October online startup investing, by the numbers
A summary of the movement across Reg CF, RegA and Debt last month
CHART OF THE WEEK 📈
October saw a minor retreat in capital commitments, but not without its notable developments. Wefunder's performance and the Real Estate & Construction industry stand out in this month's financial flow. Here are some key takeaways from private investing last month:
October closed with $53.2 million in committed capital across equity and debt deals, down slightly from $54 million in September.
Wefunder came out on top for Reg CF equity dollars invested for September 2023 with $10.35 million.
Real Estate & Construction was the most popular industry for the month, bringing in $5.36 million from Reg CF equity offerings.
61 equity deals closed in October, 58 Regulation CF deals and 3 Regulation A+ deals.
197 new deals went live in October: 110 Reg CF equity deals, 110 Reg A+ equity deals, and 20 Reg CF debt deals and went live in October.
DEMO DAY UPDATE
Fresh off the success of our August event, we're thrilled to bring you another exclusive Demo Day on December 6th! This is your chance to hear directly from the founders of top-rated startups poised to transform the market.
More details are on the way, but mark your calendars and keep an eye out for the registration invite.
PITCH REVIEW 💸
Brief: ShiftPosts offers an end-to-end workforce management platform tailored for the healthcare and pharmaceutical sectors. It provides a unified view of schedules and staffing needs, simplifying talent placement. By qualifying healthcare professionals, it reduces wait times and fills shifts efficiently. It’s raising $617,977 at a pre-money valuation of $16.7M with a minimum investment of $356.
Key People: ShiftPosts was co-founded by CEO Elizabeth Cooper and Board Members Patrick Fry and Dave McLean. Cooper has a background in venture investing and entrepreneurship. Before founding ShiftPosts, she served as Global CEO of IDG Channels and sold her spin-out firm. Fry has spent over 40 years at Sutter Health, a nonprofit healthcare provider. McLean also has an extensive background in healthcare, managing health-tech companies, including Medication Management Systems, Inc. (acquired by Genoa HealthCare), NovoLogix (acquired by CVS), and RxHub.
Not an Edge Member yet? Unlock the Ratings 🔓📈
Here's what we like: ShiftPosts has disrupted the Canadian pharmaceutical staffing industry with its innovative workforce management platform. The company's end-to-end solution streamlines scheduling, talent management, and gap-filling for pharmacy staff from a single screen. By consolidating multiple tasks into a few seamless actions, ShiftPosts enables pharmaceutical facilities to fill shifts easily and ensures a seamless staffing process.
ShiftPosts has shown its ability to capture market share and generate substantial sales, with $4.78 million in annual revenue for the most recent fiscal year. In under three years, the team has registered over 70% of all retail pharmacies and hospitals in Canada. With plans to expand abroad and into healthcare staffing, the company is well-positioned to continue a strong growth trajectory. While there are plenty of direct competitors in the US healthcare staffing market, very few solutions directly tackle pharmaceutical staffing.
Here's what we don't: While ShiftPosts has emerged as an industry leader for pharmaceutical staffing in Canada, the Canadian market is limited. Plans to expand into the US and more general healthcare staffing are underway. Entering a new market, however, can be challenging from a regulatory standpoint and with existing competition. Several competitors, such as GigWorx Healthcare, Shiftkey, FleetNurse, Nursa, and NuWest, already offer healthcare staffing solutions in the US. ShiftPosts will have to compete in an entirely new market with existing market leaders and new regulatory challenges.
Would you invest in Shiftposts?
ON THE POD 🎙️
In this episode, Chris sits down with Sean Luangrath, the CEO of Inergy, to discuss the company's mission, products, and growth trajectory. Sean dives deep into the renewable energy market, explaining how Inergy is positioning itself to lead the pack with its innovative solar generator systems.
Listen to the full episode here
TOP-RATED DEALS 🌶️
FinLitX addresses the low financial literacy rate in the U.S. by offering an educational platform that uses AI, autonomous learning, and gamification to make financial education compelling for students. Already adopted by institutions like the NYC Department of Education, the platform targets high school and college students to equip them with essential financial knowledge.
Pre-Money Valuation: $7.6 million
Minimum Investment: $100
Infinity Fuel Cell and Hydrogen leads in renewable energy with patented fuel cells and hydrogen-generating electrolysis technology suitable for extreme environments, utilized by NASA and the US Navy. Their Advanced Product Water Removal (APWR) technology meets AS9100 standards, reflecting their commitment to quality. As demand for sustainable energy grows, the company's innovative, durable, and cost-effective solutions offer businesses a way to minimize carbon footprints and embrace sustainability.
Pre-Money Valuation: $54.3 million
Minimum Investment: $818
Waxelene offers organic skincare solutions, focusing on eczema and sensitive skin, using only natural ingredients without harmful chemicals. Dedicated to eco-friendly practices, their packaging is 100% recyclable, and they contribute to plastic offsets from sales.
Valuation Cap: $8 million
Minimum Investment: $100