Skillest
About this raise
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.
Investment Overview
Invested $445,923 :
Deal Terms
Company & Team
Company
- Year Founded
- 2018
- Industry
- Education, Training, & Coaching
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- Low
Financials
- Revenue +66% YoY
- $1,965,859
- Monthly Burn
- $41,620
-
Runway
- 24+ months
- Gross Margin
- 10%
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Edge
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.
Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $2,015,000
- VC Backed?
- Yes
Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
---|---|---|---|---|---|---|
04/30/2023 | Wefunder | $15,000,000 | $445,923 | SAFE | Funded | RegCF |