Pigeonly

Pigeonly

Early Stage

The affordable way to search, find & communicate with an incarcerated loved one.

The affordable way to search, find & communicate with an incarcerated loved one.

Overview

Raised to Date: Raised: $129,147

Total Commitments ($USD)

Platform

Republic

Start Date

02/18/2018

Close Date

03/31/2018

Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$15,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/28/2018

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$3,229

# of Investors

158

Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded

2013

Industry

Consumer Products, Goods & Services

Tech Sector

Location

Las vegas, Nevada

Who Should Be Interested:
Do you have a loved one in prison, and are you frustrated with how hard and expensive it can be to stay in contact? If you said yes, then Pigeonly could be the investment you’ve been waiting for. Their service allows for you to stay in touch, and even send things like pictures, in an easy, simple, and affordable way.

The Company:
Pigeonly is “the leader in providing families with easy to use, low-cost inmate communication services.” Through their platform, users can use their mobile phone, tablet, or computer to search and find inmates, and then send them printed photos, letters, greeting cards, postcards, or even online articles. Pigeonly also provides a low cost VoIP phone solution for prison phone calls, using their proprietary technology Haystac™. So far, they’ve connected over 100,000 prison inmates on their platform; they’ve secured $5M in VC funding from Silicon Valley investors; they have over 10,000 active users; and they support every Federal, State, and County jail in the US, which is over 17,000 facilities. They’ve also saved families over $8MM in phone fees, and they’re earning over $175,000 in monthly revenue, with an expected 50% increase in daily subscribers and revenue for 2018.

The Bottom Line:
Almost 27 million Americans have at least one friend or family member that is currently in a US prison, and that group collectively spends $4B annually in supporting inmates. Pigeonly is disrupting that industry and revolutionizing communication with inmates. They want to make sure you can stay in touch with your loved ones, and they’ll be your metaphorical (and affordable!) carrier pigeon to help out….one letter, photo, and phone call at a time.
Create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /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.

Analyst Report Analyst Report Methodology Article

Summary

One of my favorite things about covering the equity crowdfunding market is that with each passing week the opportunities and selections get stronger and stronger as legitimacy, awareness, and ultimately capital begin to flood the space.

This week, I bring you the first weekly KINGSCROWD deal recommendations. First up, Pigeonly currently raising on Republic.

Next Section: Other

Overview

Pigeonly is in the business of providing low-cost inmate communication services, which turns out is a $4 billion market, with 10% of the US population having at least one friend or family member incarcerated. To date, the services available for communicating with inmates have been wrought with predatory pricing.

With the proprietary Haystac KPI the team has built, Pigeonly can track where over 1M inmates across 17K prison facilities are at any one time, and make it seamless for friends and family to find and connect with them for one low subscription price. The team is on pace to reach over $3M in revenue this year and has over 10K subscribers across 88 countries connecting with over 100K US based inmates.

Some of the biggest names in VC have backed Pigeonly including 500 Startups, Social Capital and Kapor Capital. Interestingly enough, this business was born out of a real life experience for founder Frederick Hutson, who went to prison himself in his early 20’s. From that experience he decided to take his life in a new direction and has proven that second chances can lead to great results. At a $15M valuation, which is 5X the current annual revenue, Pigeonly presents a reasonably priced opportunity with the team estimating $40M in gross revenue over the next 24 months, aka a 3X upside on the current valuation.

Want to learn more about our top deals? Reach out to hello@kingscrowd.com

Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.
Add to portfolio
Pigeonly on Republic
Platform: Republic
Security Type: SAFE
Valuation: $15,000,000

Follow company

Follow Pigeonly on Republic

Buy Pigeonly's Deal Report

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

Pigeonly Deal Report

Get KingsCrowd’s comprehensive report on Pigeonly including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Pigeonly is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise
  • Our deep-dive analyst report reviewing the deal's investment potential and bullish vs. bearish outlook

Buy the Pigeonly deal report for only $10!

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