LogicBay Inc. has closed on a $550,000 round of financing arranged by Taunton-based SEED Venture Finance LLC, the companies announced. The money will be used for working capital to allow LogicBay to continue its expansion.

The investment was made in the form of a subordinated note with detachable warrants – the method SEED typically employs, though the private investment firm will sometimes also consider equity, senior debt or royalty-based financing.