Let’s start with the top line numbers first:
Amount Raised: $3,000,000
Total Investors: 547 investors
Total Time: 72 hours (3 days only!)
Average Amount: $5,484
To put the $3 million raised over 3 days into context, that’s a staggering $41,667 per hour. Simply incredible. The campaign broke through the $1 million barrier in only 2 hours and 29 minutes. Scarcely believable. The previous record for hitting $1 million was by medicinal cannabis firm Montu and it took them 36 hours.
$350 - $1,000 = 223 investors
$1,000 - $5,000 = 190 investors
$5,000 - $10,000 = 63 investors
$10,000 + = 72 investors
16 Feb = $1,400,000 (281 investors)
17 Feb = $494,300 (134 investors)
18 Feb = $564,800 (109 investors)
19 Feb = $540,900 (23 investors)
Unfortunately, many investors missed out. After yielding over 860 Expressions of Interest on the Birchal platform, only 547 investors were able to snap up shares in Thrive before the offer closed.
The $3 million fundraise will allow us fast-track further product development, go-to-market planning and marketing. We have already began the process of hiring some team members who had been waiting on the fundraise to close.
We set a target of between $1 million and $3 million, which we felt was an audacious goal for the period of the campaign but to reach the maximum in only three days has been gobsmacking for the team. It just shows the level of support we have for what we are building.
Special thanks must go to Birchal, the crowdfunding platform we selected. Matt, Robin, Kellie and the team were awesome in helping us from start-to-finish. Kudos to Colour Chorus for producing our very flashy pitch video and Glide, our digital marketing agency, who executed flawlessly.
Finally, on behalf of the entire Thrive team, all the credit for this campaign must go to our investors. You have given us the remit to take this business forward and to launch a successful product that will help businesses later this year. With your support we are back on the tools and back at work, extra motivated and raring to make Thrive a success. Thank you!