higher education markets, today announced that it has closed an oversubscribed $5.5 million financing round to certain accredited investors. The Company has raised a total of $11 million in funding from private financings since its founding in 2017.
As the Company continues to grow its portfolio of artificial intelligence software products designed to improve learning, the net proceeds from the financing will be used to support sales and marketing efforts across its growing customer base and support company operations.
“To ensure employees have the in-demand skills they need to succeed in the future of work, and students and teachers have access to up-to-the minute learning materials, we are committed to investing in our machine learning and artificial intelligence-powered platform,” said Dr. Ann Marie Sastry, chief executive officer, Amesite Inc. “Our most recent financing will be instrumental in helping us support our growing customer base of enterprises and higher education institutions, while bolstering our continued software innovation efforts and growth into new markets.”
Laidlaw & Company (U.K.) Ltd. acted as the exclusive placement agent for the offering. Laidlaw’s Head of Capital Markets, Jim Ahern, commented, “Laidlaw is excited to be partnering with Amesite, who bring world class innovation and expertise that is needed to unlock the tremendous value of applying machine learning and artificial intelligence to learning environments. We look forward to our journey ahead with them.”
Amesite’s online learning solutions for enterprises, colleges, universities, faculty and students utilize artificial intelligence technologies, including machine learning and natural language processing, to deliver cost effective, cloud-based digital versions of courses that greatly enhance and improve the learning experience of students. Amesite’s online platform includes customized user messaging and tracking as well as seamless integration of updated topics and materials into traditional course curriculum, creating a more meaningful experience for both students and instructors alike.
The securities sold in Amesite’s private financing have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Amesite Inc.
Amesite is a high-tech artificial intelligence software company offering a cloud-based platform for learning products to be cost-effectively and conveniently delivered to learners online, in business, higher education and K12. Amesite uses artificial intelligence technologies to provide customized environments for learners, and easier-to-manage interfaces for instructors. For more information, visit https://amesite.com/.
Forward Looking Statements
This communication contains forward-looking statements concerning the Company, the Company’s planned online machine learning platform, the Company’s business plans, any future commercialization of the Company’s online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company’s filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
At Laidlaw, our top priority is to deliver consistent and superior service to our clients and their families. Given the fast-moving developments related to COVID-19, we have been closely monitoring the reports and recommendations from the Center for Disease Control as well as other governmental agencies and health care professionals to determine how these developments might impact our operations and commitments to our clients.
At the same time, we are taking precautions to protect the health and safety of our team and their families. Fortunately, we already operate from multiple locations thus already affording us a great degree of “social distancing” as a result. Also, our infrastructure is designed to give our employees connectivity to the firm and seamless communications with their colleagues, clients and constituents regardless of where they may be located. We have tested these systems and are monitoring them for full compliance with our business continuity plans which, at their core, allow for a distributed workforce.
To protect our team, we have directed employees in any of the high-risk groups to remain in their homes and to work remotely. In addition, we are accommodating employees to work from home who have child-care needs caused by interruptions to schools and day care services. As a further precaution, many other employees are currently working remotely. We are ever mindful about how best to support their work and service to you and will continue to monitor the locations where we operate as well as take directions from our local, state and federal officials regarding further restrictions and guidelines for our business and the people who serve you. The good news during this time is that our business continuity procedures and technological architecture are designed to allow our team to operate remotely. As we progress through this crisis, we may indeed need to work 100% remotely. These extraordinary steps are likely as we work with the rest of our country to curtail the spread of the virus while upholding our commitments to all involved.
On behalf of our entire team, we want to thank you for your understanding and support during this challenging time. Most importantly, we want to support you and wish you, and your families and friends good health as we progress through this national emergency together. Your concerns are our concerns. Please keep us appraised of any needs you have that our team can help to meet. We will post updates to our status on our Laidlaw homepage at https://laidlawltd.com
With warm regards,
Richard J. Calhoun, Jr.
Chief Executive Officer
Laidlaw Wealth Management
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