Athyna

[Closed for Investment] Athyna, with a valuation of $20 million, is raising funds on Wefunder. The company has developed a global employment platform to hire, manage, and retain global talent. The platform is the one-stop shop for hiring talent, payroll, benefits, taxes, and sustainability of global teams. Athyna gives the users the ability to onboard and manage their contractors, hire full-time employees, and manage the performance of the employees. The company is bootstrapped to $2.9 million ARR and has reported a 17% month-over-month revenue growth for two years. Bill Kerr founded Athyna in November 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for sales and marketing, product and engineering, recruitment, and operations.

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Investment Overview

Raised this Round: Raised: $374,273

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
07/28/2022
Close Date
01/31/2023
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$16,000,000

Valuation Cap

$20,000,000

Discount

0%

Company & Team

Company

Year Founded
2019
Industry
Business Services, Software, & Applications
Tech Sector
EnterpriseTech
Distribution Model
B2B
Margin
Low
Capital Intensity
Low
Location
San Diego, California
Business Type
High Growth
Company Website
Visit Website

Team

Employees
61
Prior Founder Exits?
No
Founder Name
Bill Kerr
Title
CEO
Founder Name
Drew Slater
Title
Formal founder

Financials

 Revenue +3% YoY
$927,435
 Monthly Burn
$40,019
 Cash on Hand
$183,188
Gross Margin
35%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$927,435

$223,541

COGS

$605,372

$118,350

Tax

$0

$0

 

 

Net Income

$-480,226

$30,497

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$183,188

$38,349

Accounts Receivable

$29,391

$264

Total Assets

$233,244

$38,613

Short-Term Debt

$682,973

$8,116

Long-Term Debt

$0

$0

Total Liabilities

$682,973

$8,116

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Analyst Report Analyst Report Methodology Article

Athyna is riding remote hiring trends with a global employment platform that spans across borders. Its network largely tailors to American startups tapping into talent in Latin America and South America, where cost of living is lower but time zones are consistent with American companies.

Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
07/31/2024 Wefunder $20,000,000 $150,006 SAFE Funded RegCF
04/28/2023 Republic $16,000,000 $58,750 SAFE Funded RegCF
01/31/2023 Wefunder $20,000,000 $374,273 SAFE Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

Founder Profile

Athyna Founder Bill Kerr on Building a Strong Brand and Culture

Telecommuting has become increasingly popular in the last few years, opening up more opportunities for work that aren’t limited by geography. With that has come the challenges of running remote businesses -- sourcing talent in the ever-expanding market, managing payroll and taxes... not to mention the challenge of keeping business practices sustainable. 

Athyna has become a one-stop shop for hiring global talent, as well as managing the other aspects of remote business like payroll, benefits, and taxes. The company has also made a sustainability pledge. We got in touch with founder and CEO Bill Kerr to learn about his team, the company’s commitment to making an impact, and future goals for Athyna.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview

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Add to portfolio
Athyna on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $20,000,000

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Warning: according to the close date for this deal, Athyna may no longer be accepting investments.

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