About this raise

Drink Monday, with a valuation of $23.03 million, is raising funds on StartEngine. The company makes non-alcoholic cocktails that give the look, feel, and taste of adult beverages. The healthy and tasty beverages of Drink Monday work great for health-conscious consumers without putting tomorrow at risk. Drink Monday has generated $9 million in lifetime sales and has been featured in Forbes, Vogue, and HuffPost. Chris Boyd, Ben Acott, Marcelo Kertesz, Ryan Mulvany, Tonya Wearner, and Brad Seipp founded Drink Monday in June 2019. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.5 million. The campaign proceeds will be used for sales and marketing, personnel, research and development, inventory, and working capital.

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Investment Overview

Invested this round: $381,073

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
04/12/2023
Close Date
08/29/2023
Min. Goal
$15,000
Max Goal
$1,499,998
Min. Investment

$251

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.66

Pre-Money Valuation

$23,027,288

Company & Team

Company

Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Location
Carisbad, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
Yes
Founder Name
Ben Acott
Title
CMO
Founder Name
Bradley Seipp
Title
Member of Board of Directors
Founder Name
Chris Boyd
Title
CEO
Founder Name
Marcelo Kertesz
Title
Chief Creative
Founder Name
Ryan Mulvany
Title
Amazon Channel Lead
Founder Name
Tonya Wearner
Title
Advisor

Financials

as of Fiscal Year 2022
 Revenue +115% YoY
$3,473,326
 Monthly Burn
$77,397
 Runway
5.7 months
Gross Margin
40%

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$3,724,908

$3,473,326

COGS

$2,243,991

$2,129,443

Tax

$0

$0

 

 

Net Income

$-928,759

$-1,024,487

Summary Balance Sheet

FY 2022 FY 2021

Cash

$438,202

$480,430

Accounts Receivable

$4,129

$26,199

Total Assets

$1,502,967

$1,528,604

Short-Term Debt

$168,804

$524,509

Long-Term Debt

$814,173

$0

Total Liabilities

$982,977

$524,509

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$2,517,099
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
08/29/2023 StartEngine $23,027,288 $381,073 Equity - Preferred Funded RegCF
06/28/2022 SeedInvest $24,500,000 $426,089 Equity - Preferred Funded RegCF / RegD 506(c)
04/08/2022 SeedInvest $24,500,000 $0 Equity - Preferred Not Funded RegCF / RegD 506(c)
04/16/2021 Republic $7,000,000 $856,423 SAFE Funded 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

Company Updates

Drink Monday is a non-alcoholic spirit startup selling gin, whiskey, and mezcal alternatives. The company was a Deal to Watch during its SeedInvest raise from January to April 2022 thanks to its 2022 revenue of $3.4 million and its positioning in the rapidly growing non-alcoholic beverage market.

The company made a radical pivot in its business model since its last raise. That led to founder Chris Boyd stepping down as CEO to be replaced by somebody more in line with the startup’s new strategy, Ken Young. Before joining Drink Monday, Ken ran a consulting company that supported companies in the consumer packaged good space. 

I had a call with Ken to better understand the company’s recent changes and his vision for the startup. And I even got to taste the company’s three drinks. 

View Company Update

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Add to portfolio
Drink Monday on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $23,027,288
Price per Share: $1.66

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