RimRiser
Early Stage
Revolutionizing manholes, storm drains and utility vaults
Overview
Raised: $100,157
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/05/2022
Close Date
04/30/2023
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
Equity - Preferred
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.50
Pre-Money Valuation
$9,055,100
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$486
# of Investors
72
Momentum
Funded
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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: 10/05/2022
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