Thriving Design

Thriving Design

Closed: Aug. 2022

About this raise

Thriving Design, with a valuation of $4 million, is raising funds on Wefunder. The company makes patented clips that help gardeners build custom plant supports. The C-BITE clips are durable, reusable, and customizable and help people grow their own food in the garden of their dreams. The product line of Thriving Design includes C-BITE, plant support kits, stake safety caps, garden twist ties, and steel garden stakes. The business has sold one million C-BITE clips to date and generated $300,000 in revenue. Morgan Rider founded Thriving Design in June 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for trade shows, salaries, and facility build-out.

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Investment Overview

Invested this round: $58,870

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
07/12/2022
Close Date
08/18/2022
Min. Goal
$50,000
Max Goal
$250,000
Min. Investment

$100

Security Type

Convertible Note

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$4,000,000

Discount

20%

Company & Team

Company

Year Founded
2020
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Location
Fort Collins, Colorado
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Morgan Rider
Title
Co-Owner
Founder Name
Jason Rider
Title
Co-Owner

Financials

 Revenue
$102,863
 Monthly Burn
$19,761
 Runway
2 months
 Gross Margin
13%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$102,863

$10,892

COGS

$89,547

$2,252

Tax

$2,294

$10

 

 

Net Income

$-237,136

$-116,050

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$38,833

$39,463

Accounts Receivable

$202

$2,816

Total Assets

$126,493

$103,009

Short-Term Debt

$217,417

$87,294

Long-Term Debt

$216,329

$81,329

Total Liabilities

$433,746

$168,623

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$306,529
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
08/18/2022 Wefunder $4,000,000 $58,870 Convertible Note Funded RegCF
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Add to portfolio
Thriving Design on Wefunder 2022
Platform: Wefunder
Security Type: Convertible Note
Valuation: $4,000,000

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