Commerce Signals, a Charlotte-based software company, raised $3.9 million by selling debt, according to a Securities and Exchange Commission filing.

The company filed the Form D on Wednesday. According to the form, Commerce Signals must collect an additional $9,886 to sell its entire offering of $4 million. It did not specify how Orchard Systems intends to use the proceeds.

Commerce Signals was founded in 2012 and aims to connect advertisers and publishers directly with real-time insights from financial institutions. Advertisers use the information to analyze media tactics and measure the incremental cross-channel sales driven by their advertising.

Founder and CEO Thomas Noyers has been recognized as one of the Top 25 influencers in banking and financial services. He earned a degree in aerospace engineering from University of Tennessee and an MBA from University of Houston.

Noyers has held roles ranging from a NASA engineer to head of channels for Citigroup’s Global Consumer Group.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The form can be found here.