Three Of Strong

Three Of Strong

Three of Strong, with a valuation of $5.02 million, is raising funds on StartEngine. It is a Portland distillery that makes all-natural gin, rum, and ready-to-drink cocktails. Three of Strong spirits are focused on sustainability, fun, and quality and have won several awards in prestigious blind tastings. The company works on a hybrid business model and sells through the direct-to-customer platform for better margins and price control and traditional retail distribution for better visibility. Samuel Pierce and David Bruce McConnell founded Three of Strong in April 2018. The current crowdfunding campaign has a minimum and maximum target of $123,999.95. The campaign proceeds will be used for marketing, inventory, working capital, company employment, and operations.

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Investment Overview

Raised this Round: Raised: $143,838

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
10/24/2024
Close Date
02/25/2025
Min. Goal
$124,000
Max. Goal
$1,235,000
Min. Investment

$500

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.37

Pre-Money Valuation

$5,018,124

Company & Team

Company

Year Founded
2018
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Location
Portland, Maine
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Sam Pierce
Title
Co-CEO
Founder Name
David McConnell
Title
Co-CEO

Financials

as of October 15, 2024
 Revenue +36% YoY
$562,354
 Monthly Burn
$25,000
 Runway
5.6 months
Gross Margin
146%

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$562,354

$413,635

COGS

$-256,382

$-182,544

Tax

$0

$0

 

 

Net Income

$-735,848

$-787,773

Summary Balance Sheet

FY 2023 FY 2022

Cash

$216,163

$86,971

Accounts Receivable

$16,401

$9,899

Total Assets

$1,810,439

$1,643,432

Short-Term Debt

$99,959

$819

Long-Term Debt

$708,517

$48,718

Total Liabilities

$808,476

$49,537

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$1,525,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/25/2025 StartEngine $5,018,124 $143,838 Equity - Common Active RegCF
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Add to portfolio
Three of Strong on StartEngine 2024
Platform: StartEngine
Security Type: Equity - Common
Valuation: $5,018,124
Price per Share: $0.37

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