Prismatext
Early Stage
A fun and effortless language-learning platform
Overview
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
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
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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