Modal Living
Modern, modular backyard homes and offices
Analytics
Raised: $383,311
Aggregate Commitments $
Platform
StartEngine
Start Date
10/26/2021
Close Date
04/26/2022
Min. Goal
$9,995
Max. Goal
$4,014,513
Min. Investment
$251
Security Type
Equity - Common
Funding Type
RegCF
Series
Seed
Price Per Share
$8.35
Pre-Money Valuation
$15,030,493
Rolling Commitments $
Status
Funded
Reporting Date
05/01/2022
Days Remaining
Funded
% of Min. Goal
3,835%
% of Max. Goal
10%
Likelihood of Max
Funded
Avg. Daily Raise
$2,106
Momentum
Funded
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Location
Salt Lake City, Utah
Industry
Real Estate & Construction
Tech Sector
Proptech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Modal Living, with a valuation of $15 million, is raising funds on StartEngine. The company designs, builds, and installs modern and modular backyard homes and offices. The backyard homes and offices help owners maximize space and create more passive income. Modal Living reported a 1,200% growth in revenue from 2019 to 2020 and has signed contracts worth $6.5 million to date. Colin Jube and Dallin Jolley founded Modal Living in January 2019. The current crowdfunding campaign has a minimum target of $9,994.95 and a maximum target of $4,014,513. The campaign proceeds will be used to invest in sales, marketing, and product development.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,465,042 |
$111,567 |
|
COGS |
$2,019,701 |
$132,977 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-2,859,850 |
$-1,706,622 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$774,369 |
$88,229 |
|
Accounts Receivable |
$15,780 |
$0 |
|
Total Assets |
$774,369 |
$101,576 |
|
Short-Term Debt |
$2,715,114 |
$1,708,198 |
|
Long-Term Debt |
$2,523,441 |
$0 |
|
Total Liabilities |
$5,238,555 |
$1,708,198 |
Financials as of: 10/26/2021
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