Fathom Video

Fathom Video

Growth Stage

Never take notes on a Zoom call again

Never take notes on a Zoom call again

Overview

Raised to Date: Raised: $1,235,028

Total Commitments ($USD)

Platform

Wefunder

Start Date

10/17/2022

Close Date

03/13/2023

Min. Goal
$100,000
Max. Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$30,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

03/30/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$8,402

# of Investors

1,132

Momentum
Funded
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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

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: 10/17/2022
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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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Fathom Video on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $30,000,000

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Warning: according to the close date for this deal, Fathom Video may no longer be accepting investments.

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