About this raise: Bioverge, with a valuation of $25 million, is raising funds on Republic. The company has developed a health technology investment platform to merge sci-fi with fintech. The platform is democratizing investing in curated healthcare technology startups with its portfolio of 37 companies with a value of over $3 billion. Bioverge offers a variety of investment options, including deal-by-deal investments, Bioverge Access funds, and thematic funds. Neil Littman and Rick Gibb founded Bioverge in August 2017. 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 product development, sales and marketing, new hires, and working capital.

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Investment Overview

Invested this round: $138,007

Deal Terms

Total Commitments ($USD)

Platform
Republic
Start Date
05/12/2023
Close Date
08/07/2023
Min. Goal
$25,000
Max. Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$18,000,000

Valuation Cap

$25,000,000

Discount

20%

Company & Team

Company

Year Founded
2017
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
Location
San Francisco, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
6
Prior Founder Exits?
No
Founder Name
Rick Gibb
Title
COO
Founder Name
Neil Littman
Title
CEO

Financials

as of Fiscal Year 2022
 Revenue -1.6% YoY
$247,786
 Monthly Burn
$33,850
 Runway
9.6 months
Gross Margin
80%

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$247,786

$251,720

COGS

$49,972

$26,101

Tax

$0

$0

 

 

Net Income

$-406,203

$-591,903

Summary Balance Sheet

FY 2022 FY 2021

Cash

$324,314

$487,668

Accounts Receivable

$0

$0

Total Assets

$567,769

$751,759

Short-Term Debt

$52,668

$178,120

Long-Term Debt

$0

$0

Total Liabilities

$52,668

$178,120

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$2,300,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
08/07/2023 Republic $25,000,000 $138,007 SAFE Funded RegCF
02/28/2022 Netcapital $10,014,900 $710,266 Equity - Common Funded RegCF
05/13/2021 Netcapital $10,014,900 $0 Equity - Common Funded Test the Waters / 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

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Bioverge on Republic 2023
Platform: Republic
Security Type: SAFE
Valuation: $25,000,000

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