Strengths (2020)

Strengths (2020)

About this raise

Strengths, with a pre-money valuation of $16 million, is raising funds on StartEngine. The AI-powered Coaching and SmartAudio platforms of Soar, presented by Strengths, connect people with the right individuals and information to develop through life. The Strengths platforms assist people in improving their wellbeing, discovering innate talents, finding their purpose in life, strengthening the relationships, and increasing their motivation. Strengths was founded by Paul Allen and Clint Carlos in 2017. The proceeds of the current crowdfunding campaign, with a minimum raise of $9,999.75 and a maximum raise of $267,889.50, will be used to develop new tools and platforms. Strengths reported sales bookings of $930,000 in 2019 from its pilot customers and expects to generate $3.5 million in sales in 2020.

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Investment Overview

Invested this round: $267,164

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
06/25/2020
Close Date
10/19/2020
Min. Goal
$10,000
Max Goal
$267,890
Min. Investment

$499

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.75

Pre-Money Valuation

$16,000,000

Company & Team

Company

Year Founded
2017
Industry
Education, Training, & Coaching
Tech Sector
MarketplaceTech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
High
Location
Provo, Utah
Business Type
Growth
Company Website
Visit Website

Team

Employees
15
Founder Name
Paul B Allen
Title
CEO
Founder Name
Clint Carlos
Title
Co-Founder

Financials

 Revenue +454% YoY
$490,404
 Monthly Burn
$182,014
 Runway
0.3 months
 Gross Margin
45%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$490,404

$107,966

COGS

$267,295

$42,992

Tax

$0

$0

 

 

Net Income

$-2,184,164

$-1,513,255

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$49,739

$61,377

Accounts Receivable

$9,650

$0

Total Assets

$224,106

$153,491

Short-Term Debt

$988,968

$494,143

Long-Term Debt

$0

$0

Total Liabilities

$988,968

$494,143

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Company Funding & Growth

Funding history

Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Strengths 10/19/2020 StartEngine $16,000,000 $267,164 Equity - Common Funded RegCF
Soar.com 04/24/2020 Wefunder $15,600,000 $331,708 Equity - Common Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Strengths on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $16,000,000
Price per Share: $0.75

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