Hidrent (2021)
About this raise
Hidrent, with a valuation cap of $3 million, is raising crowdfunding on Republic. The company provides on-demand labor service through off-duty firefighters. The highly trusted off-duty firefighters offer services, including repairs, maintenance, and assembly. Hidrent was founded by Dave Heimbuch in May 2019. The proceeds of the current crowdfunding round, with a minimum raise of $25,000 and a maximum raise of $490,000, will be used to develop a web application, improve its product features, expand into new markets, launch an affiliate program, and optimize the process to grow its B2B channel. Hidrent reported a 233% increase in revenue from Q1 2020 to Q2 2020, with the onset of COVID-19. The app has over 36,000 downloads and has completed 1,600 jobs.
Investment Overview
Invested : $100,098
Deal Terms
Total Commitments
- Platform
- Republic
- Start Date
- 07/15/2020
- Close Date
- 01/29/2021
$25,000
$490,000
$100
SAFE
Early Stage
RegCF
$3,000,000
20%
Company & Team
Company
- Year Founded
- 2019
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- C2C
- Margin
- High
- Capital Intensity
- Low
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Company Funding & Growth
Funding history
| Offering Name | Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Hidrent | 10/19/2022 | StartEngine | $8,500,000 | $148,491 | Equity - Preferred | Funded | RegCF |
| Hidrent | 01/29/2021 | Republic | $3,000,000 | $100,098 | SAFE | Funded | RegCF |
| Hidrent | 08/19/2019 | Microventures | $3,500,000 | $39,152 | Convertible Note | 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.