This App Saves Lives
Early Stage
Mobile app-based platform that rewards and gamifies safe driving behavior
Overview
Raised: $0
Total Commitments ($USD)
Platform
SeedInvest
Start Date
11/09/2022
Close Date
12/16/2022
Min. Goal
$25,000
Max. Goal
$1,235,000
Min. Investment
$1,000
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
/ RegD 506(c)
Valuation Cap
$5,000,000
Discount
10%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
12/24/2022
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2020
Industry
Security, Cybersecurity, & Defense
Tech Sector
GamingTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
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: 11/09/2022
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