Relay On Demand

Relay On Demand

[Closed for Investment] Relay On Demand, with a valuation of $30 million, is raising funds on Wefunder. The company has developed an app that helps to book truck drivers on demand. It has created a flexible driver workforce with its Relay Drivershare Network that trucking companies can utilize to hire truck drivers on demand. Relay On Demand has more than 10,000 app downloads and has generated $6 million in sales to date. Darrell Pickens founded Relay On Demand in April 2018. The current crowdfunding campaign has a minimum target of $50,003 and a maximum target of $534,998. The campaign proceeds will be used for marketing, hiring, and technology development.

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Investment Overview

Raised this Round: Raised: $205,801

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
08/26/2022
Close Date
03/15/2023
Min. Goal
$50,003
Max. Goal
$534,998
Min. Investment

$100

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$5.00

Early Bird Valuation

$25,980,000

Pre-Money Valuation

$30,000,000

Company & Team

Company

Year Founded
2018
Industry
Logistics, Delivery, & Supply Chain
Tech Sector
MarketplaceTech
Distribution Model
B2B
Margin
Low
Capital Intensity
Low
Location
Norco, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
6
Prior Founder Exits?
No
Founder Name
Darrell Pickens
Title
President

Financials

 Revenue +197% YoY
$3,102,370
 Monthly Burn
$31,070
 Runway
3.6 months
Gross Margin
12%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$3,102,370

$1,045,832

COGS

$2,735,501

$955,298

Tax

$850

$850

 

 

Net Income

$-372,834

$-186,131

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$112,064

$46,080

Accounts Receivable

$49,997

$0

Total Assets

$162,062

$46,080

Short-Term Debt

$20,685

$30,888

Long-Term Debt

$358,746

$328,198

Total Liabilities

$379,431

$359,086

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Ratings Kingscrowd Startup Rating Methodology Article

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Analyst Report Analyst Report Methodology Article

There has been an ongoing nationwide truck driver shortage. That shortage peaked in 2021, reaching as high as 81,258. But according to the American Trucking Association, the problem has persisted ever since the late 1980s. 

This is a huge pain point. Trucks are responsible for more than 70% of domestic cargo shipments. Simply put, the U.S. economy doesn’t work without trucking. 

If a recession arrives this year as many expect, the industry could see a rare balance of driver supply and demand. But it won’t last. And with the economy projected to recover beginning next year, truck drivers will once again be in short supply.

This is a big problem for the country, the economy, and for trucking companies (also known as “carriers”). No single company can solve it. The issue is going to be with us for quite a while. But at least one company is tackling it in a way that makes life easier for both drivers and carriers. That company is Relay on Demand

Company Funding & Growth

Funding history

Total Prior Capital Raised
$1,056,202
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/15/2023 Wefunder $30,000,000 $205,801 Equity - Preferred Funded RegCF
04/21/2021 Republic $8,000,000 $496,212 SAFE Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Add to portfolio
Relay on Demand on Wefunder 2022
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $30,000,000
Price per Share: $5.00

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

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