Hercules Mulligan (2023)
About this raise
Hercules Mulligan, with a valuation of $17.51 million, is raising funds on StartEngine. The company makes ready-to-drink cocktails using high-quality spirits. The cocktail is a blend of three rums, three rye whiskies, fresh organic ginger, and tailor-made bitters. Hercules Mulligan allows consumers to enjoy a first-class bar-grade cocktail at home with no inconvenience. The business has sold over 40,000 bottles and has grown its sales by 85% year-over-year in 2022. Steve Luttmann founded Hercules Mulligan in August 2019. The current crowdfunding campaign has a minimum target of $9,999.60 and a maximum target of $1 million. The campaign proceeds will be used for marketing, working capital, and general and administrative expenses.
Investment Overview
Invested : $642,574
Deal Terms
Total Commitments
- Platform
- StartEngine
- Start Date
- 04/05/2023
- Close Date
- 08/20/2023
$10,000
$1,000,001
$103
Equity - Common
Series A
RegCF
$3.12
$17,507,877
Company & Team
Company
- Year Founded
- 2019
- Industry
- Alcohol, Tobacco, & Recreational Drugs
- Tech Sector
- Distribution Model
- B2B2C
- Margin
- Medium
- Capital Intensity
- High
Financials
- Revenue +69% YoY
- $135,000
- Monthly Burn
- $109,576
-
Runway
- 3.5 months
- Gross Margin
- 45%
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $2,638,891
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 11/18/2024 | StartEngine | $17,022,530 | $142,565 | Equity - Common | Funded | RegCF |
| 08/20/2023 | StartEngine | $17,507,877 | $642,574 | Equity - Common | Funded | RegCF |
| 09/06/2022 | StartEngine | $15,031,159 | $524,497 | Equity - Common | Funded | RegCF |
| 03/22/2022 | StartEngine | $9,000,000 | $749,878 | Equity - Common | Funded | RegCF |
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.