Skillest

Skillest

Growth Stage

The Platform For Remote Golf Coaching

The Platform For Remote Golf Coaching

Overview

Raised to Date: Raised: $445,923

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/11/2022

Close Date

04/30/2023

Min. Goal
$100,000
Max. Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$15,000,000

Discount

10%

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

$3,208

# of Investors

289

Momentum
Funded
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Year Founded

2018

Industry

Education, Training, & Coaching

Tech Sector

EdTech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

San Francisco, California

Business Type

Growth

Skillest, with a valuation of $15 million, is raising funds on Wefunder. The company has developed a platform for remote golf coaching with video analytic tools, live zoom lessons, and real-time messaging. The platform has extensive domain expertise with six years of experience in space-building tools for coaches and is renowned for best coaches with millions of followers. Skillest is led by leading PGA professionals and has a loyal customer base with $2 million in lessons purchased in 2021. Brian Park, Baden Schaff, and Alan Gao founded Skillest in August 2018. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing, salaries, and compensation for contractors.

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$1,965,859

$1,181,360

COGS

$1,775,223

$1,070,996

Tax

$0

$0

 

 

Net Income

$-499,441

$-133,954

Summary Balance Sheet

FY 2021 FY 2020

Cash

$1,427,973

$66,605

Accounts Receivable

$0

$0

Total Assets

$1,431,930

$67,701

Short-Term Debt

$142,738

$97,069

Long-Term Debt

$0

$50,000

Total Liabilities

$142,738

$147,069

Financials as of: 12/11/2022
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Analyst Report Analyst Report Methodology Article

Golf is an incredibly technical sport that requires expensive lessons and equipment to improve. (If you want proof that pure “athleticism” won’t make you good at golf, here is NBA great Charles Barkley’s swing.)

Despite the difficulty of the game, golf’s popularity is skyrocketing. In 2020, the number of golfers in the U.S. grew by 2% — the largest increase in 17 years. And by the end of 2020, there was a 14% increase in rounds recorded, the highest gain since 1997. 

Golf has also attracted a whole new demographic of players, particularly Gen Z. A recent study showed that Gen Z and younger millennials make up 27% of new golfers every year. The generation that grew up with smartphones and social media are picking up golf in droves.

Capitalizing on this shift is Skillest, a remote golf-coaching app with hundreds of qualified coaches providing high-quality video lessons.

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Skillest on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $15,000,000

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