Relay On Demand

Growth Stage

A new and better way to book truck drivers on demand

Overview

Raised to Date: Raised: $206,001

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

Rolling Commitments ($USD)

Status
Funded
Reporting Date

03/26/2023

Days Remaining
Funded
% of Min. Goal

412%

% of Max. Goal

39%

Likelihood of Max
Funded
Avg. Daily Raise

$1,025

# of Investors

196

Momentum
Funded
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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

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.

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

Financials as of: 08/26/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Relay On Demand 03/15/2023 Wefunder $30,000,000 $206,001 Equity - Preferred Funded RegCF
Relay On Demand 04/21/2021 Republic $8,000,000 $496,212 SAFE Funded RegCF
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Ratings KingsCrowd Startup Rating Methodology Article

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

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Relay on Demand on Wefunder 2022
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $30,000,000

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