Boomerang Bike (2022)
About this raise
Boomerang Bike, with a valuation of $15.8 million, is raising funds on Silicon Prairie Online. The company has developed a GPS bike security system that uses IoT technology to prevent bike theft. The Boomerang CycloTrac is a bike alarm and GPS tracker that attaches to the bike and runs on cloud-based software through an app. Boomerang Bike is in the pre-ramp stage and generated revenues of $192,000 in 2020. The business has over 3,000 customers and expects to reach 5,000 customers soon. Kevin Fahrner founded Boomerang Bike in July 2013. The current crowdfunding campaign has a minimum target of $9,999.99 and a maximum target of $1,069,999.59. The campaign proceeds will be used for growth and expansion.
Investment Overview
Invested : $24,100
Deal Terms
Total Commitments
- Platform
- Silicon Prairie Online
- Start Date
- 06/21/2022
- Close Date
- 10/22/2022
$10,000
$1,070,000
$200
Equity - Common
Early Stage
RegCF
$0.33
$15,782,386
Company & Team
Company
- Year Founded
- 2013
- Industry
- Security, Cybersecurity, & Defense
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- High
Financials
- Revenue +84% YoY
- $192,161
- Monthly Burn
- $40,236
-
Runway
- 0.2 months
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $690,000
- VC Backed?
- Yes
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.