Tap Systems

Growth Stage

Wearable Keyboard, Mouse & Controller

Overview

Raised to Date: Raised: $2,422,967

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/05/2021

Close Date

11/04/2022

Min. Goal
$200,001
Max. Goal
$4,999,999
Min. Investment

$100

Security Type

Equity - Common

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.00

Early Bird Valuation

$44,862,750

Pre-Money Valuation

$51,271,714

Rolling Commitments ($USD)

Status
Funded
Reporting Date

11/30/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$6,657

# of Investors

2,980

Momentum
Funded
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Year Founded

2015

Industry

Media, Entertainment & Publishing

Tech Sector

MediaTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Pasadena, California

Business Type

Growth

Company Website

Tap Systems, with a valuation of $51.3 million, is raising funds on Wefunder. The company has developed its patented input solution that works well for augmented and virtual reality systems. The input solution of Tap Systems is easy, fast, accurate, and eyes-free and solves the problems related to the current slow and error-prone input solutions. Tap Systems has tens of thousands of customers and has generated $2 million in sales to date. David Schick and Dr. Sabrina Kemeny founded Tap Systems in February 2015. The current crowdfunding campaign has a minimum target of $200,001 and a maximum target of $4,999,999. The campaign proceeds will be used for research and development, sales and marketing, and general and administrative expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$885,346

$1,311,181

COGS

$553,845

$698,640

Tax

$0

$0

 

 

Net Income

$-1,924,505

$-2,629,615

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$282,590

$760,658

Accounts Receivable

$1,238

$2,550

Total Assets

$688,067

$1,227,459

Short-Term Debt

$755,178

$473,512

Long-Term Debt

$5,363,027

$5,411,809

Total Liabilities

$6,118,205

$5,885,321
Financials as of: 11/05/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Tap Systems 11/04/2022 Wefunder $51,271,714 $2,422,967 Equity - Common Funded RegCF
Tap Systems 11/29/2019 StartEngine $19,500,000 $1,069,766 Equity - Common Funded RegCF
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Founder Profile

Tap Systems Founder Dovid Schick Is Improving the Metaverse

Augmented reality (AR) and virtual reality (VR) have enjoyed a boost in popularity during the pandemic, finding uses in business, education, and retail in addition to gaming. However, they still have a ways to go in inputting text. Due to the lack of a hard surface and accurate ways to track finger movements, typing can prove tricky and inefficient.

Tap Systems is offering a wearable solution that allows users to type and select accurately in AR and VR. For a smooth experience, users simply need to wear the Tap Strap 2 and tap their fingers against a surface. We reached out to co-founder and CEO Dovid Schick to hear more about the inspiration behind the company and how it’s addressing supply chain problems.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview

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Tap Systems on Wefunder 2021
Platform: Wefunder
Security Type: Equity - Common
Valuation: $51,271,714
Price per Share: $2.00

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