Vestaboard, Inc.

Vestaboard, Inc.

Connect and inspire with Vestaboard

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Security Type
Other
Categories
Other
Min Investment
$500
Location
San Francisco, CA
Offering Date
June 15, 2020
Expected Close Date
September 16, 2020
Target Raise
$10.00K-$1.07M
Deal Notes

Security Name: Series Seed 2-C Preferred Stock

$1.70 per share

Valuation
$9,390,000

Company Description

Vestaboard is a modern internet-connected display that can be controlled from anywhere. We have totally reimagined the design of a split-flap display you might have seen in a European train station, bringing it into the 21st century. Vestaboard can receive automated updates from many of your favorite apps via IFTTT, including Apple and Google Calendars, Slack, Teamsnap, or connect to other smart home devices like Alexa or Google Home, and can support enterprise-level solutions via our API.

Key Deal Facts

We've received $4.3 million in reservations, with our very first units going to early customers in July
The design and engineering team behind Vestaboard was involved in the launch of Amazon Echo and Nest, with patents issued and pending for Vestaboard
The global smart display and smart digital signage market is expected to grow from USD $861 million in 2018 to USD $6.6 billion by 2025, at a CAGR of 34.0%

Use of Proceeds

Operations: 16.5 - 70.0%

Company Employment: 21.5 - 80.0%

Marketing: 0 - 5.0%

StartEngine Platform Fees: 3.5%

Management Team / Advisory Board Bios

Dorrian Porter
Founder and CEO
Dorrian envisions Vestaboard as a leader in smart displays that exists to connect and inspire people. Prior to Vestaboard Dorrian co-founded and ran two companies that delivered software as a service, one of which pioneered e-commerce in higher education and one in mobile marketing around music and live events.

Ian Guyer
Asia-Pacific Operations
Ian was the first employee at Vestaboard and has a background in computers, electronics, design, QA and operational roles. He oversees everything production-related to Vestaboard, working closely with the engineering team, factory, and suppliers to deliver Vestaboard according to the design intent. Ian worked with our CEO on other projects prior to full-time employment at Vestaboard.

Faiza Hassan
Product Design
Faiza has worked on Vestaboard as an independent contractor since the Company’s inception in 2015, leading and overseeing all aspects of design and function of Vestaboard as a hardware device. Previously Faiza worked on the first generation of the Amazon Echo and related products at Amazon, and prior to that spent over ten years as a product designer and mechanical engineer at Dell and Pump Studios. We expect to work with Faiza closely in the future, which may extend to employment.

Steve Zadesky
Advisor to CEO
Steve is an advisor to the CEO and is currently advising and investing in a number of startups across many hardware spaces. At Apple he was lucky enough to help build and lead the teams for the first iPod, first iPhone, as well as hundreds of Apple accessory products. He was responsible for a wide range of large engineering organizations including Material Science, EE, Product Design, Project Management, Acoustics and Firmware, and he has over 150 issued patents where he is listed as inventor.

Aaron Clark
Revenue and Operations Advisor
Aaron is an advisor to the CEO and an independent contractor in areas of revenue and operations. Aaron worked with our CEO at a previous company and has a long experience with start-ups, business development and operations. We expect to work with Aaron closely in the future, which may extend to employment.

Matt Collier
Channel & Corporate Development Advisor
Matt has been an advisor to our CEO on channel programs, go-to-market and corporate development since 2018. Matt has scaled hardware and SaaS businesses to substantial revenue, including as SVP Channel and sales at LifeSize Communications. We expect to work with Matt closely in the future, which may extend to employment.

Chris Jelly
Software, Cloud and Architecture Advisor
Chris is an advisor to the CEO and independent contractor who oversees all aspects of our software development including technical architecture, back-end systems, web development and its connection with mobile and embedded systems. We expect to work with Chris closely in the future, which may extend to employment.

Moustafa Badawy
Software and Mobile Apps
Moustafa is a software engineer for Vestaboard who has operated as an independent contractor and employee since our inception. Moustafa oversees all mobile app development for Vestaboard and contributes to the overall software development. Moustafa is also the Founder and CTO of Rubikal, a software development firm working with Vestaboard. Moustafa worked with our CEO on two software projects prior to Vestaboard.

Dominic Monette
Embedded Systems
Dominic has worked as a full-time independent contractor for Vestaboard since February 2019. Dominic is directly building and overseeing all aspects of embedded system software development for Vestaboard. We expect to work with Dominic closely in the future, which may extend to employment.

Mark Confroy
Customer Success & Logistics Advisor
Mark is an independent contractor leading and giving shape to all aspects of customer success and logistics, including delivery of Vestaboard to customers. Mark previously worked with Aaron and Dorrian at prior companies. We expect to work with Mark closely in the future, which may extend to employment.

Kristin Keeffe
Business Development and Legal Advisor
Kristin is an independent contractor and legal advisor. She has over 20 years experience as a corporate and commercial attorney, and worked with our CEO at the same law firm (Wilson Sonsini Goodrich & Rosati in Palo Alto, California) at the start of their careers. We expect to work with Kristin closely in the future, which may extend to employment.

Zulema Payan
Customer Success
Zulema has worked as a full-time employee with Vestaboard since we publicly previewed our concept for Vestaboard for the first time at the Consumer Electronics Show in 2018. Zulema is primarily engaged with account development and management of our business customers. She has previous experience as an account manager and events.

Theresa Gadaire
Customer Success & Communications
Theresa has worked as a full-time employee with Vestaboard since 2018 and previously was an independent contractor. Theresa leads the ongoing daily engagement with our customer base, and is leading and shaping areas of customer support and experience, training and account management. Theresa has over ten years of experience in areas of customer success, account management and training.

Carolyn Nickell
Brand and Communications
Carolyn leads brand and communications for Vestaboard and has been an independent contractor since inception of the Company. Carolyn is an entrepreneur and has trained as a full-stack software engineer. She has over ten years of experience in marketing, product launches and start-ups and worked with our CEO prior to Vestaboard. We expect to work with Carolyn closely in the future, which may extend to employment.

Rishabh Gupta
Marketing and analytics
Rishabh leads marketing analytics for Vestaboard and has been an independent contractor since 2019. He has been helping startups succeed in their e-commerce driven programs and business solutions. We expect to work with Rishabh closely in the future, which may extend to employment.

Eric Om
Software Engineer and Web
Eric is a software engineer for Vestaboard who has operated as an independent contractor from time to time since research began on Vestaboard in 2015. Eric contributes in areas of web development and analytics and has experience as a data engineer at other companies. We expect to work closely with Eric in an ongoing capacity.

Adam Reed-Erickson
Mechanical Engineering Consultant
Adam Reed-Erickson is a mechanical engineer consultant and has been an independent contractor to Vestaboard since 2018. He specializes in product design and mechanical engineering, and previously worked at product design consultancies including Lunar (now McKinsey Design), fuseproject and Lime Lab (now PCH International). We expect to work with Adam closely in the future in an ongoing capacity.

Scott Brenneman
Electrical Engineering Consultant
Scott is an electrical engineer and product design consultant and has been an independent contractor to Vestaboard since 2018. He has a long history in helping organizations succeed in their electronic product design and development programs. He has previously worked as an employee at Tesla, Apple and IDEO. We expect to continue working closely with Scott in an ongoing capacity.

Deal Notes

Security Name: Series Seed 2-C Preferred Stock

$1.70 per share

Amount Raised : $329,568
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