Bright Trip

Bright Trip

Closed: Apr. 2023

About this raise

Bright Trip, with a valuation of $25 million, is raising funds on Republic. The company has developed a video platform for people to prepare better for their trips. The platform is reinventing the way people learn about travel destinations through smart and entertaining videos uploaded by the creators. Bright Trip is a video-first travel brand that also enables creators to monetize their content. The platform has more than 50 creator partnerships, four million YouTube video views, and a run rate of $1 million. Andrew McGarrity, Johnny Harris, Evan Freeze, and Iz Harris founded Bright Trip in February 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: $76,188

Deal Terms

Total Commitments

Platform
Republic
Start Date
03/01/2023
Close Date
04/29/2023
Min. Goal
$25,000
Max Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$25,000,000

Discount

0%

Company & Team

Company

Year Founded
2019
Industry
Travel and Hospitality
Tech Sector
MarketplaceTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Location
Franklin, Tennessee
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
Yes
Founder Name
Andrew Mcgarrity
Title
CEO
Founder Name
Johhny Harris
Title
Chief Brand Officer
Founder Name
Iz Harris
Title
CMO
Founder Name
Evan Freeze
Title
CTO

Financials

 Revenue +65% YoY
$342,984
as of FY2021
 Monthly Burn
$25,622
as of FY2021
 Runway
2.8 months
as of FY2021
 Gross Margin
42%
as of FY2021

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$342,984

$119,781

COGS

$198,532

$56,037

Tax

$0

$0

 

 

Net Income

$-307,466

$-9,271

Summary Balance Sheet

FY 2021 FY 2020

Cash

$72,452

$123,423

Accounts Receivable

$0

$0

Total Assets

$521,535

$296,645

Short-Term Debt

$11,277

$4,921

Long-Term Debt

$849,449

$323,499

Total Liabilities

$860,726

$328,420

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$885,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/29/2023 Republic $25,000,000 $76,188 SAFE Funded RegCF
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Add to portfolio
Bright Trip on Republic 2023
Platform: Republic
Security Type: SAFE
Valuation: $25,000,000

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Follow Bright Trip on Republic 2023

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