Skillest
The Platform For Remote Golf Coaching
Overview
Raised: $445,923
Rolling Commitments ($USD)
04/30/2023
$3,208
289
2018
Education, Training, & Coaching
EdTech
B2C
Low
Low
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 |
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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.