Early Stage

Unlock the power of 1st-party data for the next generation of DTC eCommerce

Unlock the power of 1st-party data for the next generation of DTC eCommerce


Raised to Date:
$88,700 - RegCF
$258,700 - Total

Total Commitments ($USD)



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RegCF / RegD 506(c)    Open SEC Filing

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Year Founded



Marketing & Advertising

Tech Sector


Distribution Model




Capital Intensity



DENVER, Colorado

Business Type

High Growth

Fueled, with a valuation of $6.25 million, is raising funds on Wefunder. It is a composable first-party data platform revolutionizing e-commerce analytics and ad targeting. The platform helps e-commerce merchants get more online engagement with their customers, and the data captured is analyzed and activated for marketing campaigns. Fueled is currently used by 1,500 e-commerce brands in 78 countries and is tracking more than $75 million in monthly purchase events. Sean Larkin founded Fueled in July 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for product development, marketing, and sales.

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Financials as of: 07/14/2023
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Analyst Report



Online shopping has become a staple in many people's lives, especially with the rise of e-commerce giants like Amazon and Alibaba. But with the increase in online shopping comes the need for more effective and personalized marketing strategies. This is where Fueled comes in.

Fueled is a first-party data platform designed specifically for e-commerce. It helps online merchants capture and analyze customer engagement data, which can be used for targeted marketing campaigns. With this platform, e-commerce businesses can better understand their customers and tailor their marketing efforts to meet individual needs and preferences.

Since its launch, Fueled has been adopted by over 1,700 e-commerce brands across 78 countries and is currently tracking more than $75 million in monthly purchase events. This wide usage and the volume of data being processed highlight the platform's effectiveness and potential for revolutionizing e-commerce analytics and ad targeting.

The current crowdfunding campaign on Wefunder, with a valuation cap of $6.25 million, aims to raise funds for product development, marketing, and sales.

Next Section: Price


Fueled is raising funds on Wefunder at a valuation of $6.25 million. This valuation seems reasonable considering the company's early traction and growth potential. Fueled has 1,700 e-commerce brands using its platform for free, The company will soon require payments, and despite expecting a churn rate of 30-60%, it hopes to reach profitability in the Fall quarter.

Next Section: Market


Fueled operates in the Customer Data Platform (CDP) market, a sector experiencing significant growth. Specifically tailored to eCommerce, Fueled's platform is designed to help merchants capture, analyze and activate online engagement data for their marketing campaigns. The CDP market in the US alone is estimated to be worth $2 billion. The pandemic drove customers' appetence for e-commerce solutions. Therefore, the market is growing at an impressive rate of 25% annually, reflecting the increasing recognition of the importance of data-driven marketing strategies.

Despite being a competitive market, Fueled's focus on eCommerce may give it a competitive advantage. The company's approach allows for a more tailored service that can better meet the needs of online merchants compared to more generic platforms. However, its success will hinge on its ability to continually innovate and keep up with the evolving needs of eCommerce businesses.

Despite the market's competitive nature, the regulatory environment is relatively low, and there aren't any high licensing or approval regulations to consider. This allows for more flexibility and quicker adaptation to market changes. Given the high market potential and acceptance, Fueled's growth prospects look promising.

Next Section: Team


Fueled was founded by CEO Sean Larkin and CTO Eddie Svirsky. Larkin built and sold a consulting company doing manually what Fueled does automatically. Larkin built Fueled to bring his expertise and solution to smaller e-commerce stores, a rather untapped niche. He is responsible for the overall vision and strategy of Fueled. Svirsky, on the other hand, has a strong technical background and has previously raised $8 million for his previous companies. He oversees the technical development and implementation of Fueled's platform.

Next Section: Differentiation


Fueled operates in the highly competitive marketing and advertising industry, specifically targeting the customer data platform (CDP) market for e-commerce. Fueled competes with established solutions such as Commerce Layer, Bloomreach, Netlify, and Alumio. It also competes with companies like Little Data or Elevar, which offer solutions to transmit e-commerce store data into Google Analytics or social media platforms for marketing purposes. Fueled also competes with companies like Triple Whale and North Bean, which provide e-commerce stores with data warehouses and analytics.

Fueled also competes with Segment.io, one of the leaders in first-party data analytics. Segment.io focuses on enterprises, while Fueled focuses on small Shopify and Big Commerce e-stores. But some small e-commerce platforms may choose to use Segment.io's solution over Fueled. That's why Fueled also offers a solution at $500 a month to integrate Segment.io into Shopify. This solution is cheaper than consulting services, costing around $50,000, to do the integration manually. However, investors should know that Segment.io collaborates with little Data to integrate its service into Shopify. Based on the store size, Little Data can be cheaper and more expensive than Fueled to integrate Segment.io. In any case, Little Data's partnership with Segment.io gives it an advantage over Fueled.

Despite the competitive nature of the industry, Fueled has the potential for high growth, given its business type and distribution model. It faces large and established competitors. While its solution integrates data pipelines from e-commerce stores to Google Analytics and social media, data warehouse and data analytics is a rare combination in the market, and the company's solution is more a nice-to-have than a must-have. Fueled is ideal for tiny or average size e-commerce platforms. Small and large stores would have a financial advantage using Fueled's competition.

Next Section: Performance


Fueled has gained traction, with 1,500 e-commerce brands in 78 countries currently using the platform. These brands collectively track over $75 million in monthly purchase events, indicating Fueled's product-market-fit. The company partners with several agencies that automatically install Fueled on new Shopify e-commerce stores. These agencies do not charge Fueled to install it to their clients, providing Fueled with an easy sales channel.

Fueled will soon request its users to pay to use its services. Investors should expect at least a churn rate of 30-60%. While most of the company's customers will surely sign up for its $25/month plan rather than its higher $400-$ 1,000-month plans, the company's CEO expects to reach profitability by the Fall. Fueled's founder expects to generate $8,000-$10,000 monthly revenue after turning on paid subscriptions.

Overall, Fueled has demonstrated promising early-stage performance with its innovative data platform for e-commerce analytics. However, further financial information and progress updates are necessary to comprehensively assess the company's performance and future prospects.

Next Section: Risk


Investing in Fueled comes with a major competitive risk that should be considered. The market for customer data platforms in the e-commerce industry is extremely competitive, with direct competitors such as Little Data, Tripple Whale, Segment.io, Commerce Layer, Bloomreach, Netlify, and Alumio. Fueled's differentiation is rather small. The company must demonstrate its value proposition to gain market share and remain competitive. Additionally, the barriers to entry in this market are relatively low, which means that new players could enter and disrupt the industry. This could pose a risk to Fueled's market position and revenue growth.

Next Section: Bullish Outlook

Bullish Outlook

Fueled has demonstrated significant traction among e-commerce brands, with its platform currently utilized by 1,700 brands across 78 countries. This widespread adoption is an encouraging indicator of the company's ability to meet a pressing need in the market. The platform's ability to track more than $75 million in monthly purchase events signals the vast and valuable data pool it has access to, which can unlock enhanced analytics and ad targeting capabilities for its users. Fueled's founder and CEO, Sean Larkin, believes the company can reach profitability in the Fall quarter.

Moreover, Fueled operates in a high-potential market. The growing focus on e-commerce and data-driven decision-making underscores the need for robust first-party data platforms like Fueled. As more businesses pivot towards online channels, the demand for sophisticated data analytics tools will likely grow.

Finally, Fueled's fundraising effort on Wefunder, which aims to bolster product development, marketing, and sales, will further strengthen its positioning and competitiveness in the market. The infusion of capital can accelerate the company's growth trajectory and help it seize the vast opportunities in the e-commerce analytics and ad targeting landscape.

Next Section: Bearish Outlook

Bearish Outlook

While Fueled has shown potential in the number of e-commerce brands using its platform, several concerns may arise for potential investors. Firstly, Fueled operates in an extremely competitive market with significant players such as Little Data, Triple Whale, and Segment.io. These competitors already have established customer bases and financial backing, which could make it challenging for Fueled to gain significant market share. Its clients could perceive the differentiation between Fueled and its competitors as small.

Next Section: Executive Summary

Executive Summary

Fueled is an innovative first-party data platform designed specifically for e-commerce businesses. The platform helps e-commerce merchants capture online customer engagement, analyze the data, and activate this data for marketing campaigns. Fueled is currently used by 1,700 e-commerce brands in 78 countries, tracking more than $75 million in monthly purchase events. Fueled will request its users to start paying in a few weeks. The company's founder, Sean Larkin, estimates that the company could become profitable in the Fall.

However, Fueled operates in an extremely competitive market, with major competitors including Little Data, Triple Whale, and Segment.io. The company's ability to position itself away from competitors and continue gaining market share will be crucial for its success. Despite the competition, the market potential for Fueled's services is high, given the growing reliance on e-commerce and the increasing importance of data analytics in marketing.

Overall, Fueled's innovative platform, market traction, and growth potential make it an intriguing investment opportunity. However, potential investors should closely consider the company's competitive landscape, financial performance, and growth strategy.


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Fueled on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $6,250,000

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