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Disclosure: I have a financial relationship with Reveal AI
Oleksandr Bulatnikov
Aug 14, 2024
Hello,
I really like what Reveal does, and think that the opportunity is really huge. But could you please clarify the investment terms, current traction, and why there's no plan to raise from VCs?
Co-Founder And CEO
Hi Oleksandr and thanks for your questions. The investment terms are a SAFE with a 20% discount. That information is in the details here on the raise page. Current traction is multiple customers who are using and paying for our product each month with a pipeline that includes large US brands, consulting firms and market research firms. This Wefunder raise was designed for friends, family members and supporters of Reveal.
Hey there,
I run a community round focused venture fund and have a few questions for you that I'd love to ask 1 on 1 if possible.
What's the best way to reach you before end of the community round for a zoom meeting?
Co-Founder And CEO
Hey Tristin, so sorry that I missed this question from way, way back in May. My apologies! Our raise is scheduled to close on Aug 26th. If you still have interest and want to zoom, let me know. Thank you.
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This is an uncapped safe?
Co-Founder And CEO
Yes, that's correct Adam. We used this approach to raise from angels last Fall.
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This investor has been frequently Upvoted for their diligent questions
Hi there, a) What is your most recent monthly burn rate? b) What is your most recent monthly cash on hand? c) Are you raising a parallel angel or VC round simultaneously? If yes, who is investing in this round?
Co-Founder And CEO
Hi Teddy, thanks for your questions. Please see my responses below.
a) recent monthly burn rate = $18K/mo
b) monthly cash on hand = 6+ months, which includes account payables from revenue-paying customer activities in Q1
c) no plans to raise from VCs; several angels invested previously and may do so again at their discretion; angels pop up from our network on a regular basis to explore investing in our company; examples include former colleagues of mine from Cisco
Hope you find this information helpful. Glad to address any follow-up questions or to schedule time with you via phone or Zoom if that's more convenient or preferred.
Thanks!
goodluck!
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This investor has been frequently Upvoted for their diligent questions
Would you consider raising the initial $50k at 70% discount to a higher amount? It looks like that initial $50k filled up quickly and think by increasing that intro offer could spike move movement.