Twofold

Twofold

On Demand, Space-Saving Furniture.

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Security Type
Preferred Stock
Categories
Other
Min Investment
$1,000
Location
Portland, OR
Offering Date
April 03, 2020
Expected Close Date
June 19, 2020
Target Raise
$400.00K-$1.00M
Deal Notes

Round type: Seed Round size: US $1,000,000 Minimum investment: US $1,000 Target Minimum: US $400,000 Raised to date: US $150,000 US $0 (under Reg CF only) Security Type: Preferred Equity Share price: US $0.4192 Pre-Money valuation: US $5,000,000 Option pool: 10.94% Is participating?: False Liquidation preference: 1.0x

Valuation
$5,000,000

Company Description

On Demand, Space-Saving Furniture.Packed open offices, 300 square feet micro-apartments, and overall lack of workspace in public areas are symptoms of growing urban density, skyrocketing costs, and changing values. Companies and owner/operators no longer have the luxury of treating space as a commodity and need to make every square foot count and more useful. Companies stuffed into crowded open offices need to be able to grow in place without costly build-outs or increased square footage.Introducing the Twofold Assembly Collection, consisting of our first two products: The Plaza Space and the Twofold Working Wall. The Plaza Space is our recently launched, mobile-focus-meeting space on wheels. Brand-able or adjustable to the users' needs via several options, it is what a particular customer needs it to be. Changes in user needs, brand, and/or colors are easy to accommodate by just exchanging its modular walls and creating a brand-new space. Our Plaza Space can also turn into a revenue-generating item by using the walls for advertising if used in a public space. Our second product, the Twofold Working Wall (estimated market launch in Q2 2020) transforms walls into workspaces and folds away into a 4-inch compartment, returning valuable floor space when not in use. It was invented as a solution for work from home, micro-living, co-living, small hotel rooms, hoteling employees, and education. We call it the first in our zero footprint furniture line: Products that bring the office home without taking up space when the work is done. Our product development was guided by pilots at Uber and other well-known tech giants. Intel was our first customer and our 2019 pre-launch revenue was over $90,000. We are in the process of building out our sales channels through industry-typical, independent sales representatives and dealers. Both work on a commission-only basis. 

Key Deal Facts

Product development was guided by pilots at Uber and has generated over $90k in pre-launch revenue from customers including Intel and NBP Capital
Exclusive license to a pending design patent for a modular workstation
Executed agreement with a global contract manufacturer
Winner of Portland Business Journal’s Product Innovation Award and the Good Design Award
Featured in 2018 Interior Design Magazine’s fall market tabloid

Deal Notes

Round type: Seed Round size: US $1,000,000 Minimum investment: US $1,000 Target Minimum: US $400,000 Raised to date: US $150,000 US $0 (under Reg CF only) Security Type: Preferred Equity Share price: US $0.4192 Pre-Money valuation: US $5,000,000 Option pool: 10.94% Is participating?: False Liquidation preference: 1.0x

Amount Raised : $212,501
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Security Description

Preferred securities are a type of investment that generally offers some sort of preferred treatment through a dividend or preferred treatment in a liquidation.

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