Stamos Group-backed nCrypted Cloud Raises Half of $2.5 Million Debt Offering

7/15/12

By Bill Murphy


nCrypted Cloud LLC, a stealth startup presumably offering cloud-computing services, has raised $1.25 million, or half of a $2.50 million debt offering, from eight investors, according to an SEC filing.

Principals named in the filing by the Belmont-based firm are the following executives:

- Nicholas Stamos of The Stamos Group; and
- Igor Odnovorov;

The Stamos Group helps startups with writing a business plan, crafting funding strategies and building a team.

Stamos has previously been associated with Phase Forward, which completed a $280 million initial public offering in 2004. The firm, which claimed a peak valuation of $1.2 billion in 2007, was acquired by Oracle for $685 million in 2010.

Stamos also acknowledges a ?bust? in Amulet and that the jury is out on its investment in Verdasys.

Reg D filing: http://tinyurl.com/d4nctb5

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