Modtempo

Modtempo

A customer-experience focused furniture shop

A customer-experience focused furniture shop

Overview

Raised to Date: Raised: $5,900

Total Commitments ($USD)

Platform

Honeycomb

Start Date

04/29/2020

Close Date

06/14/2020

Min. Goal
$15,000
Max. Goal
$43,500
Min. Investment

$100

Security Type

Debt

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

06/29/2020

Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise

$128

# of Investors

3

Momentum
Not Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded

2013

Industry

Consumer Products, Goods & Services

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Location

Cleveland, Ohio

Business Type

Life Style

Modtempo, a furniture shop in Cleveland, OH, is raising funds on Honeycomb. The company provides furniture solutions focused on the customer experience and handles every aspect of the designing, buying, and the delivery process. Modtempo is creating its own lines of furniture with designer Kevin Busta and is partnering with John Schneider for sourcing. Modtempo was founded by David Reamensnyder in 2013. The proceeds of the current round of crowdfunding, with a minimum goal of $15,000 and a maximum goal of $43,500, will be used for growth and expansion. Modtempo has moved from one sale in year one to 1,100 orders by year three and has designed furniture for fashion designers, movie stars, and other celebrities. The company also has an augmented reality app for customers to try the furniture in their homes through their cell phones.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$81,799

$220,790

COGS

$32,748

$241,332

Tax

$0

$0

 

 

Net Income

$12,848

$-166,405

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$3,372

$1,775

Accounts Receivable

$0

$0

Total Assets

$1,236,731

$1,775

Short-Term Debt

$34,097

$8,790

Long-Term Debt

$1,214,499

$33,048

Total Liabilities

$1,248,596

$41,838

Financials as of: 04/29/2020
Create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.

Create your first portfolio

Create your own startup investment portfolio on KingsCrowd.

Track all of your startup investments in one place using our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
Modtempo on Honeycomb
Platform: Honeycomb
Security Type: Debt

Follow company

Follow Modtempo on Honeycomb

Buy Modtempo's Deal Report

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

Modtempo Deal Report

Get KingsCrowd’s comprehensive report on Modtempo including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Modtempo is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the Modtempo deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge