OpenGrants

OpenGrants

Closed: Apr. 2022

About this raise

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.

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Investment Overview

Invested this round: $160,551

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
01/07/2022
Close Date
04/12/2022
Min. Goal
$50,000
Max Goal
$750,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$7,000,000

Discount

20%

Company & Team

Company

Year Founded
2018
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
High
Location
Folsom, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
10
Prior Founder Exits?
No
Founder Name
Sedale Turbovsky
Title
CEO
Founder Name
Cody Hanson
Title
COO
Founder Name
Pachia Cha
Title
Lead Developer UX/UI
Founder Name
Hunter Petersen
Title
CTO

Financials

 Revenue
$60,095
 Monthly Burn
$38,323
 Runway
0.2 months
 Gross Margin
63%

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/12/2022 Wefunder $7,000,000 $160,551 SAFE Funded RegCF
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Add to portfolio
OpenGrants on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $7,000,000

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Follow OpenGrants on Wefunder 2022

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