Analytics
Raised:
$60,522
Aggregate Commitments $
Republic
08/25/2022
12/26/2022
$25,000
$1,070,000
$250
SAFE
RegCF
Seed
$25,000,000
0%
Rolling Commitments $
Active
10/04/2022
83
242%
6%
$1,513
96
Claymont, Delaware
Apparel & Fashion
HealthTech
B2C
High
Low
Growth
Comrad, with a valuation of $25 million, is raising funds on Republic. The company makes premium compression socks designed for comfort and performance. The socks of Comrad soothe and energize legs and feet while people are standing, sitting, traveling, exercising, or working out. The socks are designed with specific ranges of compression that increase circulation and provide wellness benefits. Comrad is on a $10 million revenue run-rate as of Q2 2022 and has reported a 223% annual revenue growth since its launch. Andrew Ferenci founded Comrad in October 2015. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used to launch new products.
Summary Profit and Loss Statement
Revenue |
$4,297,364 |
$3,418,223 |
COGS |
$946,144 |
$729,922 |
Tax |
$0 |
$0 |
|
||
|
||
Net Income |
$-1,644,286 |
$-1,071,971 |
Summary Balance Sheet
Cash |
$414,282 |
$792,877 |
Accounts Receivable |
$0 |
$0 |
Total Assets |
$1,325,748 |
$1,311,437 |
Short-Term Debt |
$3,878,132 |
$3,861,071 |
Long-Term Debt |
$649,533 |
$214,040 |
Total Liabilities |
$4,527,665 |
$4,075,111 |
Financials as of: 08/25/2022
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Compression socks were originally designed for medial use — to improve circulation or help with musculoskeletal ailments like plantar fasciitis. But thanks to the range of health benefits they offer, compression socks are becoming increasingly popular. You don’t have to be a nurse or have aches in your feet to enjoy improved blood flow, decreased swelling, and even lymphatic drainage.
Those benefits were exactly what Andrew Ferenci needed. He had a job that required him to travel regularly. The frequent plane rides were causing swelling and pain in his feet. He wanted a solution that didn’t scream “medical device,” something he could wear with his regular clothes that wouldn’t draw attention or distract from his work. Thus, Comrad was born.