Fathom Video

Overview

Raised to Date: Raised: $1,286,928

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Wefunder

Start Date

10/18/2022

Close Date

03/14/2023

Min. Goal

$100,000

Max. Goal

$1,235,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    

Valuation Cap

$30,000,000

Discount

0%

Venture Capital Investors:

Character

Soma Capital

Global Founders Capital

Active Capital

Rackhouse.vc

Maven Ventures

Rolling Commitments ($USD)

Status

Funded

Reporting Date

03/22/2023

Days Remaining

Funded

% of Min. Goal

1,287%

% of Max. Goal

104%

Likelihood of Max

Funded

Avg. Daily Raise

$8,755

# of Investors

1,141

Momentum

Funded

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Fathom Video

Year Founded

2020

Industry

Business Services, Software, & Applications

Tech Sector

EnterpriseTech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

South Lake Tahoe, California

Business Type

Growth

Company Website

Fathom Video, with a valuation of $30 million, is raising funds on Wefunder. The company has developed an AI-powered platform to replace manual note-taking with automatic note-taking. The platform enables its users to recall and share important information from their virtual meetings through real-time recording, transcription, and AI-based summarisation. Fathom is the top app in the Zoom App marketplace and reported a 30% month-over-month usage growth in the last six months. Richard White founded Fathom Video in August 2020. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1.07 million. The campaign proceeds will be used for additional engineering hires, additional customer care hires, and customer marketing expenses.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$0	$0
COGS	$0	$0
Tax	$0	$0
Net Income	$-1,951,776	$-481,607

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$2,246,816	$1,148,350
Accounts Receivable	$0	$0
Total Assets	$2,478,162	$1,199,633
Short-Term Debt	$49,182	$50,277
Long-Term Debt	$0	$0
Total Liabilities	$49,182	$50,277

Financials as of: 10/18/2022

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When I came across Fathom’s AI Notetaker, a Zoom app for taking notes during meetings, I immediately installed it. And if you, like me, spend half your work hours on Zoom, you may want to try it yourself.

Fathom’s software records a Zoom call while allowing users to highlight important moments in a call, transcribe calls, generate a call summary, and even sync with a customer relationship management (CRM) tool. Clips can also be synced with Slack in real time. For example, if an investor had a question about how your startup’s technology works, you could send a clip of the question directly to your engineering team’s Slack channel, all while staying on the call.

I am a big fan of this product. But there is a difference between being a fan of a product and thinking that the company would make a strong addition to an investment portfolio. The product is fantastic, and in a lot of ways, the company is poised for success. But, as always, there are risks and concerns to note as a potential investor.

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