AmmoSquared® Inc. Raises over $300K in Seed Round
AmmoSquared® utilized Wefunder.com, an equity crowdfunding site, to raise capital from customers and gun rights supporters to scale its unique ammunition subscription model to the mainstream market.
Boise, Idaho (March 2020)AmmoSquared® Inc., the online ammunition subscription site, has completed its equity crowdfunding round on Wefunder.com, raising nearly $313k from pro-gun investors to date.
Investors in AmmoSquared Inc. will receive Series Seed Preferred Stock at a $4.49m valuation. The company will use the funds to improve their current technology, build a more user-friendly platform, provide customers with more specific subscription options (down to the UPC level), and increase the current offering of 88 calibers to over 200, including calibers that are hard to find or are very expensive.
“I am very excited to welcome our new investors to AmmoSquared! It was always a personal goal of mine to open the business opportunity to small investors through an equity crowdfund. Many of our investors are also customers who saw the value of the service before anyone else did and so as new owners in the company, can now take part in our rapid growth.” Dan Morton, CEO of AmmoSquared Inc., commented.
AmmoSquared’s subscription formula allows customers to accumulate ammunition over time through a recurring purchase program. It is then stored securely and delivered on request or automatically via pre-set delivery triggers. During the current ammo shortage crisis, in which retail and online store shelves are out of stock, AmmoSquared customers are confidently able to receive their accumulated ammunition without issue.
New investors in AmmoSquared are betting that the company’s unique approach to selling ammunition, much like a 401K for ammo (minus the tax benefits, of course), will appeal to new and existing gun owners who want to stay stocked up on ammo, regardless of future market and social conditions.
Over the past year, there has been a surge in demand for the company’s ammunition accumulation program, with the current COVID-19 crisis and ammo shortage further highlighting the importance of AmmoSquared’s business model as a game-changer in the ammunition industry. Subscriber growth has increased over 200% from 12 months ago with a 27% increase in just the last three weeks alone.
About AmmoSquared Inc.:
Started in 2015 as an LLC by husband and wife team Dan and Danielle Morton, the company incorporated in July 2019 as a Delaware C-Corp and brought on Chris Corriveau as CTO and Clay Knight as Head of Design. The company has generated over $1m in revenue to date through its innovative ammo subscription service. Plans are underway to build AmmoSquared 2.0 – a next-generation digital ammunition exchange platform that will allow customers a new approach to purchasing, exchanging, and managing ammunition online.