Drastin was acquired by Splunk a year after raising capital on the Propel(x) investment platform
In this episode of our ongoing series of Portfolio Updates, we turn the clock back a few years to take a look at a company that was acquired the year after they raised capital on the Propel(x) investment platform.
Founded in 2014 and headquartered in Silicon Valley, Drastin is a software company specializing in search-driven, voice-enabled conversational analytics aiming to simplify the access and analysis of enterprise data sources and democratize data to decision-makers.
In 2016, Propel(x) investors participated in a Seed Funding capital raise utilizing a convertible debt structure.
In the year following the capital raise on Propel(x), Drastin was acquired by Splunk, a public company listed on the NASDAQ stock exchange.
Seed investors shared in a liquidity event when the acquisition occurred for an undisclosed sum.
If you are interested in building your portfolio by adding investments in startups, you can find more information here on how to start angel investing and how to find opportunities for angel investing on the Propel(x) platform.
This article is for informational purposes only. We do not provide legal, financial, or tax advice and investors should consult their advisors prior to making any investment. As with any investment, past performance is no guarantee of future performance, and any investment decision must balance the risk against the potential return. Private investments are highly illiquid and risky and are not suitable for all investors. There is no guarantee that a liquidity event will ever take place.
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Originally published at https://www.propelx.com on November 15, 2022.
