Mylance

Mylance

Closed: Jan. 2022

About this raise

Mylance, with a valuation cap of $10 million, is raising crowdfunding on Wefunder. The company is developing a platform for freelancers to market themselves, support the community, and grow. The platform aims to offer lead generation and back-office admin to freelancers and streamline their operations. Bradley Jacobs founded Mylance in January 2020. The proceeds of the current crowdfunding round, with a minimum goal of $50,000 and a maximum goal of $250,000, will be used towards development, marketing, non-dev headcount, and legal expenses. Mylance reported a 695% growth in revenue from the first half of 2021 to the second half of 2021.

Expand

Investment Overview

Invested this round: $84,578

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
05/27/2021
Close Date
01/13/2022
Min. Goal
$50,000
Max Goal
$250,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$10,000,000

Discount

20%

Company & Team

Company

Year Founded
2020
Industry
Business Services, Software, & Applications
Tech Sector
MarketplaceTech
Distribution Model
B2B
Margin
High
Capital Intensity
Low
Location
Houston, Texas
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Bradley Jacobs
Title
CEO
Founder Name
Parker Wilf
Title
Co-founder

Financials

 Revenue
$55,153
 Monthly Burn
$1,348
 Runway
24+ months
Gross Margin
84%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$55,153

$0

COGS

$8,792

$0

Tax

$450

$0

 

 

Net Income

$-16,172

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$60,594

$0

Accounts Receivable

$460

$0

Total Assets

$61,059

$0

Short-Term Debt

$72,237

$0

Long-Term Debt

$0

$0

Total Liabilities

$72,237

$0

Create a free account today to gain access to Kingscrowd analytics and financials.

Upgrade to gain access

Pay Monthly
Annually (2 months free)

Edge

$12.50 /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.

Ratings Kingscrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars

Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
01/13/2022 Wefunder $10,000,000 $84,578 SAFE Funded RegCF
Create a free account today to gain access to Kingscrowd analytics.
Founders: enhance your startup's credibility on Kingscrowd. Create an account to claim this raise page.
Add to portfolio
Mylance on Wefunder 2021
Platform: Wefunder
Security Type: SAFE
Valuation: $10,000,000

Follow company

Follow Mylance on Wefunder 2021

Buy Mylance's Deal Report

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

Mylance Deal Report

Get Kingscrowd's comprehensive report on Mylance including:

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

Buy the Mylance deal report for only $10!

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