Atsign

Atsign

Closed: Apr. 2023

About this raise

Atsign, with a valuation of $35 million, is raising funds on Republic. The company has developed an open-source technology platform that helps to secure devices. The technology is used by system integrators, IoT device manufacturers, and organizations to make IoT devices invisible and impenetrable, IoT data unreadable, and IoT security affordable. The platform of Atsign, atPlatform, has components including atProtocol, atSign, atServer, atDirectory, atClient SDK, and atWidgets and atLibraries. Barbara Tallent, Colin Constable, and Kevin Nickels founded Atsign in July 2019. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1.24 million. The campaign proceeds will be used for technology and product development, sales and marketing, infrastructure, and general working capital.

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Investment Overview

Invested this round: $168,889

Deal Terms

Total Commitments

Platform
Republic
Start Date
02/22/2023
Close Date
04/23/2023
Min. Goal
$25,000
Max Goal
$1,235,000
Min. Investment

$150

Security Type

SAFE

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$35,000,000

Discount

20%

Company & Team

Company

Year Founded
2019
Industry
Security, Cybersecurity, & Defense
Tech Sector
EnterpriseTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Location
San Jose, California
Business Type
High Growth
Company Website
Visit Website

Team

Employees
33
Prior Founder Exits?
No
Founder Name
Barbara Tallent
Title
CEO & Director
Founder Name
Colin Constable
Title
CTO
Founder Name
Kevin Nickels
Title
CPO

Financials

as of Fiscal Year 2021
 Revenue +32% YoY
$89,125
 Monthly Burn
$318,189
 Runway
15.5 months

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$89,125

$67,654

COGS

$116,298

$15,799

Tax

$0

$0

 

 

Net Income

$-3,818,268

$-2,213,994

Summary Balance Sheet

FY 2021 FY 2020

Cash

$4,922,452

$1,962,389

Accounts Receivable

$0

$0

Total Assets

$4,975,186

$2,030,336

Short-Term Debt

$87,395

$150,484

Long-Term Debt

$0

$4,110,000

Total Liabilities

$87,395

$4,260,484

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$11,943,798
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/23/2023 Republic $35,000,000 $168,889 SAFE Funded RegCF
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Atsign on Republic 2023
Platform: Republic
Security Type: SAFE
Valuation: $35,000,000

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