CrossNet
About this raise: CrossNet, with a valuation of $15 million, is raising funds on Wefunder. It is a fast-growing backyard game that works as a four-square volleyball game. The game has over 100,000 active players and is played in more than 10,000 schools. CrossNet products are also sold internationally in 47 countries and have generated $24 million in sales. The business has a digital-first approach of connecting and engaging with customers and has achieved a 316% revenue growth since 2019. Gregory Meade, Chris Meade, and Michael Delpapa founded CrossNet in September 2017. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.07 million. The campaign proceeds will be used for funding additional inventory in several new SKUs and marketing.
Investment Overview
Invested : $171,872
Deal Terms
Total Commitments ($USD)
- Platform
- Wefunder
- Start Date
- 09/01/2022
- Close Date
- 11/24/2022
$50,000
$1,070,000
$100
SAFE
Seed
RegCF
$12,500,000
$15,000,000
0%
Company & Team
Company
- Year Founded
- 2017
- Industry
- Media, Entertainment & Publishing
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Medium
- Capital Intensity
- Low
Financials
- Revenue -10.1% YoY
- $8,180,488
- Monthly Burn
- $143,833
-
Runway
- 0.9 months
- Gross Margin
- 60%
Upgrade to gain access
-
$12.50 /month
billed annually - Free portfolio tracking, data-driven ratings, AI analysis and reports
- Plan Includes:
- Everything in Free, plus
- Company specific
Kingscrowd ratings and analyst reports
- Deal explorer and side-by-side comparison
- Startup exit and failure tracking
- Startup market filters and historical industry data
- Advanced company search ( with ratings)
- Get Edge Annual
Edge
Ratings 
Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $0
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 11/24/2022 | Wefunder | $15,000,000 | $171,872 | SAFE | Funded | RegCF |