Worklete

An AI-powered mobile platform keeping frontline workers safe and healthy.

Analytics

Raised to Date: $64,561

Aggregate Commitments $
Platform

Republic

Start Date

04/20/2021

Close Date

07/30/2021

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$150

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$30,000,000

Discount Rate

0%

Rolling Commitments $
Status

Active

Reporting Date

05/12/2021

Days Remaining

76

% of Min. Goal

258%

% of Max. Goal

6%

Likelihood of Max
unlikely
Avg. Daily Raise

$2,935

# of Investors

180

Momentum
cold
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Location

Oakland, California

Industry

Education, Training, & Coaching

Tech Sector

HealthTech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Business Type

Growth

Worklete, with a $30 million valuation cap, is raising funds on Republic. The AI-powered mobile platform keeps frontline workers safe and healthy by preventing injuries before they occur. The program teaches workers how to use their bodies correctly and develop preventive habits. Benjamin Kanner founded Worklete in October 2015 and has raised over $5 million in previous rounds of financing. The current crowdfunding round has a minimum target of $25,000 and a maximum target of $1,070,000, and the funds will be used to enhance the technology and expand the customer base. Worklete reached $2.2 million in ARR in the first quarter of 2021 and expects to reach $5 million by the end of 2021 and $15 million by 2022. The company has strong traction and is operating with 90% profit margins.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$3,084,482

$2,428,153

COGS

$658,891

$553,303

Tax

$0

$0

 

 

Net Income

$-1,362,486

$-4,865,011

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$1,555,465

$2,207,017

Accounts Receivable

$210,250

$1,955,220

Total Assets

$1,828,231

$4,313,215

Short-Term Debt

$2,788,535

$2,562,230

Long-Term Debt

$1,200,000

$2,000,000

Total Liabilities

$3,988,535

$4,562,230

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