System2
Early Stage
Turning fitness creators into BIG subscription businesses
Overview
Raised: $114,500
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/02/2022
Close Date
12/28/2022
Min. Goal
$50,000
Max. Goal
$750,000
Min. Investment
$100
Security Type
SAFE
SEC Filing Type
RegCF
Valuation Cap
$15,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/31/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,331
# of Investors
11
Momentum
Funded
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Year Founded
2018
Industry
Fitness & Wellness
Tech Sector
HealthTech
Location
San Francisco, California
System2, with a valuation of $15 million, is raising funds on Wefunder. The company has developed a platform to bring fitness and wellness coaching to people and turn fitness creators into big subscription businesses. The single and intuitive platform of System2 provides fitness creators access to every essential business tool to build and nurture their business. System2 is led by an experienced team and has reported a 50-70% growth in month-over-month sales. Dilan Dane and Yuran Lu founded System2 in January 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $750,000. The campaign proceeds will be used for hiring, marketing, and expanding the engineering team.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$19,251 |
$32,844 |
|
COGS |
$3,093 |
$34,783 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-207,766 |
$-1,232,367 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$47,709 |
$309,808 |
|
Accounts Receivable |
$99 |
$1,104 |
|
Total Assets |
$523,454 |
$725,176 |
|
Short-Term Debt |
$45,960 |
$39,916 |
|
Long-Term Debt |
$3,085,000 |
$3,085,000 |
|
Total Liabilities |
$3,130,960 |
$3,124,916 |
Financials as of: 10/02/2022
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