Hexact

Hexact

Closed: Apr. 2023

About this raise

Hexact, with a valuation of $10.77 million, is raising funds on StartEngine. The company has developed workflow automation software to automate tedious and repetitive tasks. The platform enables businesses to automate time-consuming processes, including sales, marketing, and research tasks, with its readymade workflows. Hexact has doubled its year-over-year revenue for three consecutive years and reached $1 million in annual revenue in 2022. Stepan Aslanyan, Christopher Closset, Vahe Sargsyan, and Armen Avakian founded Hexact in February 2019. The current crowdfunding campaign has a minimum target of $9,999.90 and a maximum target of $998,999.85. The campaign proceeds will be used for research and development, company employment, and working capital.

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Investment Overview

Invested this round: $372,613

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
03/02/2023
Close Date
04/30/2023
Min. Goal
$10,000
Max Goal
$999,000
Min. Investment

$248

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.23

Pre-Money Valuation

$10,774,800

Company & Team

Company

Year Founded
2019
Industry
Business Services, Software, & Applications
Tech Sector
AutomationTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Location
Hallandale Beach, Florida
Business Type
Growth
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
Yes
Founder Name
Stepan Aslanyan
Title
CEO, Board Director
Founder Name
Chris Closset
Title
CMO

Financials

 Revenue +66% YoY
$479,684
as of FY2021
 Monthly Burn
$18,695
as of FY2021
 Runway
0.6 months
as of FY2021

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$479,684

$164,209

COGS

$534,651

$126,853

Tax

$0

$0

 

 

Net Income

$-224,339

$-1,949

Summary Balance Sheet

FY 2021 FY 2020

Cash

$10,917

$18,410

Accounts Receivable

$0

$0

Total Assets

$16,017

$18,410

Short-Term Debt

$49,707

$263

Long-Term Debt

$255,000

$32,500

Total Liabilities

$304,707

$32,763

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$335,530
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/30/2023 StartEngine $10,774,800 $372,613 Equity - Common Funded RegCF
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Add to portfolio
Hexact on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Common
Valuation: $10,774,800
Price per Share: $1.23

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Follow Hexact on StartEngine 2023

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

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