Prismatext

Early Stage

A fun and effortless language-learning platform

Overview

Raised to Date: Raised: $42,450

Total Commitments ($USD)

Platform

Republic

Start Date

11/29/2022

Close Date

02/27/2023

Min. Goal

$25,000

Max. Goal

$1,235,000

Min. Investment

$150

Security Type

SAFE

Series

Pre-Seed

Funding Type

RegCF

Valuation Cap

$6,000,000

Discount Rate

0%

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/02/2023

Days Remaining

25

% of Min. Goal

170%

% of Max. Goal

3%

Likelihood of Max
unlikely
Avg. Daily Raise

$653

# of Investors

51

Momentum
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Location

Anchorage, Alaska

Industry

Education, Training, & Coaching

Tech Sector

EdTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Business Type

Growth

Prismatext, with a valuation of $6 million, is raising funds on Republic. The company has developed a research-backed language learning platform. The platform combines useful foreign-language words and phrases into books and leads to easy and contextual language acquisition. Prismatext has over 100 books in 16 languages and has signed five publisher partnerships. Zak Erving and Phillip Belleau founded Prismatext in March 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for hiring engineers for product development, expansion of user acquisition channels, and marketing.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$59,202

$25,785

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-103,481

$-4,333

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$2,553

$2,724

Accounts Receivable

$0

$0

Total Assets

$2,553

$2,724

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 11/29/2022
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Prismatext on Republic 2022
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Platform: Republic
Security Type: SAFE
Valuation: $6,000,000

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