OpenGrants
Early Stage
A grant search engine and marketplace of independent grant consultants
Analytics
Raised: $108,651
Aggregate Commitments $
Platform
Wefunder
Start Date
01/07/2022
Close Date
04/30/2022
Min. Goal
$50,000
Max. Goal
$750,000
Min. Investment
$100
Security Type
SAFE
Funding Type
RegCF
Series
Seed
Valuation Cap
$7,000,000
Discount Rate
20%
Rolling Commitments $
Status
Active
Reporting Date
01/19/2022
Days Remaining
101
% of Min. Goal
217%
% of Max. Goal
14%
Likelihood of Max
Avg. Daily Raise
$9,054
Momentum
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Location
Folsom, California
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
High
OpenGrants, with a valuation of $7 million, is raising funds on Wefunder. It is a grant search engine that makes grant funding efficient, equitable, and accessible. The grant search engine is a comprehensive database of public and private grant funding with features including team collaboration, custom query search, confidence scores, and recommended grants. OpenGrants generated a revenue of $189,000 in 2021 with a 29% month-over-month user growth. Sedale Turbovsky, Hunter Petersen, Pachia Cha, and Cody Hanson founded OpenGrants in September 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $750,000. The campaign proceeds will be used for marketing, hiring additional developers, and outsourcing talent.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$60,095 |
$5,677 |
|
COGS |
$22,489 |
$148 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-459,881 |
$-102,858 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$6,820 |
$10,370 |
|
Accounts Receivable |
$29,971 |
$21 |
|
Total Assets |
$52,699 |
$11,490 |
|
Short-Term Debt |
$35,991 |
$64,901 |
|
Long-Term Debt |
$530,000 |
$0 |
|
Total Liabilities |
$565,991 |
$64,901 |
Financials as of: 01/07/2022
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