MySwimPro (2022)

About this raise

MySwimPro, with a valuation of $20 million, is raising funds on Wefunder. The fitness application offers training experience to beginners and professional swimmers with the help of training plans, video content, personalized workouts, and analytics to measure performance. MySwimPro has over 1.5 million app downloads and has generated over $3 million in subscription revenue. Fares Ksebati, Adam Oxner, and Michael Allon founded MySwimPro in 2015. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $5,000,000. The campaign proceeds will be used for content marketing, product development, marketing, and operational expenses.

Investment Overview

Invested this round: $457,357

Deal Terms
Company & Team

Total Commitments

Platform: Wefunder
Start Date: 11/09/2021
Close Date: 02/28/2022

Min. Goal
$50,000

Max Goal
$5,000,000

Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF

Early Bird Val. Cap

$15,000,000

Valuation Cap

$20,000,000

Discount

25%

Company

Year Founded: 2015
Industry: Fitness & Wellness
Tech Sector: HealthTech
Distribution Model: B2C
Margin: Medium
Capital Intensity: Low
Location: Ann Arbor, Michigan
Business Type: Growth
Company Website: Visit Website

Team

Employees: 5
Prior Founder Exits?: No

Founder Name: Fares Ksebati
Title: CEO

Founder Name: Adam Oxner
Title: CTO

Financials

Revenue -14% YoY: $969,752
Monthly Burn: Profitable
Cash on Hand: $745,378

View Detailed Financials

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$969,752	$1,126,063
COGS	$0	$0
Tax	$25	$1,456


Net Income	$89,842	$143,934

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$745,378	$671,540
Accounts Receivable	$41,447	$46,349
Total Assets	$1,001,842	$819,389
Short-Term Debt	$9,188	$7,928
Long-Term Debt	$746,871	$664,070
Total Liabilities	$756,059	$671,998

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Ratings

Offering Name	Close Date	Platform	Valuation	Total Raised	Security Type	Status	Reg Type
MySwimPro	12/06/2023	Wefunder	$20,000,000	$136,550	SAFE	Funded	RegCF
MySwimPro	02/28/2022	Wefunder	$20,000,000	$457,357	SAFE	Funded	RegCF
MySwimPro	04/03/2019	Wefunder	$10,000,000	$599,276	SAFE	Funded	RegCF
MySwimPro	08/31/2017	Wefunder	$5,000,000	$131,530	SAFE	Funded	RegCF

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Revenue
Valuation
Employees

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

Employee History

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View on Wefunder

SAFE, $20M • Closed

4 Following

Add to Portfolio

7 Invested

Deal Considerations

Key Challenges
- No key challenges found
Other Risks
- No other risks found

MySwimPro (2022)

MySwimPro (2022)

About this raise