MTailor

MTailor

Closed: Sep. 2023

About this raise

MTailor, with a valuation of $30 million, is raising funds on Wefunder. The company has developed an app that helps in 3D scanning, visualization, and sizing for clothes through mobile phones. The app, MeasureUp, uses AI and advanced software algorithms to scan measurement features of customers, create an identical digital clone of their body, and see how the clothing they are buying will fit accurately. MTailor is a profitable e-commerce business with over $5 million in annual revenue. Miles Penn founded MTailor in September 2012. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for technology R&D, sales and marketing, and operational expenses.

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Investment Overview

Invested this round: $2,144,000

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
09/30/2022
Close Date
09/30/2023
Min. Goal
$50,000
Max Goal
$5,000,000
Min. Investment

$100

Security Type

SAFE

Series

Series B

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$27,000,000

Valuation Cap

$33,000,000

Discount

0%

Company & Team

Company

Year Founded
2012
Industry
Consumer Products, Goods & Services
Tech Sector
CommerceTech
Distribution Model
B2B2C
Margin
High
Capital Intensity
Low
Location
San Francisco, California
Business Type
High Growth
Company Website
Visit Website

Team

Employees
40
Prior Founder Exits?
No
Founder Name
Miles Penn
Title
CEO

Financials

as of Fiscal Year 2022
 Revenue -27.1% YoY
$5,108,248
 Monthly Burn
$67,644
 Runway
11.4 months
Gross Margin
58%

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$4,487,782

$5,106,805

COGS

$1,870,069

$1,980,937

Tax

$3,531

$21

 

 

Net Income

$-811,724

$49,188

Summary Balance Sheet

FY 2022 FY 2021

Cash

$772,500

$428,908

Accounts Receivable

$0

$0

Total Assets

$1,828,056

$1,401,626

Short-Term Debt

$1,259,140

$571,864

Long-Term Debt

$1,328,422

$526,628

Total Liabilities

$2,587,562

$1,098,492

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$7,200,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
09/30/2023 Wefunder $33,000,000 $2,144,000 SAFE Funded RegCF
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MTailor on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $33,000,000

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Follow MTailor on Wefunder 2022

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