This App Saves Lives

Early Stage

Mobile app-based platform that rewards and gamifies safe driving behavior

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

SeedInvest

Start Date

11/10/2022

Close Date

12/16/2022

Min. Goal

$25,000

Max. Goal

$1,235,000

Min. Investment

$1,000

Security Type

SAFE

Series

Pre-Seed

Funding Type

RegCF / RegD 506(c)

Valuation Cap

$5,000,000

Discount Rate

10%

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

12/25/2022

Days Remaining
Not Funded
% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
Not Funded
Avg. Daily Raise

$0

Momentum
Not Funded
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Location

Ardmore, Pennsylvania

Industry

Security, Cybersecurity, & Defense

Tech Sector

GamingTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

This App Saves Lives, with a valuation of $5 million, is raising funds on SeedInvest. It is an app-based platform that gamifies and rewards safe driving behavior. The app uses powerful technology and a rewards-based approach to replace distracted driving with a safe one. This App Saves Lives works on a multi-stakeholder business model and is helpful for consumers, brands, employers, and insurance companies. The business has grown its user base by 85% year-over-year from August 2021 to August 2022 and has prevented over 50 accidents. Ryan Frankel founded This App Saves Lives in October 2020. The current crowdfunding campaign has a minimum RegCF target of $25,000, a minimum raise target of $320,000, and a maximum target of $1.24 million. The campaign proceeds will be used for product development, team expansion, and growth marketing.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$5,151

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-213,144

$-75,565

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$429,373

$131,395

Accounts Receivable

$0

$0

Total Assets

$429,373

$131,395

Short-Term Debt

$108,212

$5,139

Long-Term Debt

$672,300

$170,000

Total Liabilities

$780,512

$175,139

Financials as of: 11/10/2022
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This App Saves Lives on SeedInvest 2022
$
Platform: SeedInvest
Security Type: SAFE
Valuation: $5,000,000

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