Authentically American
About this raise
Authentically American, with a valuation cap of $7.5 million, is raising funds on NextSeed. It is an apparel company that makes high-quality and 100% American-made apparel. The company aims to bring textile jobs back to America and create high-quality garments. The offerings of Authentically American include stylish polo shirts, quarter zip, pullover, full-zip jackets, and t-shirts. Authentically American was founded by Dean Wegner and Kelly Wegner in 2017. The current crowdfunding round has a minimum target of $100,000 and a maximum target of $500,000, and the funds will be used towards working capital, inventory, B2B advertising, consumer brand advertising, and hiring of a new sales manager. Authentically American garments are competitively priced, with a gross margin of 39.5%. The company reported a 316% growth in revenue in the first quarter of 2020 compared to the first quarter of 2019.
Investment Overview
Invested : $499,700
Deal Terms
Total Commitments
- Platform
- NextSeed
- Start Date
- 04/22/2020
- Close Date
- 10/29/2020
$100,000
$500,000
$100
SAFE
Early Stage
RegCF
$7,500,000
20%
Company & Team
Company
- Year Founded
- 1969
- Industry
- Apparel & Fashion
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- High
Financials
-
Revenue
- $637,826
- Monthly Burn
- $69,892
-
Runway
- 0.5 months
- Gross Margin
- 19%
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 10/29/2020 | NextSeed | $7,500,000 | $499,700 | SAFE | Funded | RegCF |