# Heart Rate Social

Closed: Jul. 2019

This company is no longer in operation. Investors may have realized an exit or liquidation.

## About this raise

Heart Rate Social, with a valuation cap of $2 million, is raising funds on MicroVentures. It is a community and an application for individuals who are concerned about health and fitness. Heart Rate Social helps them find a workout partner, local fitness events, or even a date with similar interests! Heart Rate Social was founded by Christopher VanBerg in August 2018 and has raised $200,000 in funding in previous rounds. The proceeds of the current crowdfunding round, with a minimum raise of $25,000 and a maximum raise of $107,000, for marketing and adding more revenue-generating features. Heart Rate Social already has about 3,000 downloads and over 2,600 users, and it soon plans to expand nationally.

## Investment Overview

**Not Funded:**
$19,043

### Deal Terms

#### Total Commitments

Platform: Microventures  
Start Date: 05/02/2019  
Close Date: 07/15/2019  
Min. Goal: $25,000  
Max Goal: $107,000  
Min. Investment: $100  
Security Type: Convertible Note

Company Stage: Early Stage  
SEC Filing Type: RegCF  
Valuation Cap: $2,000,000  
Discount: 0%

### Company & Team

#### Company

Year Founded: 2017  
Industry: Fitness & Wellness  
Distribution Model: B2C  
Location: Del Valle, Texas  
Company Website: [Visit Website](http://heartratesocial.com/)

#### Team

Employees: 1  
Founder Name: Christopher VanBerg  
Title: CEO  
[View Christopher VanBerg LinkedIn profile](https://www.linkedin.com/in/christophervanberg/)

Founder Name: Maryanne McKenzie  
Title: Board Member

## Financials

### Summary Profit and Loss Statement  
|                   | FY 2018   | FY 2017   |  
|-------------------|-----------|-----------|  
| Revenue           | $0       | $0       |  
| COGS              | $0       | $0       |  
| Net Income        | $-169,958 | $-54,632 |

### Summary Balance Sheet  
|                   | FY 2018   | FY 2017   |  
|-------------------|-----------|-----------|  
| Cash              | $5,984   | $127     |  
| Total Assets      | $6,749   | $127     |  
| Long-Term Debt    | $31,000  | $21,000  |  
| Total Liabilities  | $31,000  | $21,000  |

## Company Funding & Growth

### Funding history  
| Close Date   | Platform    | Valuation     | Total Raised | Security Type      | Status       | Reg Type |  
|---------------|-------------|----------------|--------------|--------------------|--------------|----------|  
| 07/15/2019    | Microventures | $2,000,000 | $19,043     | Convertible Note    | Not Funded   | RegCF    |