VirZOOM

VirZOOM

Early Stage

The future of fitness, in partnership with Facebook!

The future of fitness, in partnership with Facebook!

Overview

Raised to Date: Raised: $192,665

Total Commitments ($USD)

Platform

StartEngine

Start Date

03/15/2023

Close Date

07/06/2023

Min. Goal
$10,000
Max. Goal
$911,956
Min. Investment

$250

Security Type

Equity - Preferred

Series

Series B

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.49

Pre-Money Valuation

$45,758,966

Rolling Commitments ($USD)

Status
Funded
Reporting Date

07/30/2023

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

$1,720

# of Investors

129

Momentum
Funded
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Year Founded

2015

Industry

Fitness & Wellness

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

High

Capital Intensity

High

Location

Cambridge, Massachusetts

Business Type

Growth

VirZOOM, with a valuation of $45.76 million, is raising funds on StartEngine. The company has created the next generation of interactive and immersive in-house fitness through virtual reality. The customers get to engage in multiple virtual activities with a lot of fun. The business is currently developing its fourth generation of virtual reality exercise games and has recently launched its testbed app. Eric Janszen and Eric Malafeew founded VirZOOM in 2015. The current crowdfunding campaign has a minimum target of $9,999.92 and a maximum target of $911,955.66. The campaign proceeds will be used for research and development, company employment, working capital, and outsourced resources.

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$496,629

$459,757

COGS

$174,269

$90,556

Tax

$0

$0

 

 

Net Income

$-1,555,161

$-1,706,244

Summary Balance Sheet

FY 2021 FY 2020

Cash

$93,243

$49,669

Accounts Receivable

$25,075

$34,018

Total Assets

$176,926

$95,477

Short-Term Debt

$111,578

$190,248

Long-Term Debt

$661,258

$3,214,781

Total Liabilities

$772,836

$3,405,029

Financials as of: 03/15/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
VirZOOM 07/05/2023 StartEngine $45,758,966 $192,665 Equity - Preferred Funded RegCF
VirZOOM 07/06/2022 Wefunder $30,499,157 $1,476,203 Equity - Preferred Funded RegCF
VirZOOM 11/21/2020 Wefunder $20,000,000 $454,166 SAFE Funded RegCF
VirZOOM 04/13/2019 Wefunder $8,000,000 $288,525 SAFE Funded RegCF
VirZOOM 05/30/2017 Netcapital $8,000,000 $548,968 Equity - Common Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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VirZOOM on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $45,758,966
Price per Share: $0.49

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