RimRiser

Early Stage
Revolutionizing manholes, storm drains and utility vaults
Overview
Raised: $113,807
Rolling Commitments ($USD)
Status
Active
Reporting Date
03/27/2023
Days Remaining
34
% of Min. Goal
228%
% of Max. Goal
11%
Likelihood of Max
Avg. Daily Raise
$662
# of Investors
65
Momentum
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Year Founded
2019
Industry
Real Estate & Construction
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
High
Capital Intensity
Low
RimRiser, with a valuation of $9 million, is raising funds on Wefunder. The company has created the device to revolutionize manholes, storm drains, and utility vaults. RimRiser saves money and works faster, safer, and more accurately to adjust heavy structures to the exact elevation and slope. RimRiser is a single installer that can turn the screws without lifting and hand-placing shim material. The product is Department of Transportation-approved and has three patents registered and two trademarks issued. Aaron Barr founded RimRiser in April 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.07 million. The campaign proceeds will be used for payroll, debt repayment, marketing, operating expenses, and critical expenses.
Summary Profit and Loss Statement
Most Recent Year | Prior Year | |
---|---|---|
Revenue |
$43,947 |
$126,236 |
COGS |
$32,770 |
$22,960 |
Tax |
$7,397 |
$3,062 |
| ||
| ||
Net Income |
$-738,700 |
$-781,244 |
Summary Balance Sheet
Most Recent Year | Prior Year | |
---|---|---|
Cash |
$13,657 |
$78,865 |
Accounts Receivable |
$1,704 |
$0 |
Total Assets |
$70,627 |
$132,250 |
Short-Term Debt |
$61,537 |
$7,777 |
Long-Term Debt |
$288,415 |
$205,081 |
Total Liabilities |
$349,952 |
$212,858 |
Financials as of: 10/06/2022
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