In Force Technology

Advanced Emergency Communication Software

Analytics

Raised to Date: $32,566

Aggregate Commitments $
Platform

StartEngine

Start Date

02/10/2021

Close Date

04/30/2021

Min. Goal

$9,997

Max. Goal

$1,069,963

Min. Investment

$229

Security Type

Equity - Common

Funding Type

RegCF

Series

Seed

Pre-Money Valuation

$11,998,426

Rolling Commitments $
Status

Active

Reporting Date

04/21/2021

Days Remaining

7

% of Min. Goal

326%

% of Max. Goal

3%

Likelihood of Max
unlikely
Avg. Daily Raise

$465

# of Investors

58

Momentum
cold
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Location

Lynnfield, Massachusetts

Industry

Security, Cybersecurity, & Defense

Tech Sector

EdTech

Distribution Model

B2B

Margin

High

Capital Intensity

High

Business Type

Growth

In Force Technology, with a pre-money valuation of $12 million, is raising crowdfunding on StartEngine. The company has developed software for advanced emergency communication. The mobile panic button aims to save lives by reducing police response time and bridge the communication gap between the police and those experiencing the threat. Donald Flanagan and Brandon Flanagan founded In Force Technology in 2017. The current crowdfunding raise has a minimum target of $9,996.63 and a maximum target of $1,069,962.90, and the funds will be used to add more school districts and increase revenues. In Force Technology’s SaaS recurring revenue grew from $374,000 in 2019 to $430,000 in 2020.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$373,632

$166,802

COGS

$107,920

$62,459

Tax

$0

$0

 

 

Net Income

$-1,515,484

$-812,921

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$22,260

$174,920

Accounts Receivable

$97,305

$12,900

Total Assets

$1,369,309

$711,639

Short-Term Debt

$1,437,897

$336,062

Long-Term Debt

$34,129

$1,018,498

Total Liabilities

$1,472,026

$1,354,560

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