Altwork
Growth Stage
Welcome the seismic shift to hybrid/remote work with the Tesla of workstations
Overview
Raised: $224,648
Total Commitments ($USD)
Platform
Republic
Start Date
03/01/2022
Close Date
10/01/2022
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$25,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
10/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,055
# of Investors
297
Momentum
Funded
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Year Founded
2010
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Altwork, with a valuation of $25 million, is raising funds on Republic. The company makes ergonomic workstations aimed to provide comfort and increase productivity. The Signature Series of Altwork workstations is gravity-defying and prioritizes movement and connection. Altwork has generated $9 million in lifetime revenues with a 50-80% profit margin per unit. Che Voigt and John Speicher founded Altwork in December 2010. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used for growth and expansion.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$2,934,527 |
$2,563,100 |
|
COGS |
$1,471,325 |
$1,784,635 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-198,134 |
$-943,697 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$889,841 |
$240,402 |
|
Accounts Receivable |
$48,173 |
$43,285 |
|
Total Assets |
$1,524,330 |
$830,938 |
|
Short-Term Debt |
$294,290 |
$386,571 |
|
Long-Term Debt |
$6,270,260 |
$4,814,525 |
|
Total Liabilities |
$6,564,550 |
$5,201,096 |
Financials as of: 03/01/2022
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