FirmTech

FirmTech

[Closed for Investment] FirmTech, with a valuation of $15.9 million, is raising funds on Wefunder. The company makes products aimed at better sex and better health of individuals. The products empower people of all genders to assess their sexual health, overall health, medications, and habits, heightening their sexual performance and pleasure. The innovative sex toy of FirmTech, the Erectile Ring, helps to increase pleasure and performance and also aids with heart disease and erectile dysfunction. Dr. Elliott Justin founded FirmTech in September 2020. The current crowdfunding campaign has a minimum target of $50,400 and a maximum target of $1.23 million. The campaign proceeds will be used for marketing, personnel costs, research and development, and engineering costs.

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Investment Overview

Raised this Round: Raised: $78,300

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
06/22/2023
Close Date
04/29/2024
Min. Goal
$50,400
Max. Goal
$1,234,800
Min. Investment

$3,600

Security Type

Equity - Common

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$3,600.00

Pre-Money Valuation

$15,966,000

Company & Team

Company

Year Founded
2020
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
BOZEMAN, Montana
Business Type
Growth
Company Website
Visit Website

Team

Employees
2
Prior Founder Exits?
Yes
Founder Name
Elliot Justin
Title
CEO

Financials

as of Fiscal Year 2022
 Revenue
$78,202
 Monthly Burn
$121,691
 Runway
0.9 months
Gross Margin
77%

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$78,202

$0

COGS

$18,231

$0

Tax

$0

$0

 

 

Net Income

$-1,460,288

$-951,643

Summary Balance Sheet

FY 2022 FY 2021

Cash

$112,627

$220,200

Accounts Receivable

$0

$0

Total Assets

$335,168

$454,992

Short-Term Debt

$153,344

$24,880

Long-Term Debt

$145,000

$145,000

Total Liabilities

$298,344

$169,880

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$2,500,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/29/2024 Wefunder $15,966,000 $78,300 Equity - Common Funded RegCF
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Add to portfolio
FirmTech on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Common
Valuation: $15,966,000
Price per Share: $3.00

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

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