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Hacking Labs

Energy & Cleantech · Novato, CA · Founded 2016

Bomb-proof carbon belt drivetrains

Post-money valuation ⓘ
$15.3M
As of Apr 2024 · from Reg CF Offering (2023) · pre-money + amount raised, not a traded price
Total raised
$1,603,460
Crowd $1.1M · Private $531K · 4 rounds since 2018
Latest share price
$1.20
Reg CF · Common Stock · Oct 2023 offering price

Financials

FY2018–FY2022 · from SEC filings · hover any figure for its source
$34K
−$137K
2018
2019
$108K
−$130K
2020
$238K
−$553K
2021
$523K
−$423K
2022
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2018 reviewed*
FY2019 reviewed*
FY2020
FY2021 unaudited
FY2022 unaudited
Income statement
Revenue
$33,665
—
$107,664
$238,140
$522,825
Cost of goods sold
$9,678
—
$51,589
$157,001
$302,633
Gross margin
71%
—
52%
34%
42%
Net income
-$136,613
—
-$130,207
-$552,606
-$422,996
Taxes paid
$0
—
$800
$4,155
$3,914
Balance sheet
Cash
$3,552
—
$64,234
$76,606
$105,283
Accounts receivable
$0
—
$0
$0
$1,257
Total assets
$40,056
—
$103,625
$220,600
$279,734
Short-term debt
$10,153
—
$12,394
$222,857
$163,432
Long-term debt
$0
—
$125,038
$125,037
$352,977
Total liabilities
$10,153
—
$137,432
$347,894
$516,409
Other
Headcount
—
4
—
6
4

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$7.5M
pre-money
$15.0M
pre-money
Reg CF · Common · Mar 2021
Reg CF · Common · Oct 2023

Blue bars are the pre-money valuation the company stated for a priced round.

Share price over rounds

$1.5091$0.7546$0.2168
Apr 2018Oct 2023
Round offering price or verified disclosed saleDisclosed sale, unverified or year-onlyDown round · Jul 2019 (-85.6%)

Disclosed sales come from the issuer's own filings (prior-offering lines, audited-statement notes) and are amount ÷ securities sold. A down round is a firm point more than 25 % below the previous firm point of the same share class on a comparable basis; the comparison ignores unverified and year-only lines.

Cap table

Share counts as of Dec 31, 2022
ClassOutstandingVotes / shareShare of totalLast price
Common Stock11,935,467—100.0%$1.20Oct 2023

Shares outstanding over timein today's share terms

12M6.0M0
Dec 2021Dec 2022
Common Stock

Sold to the crowd

From the company's SEC filings: share counts per class, each class's voting and conversion terms, and the holders of 20% or more that Form C requires (officers and 10%+ holders on Form 1-A). Filings name only large holders, so most owners — including crowd investors — are not listed, and a holder's percentage may be of its own class rather than of the whole company. Prices and crowd share counts are in today's share terms — adjusted for splits and conversions since they were sold. Hover a figure for its filing.

Fundraising history

Raised $286.1K / $617KInvestors 144Post-money $15.3M
Raised $786.4K / $1.1MInvestors 923Post-money $8.5M

Team

5 people
Sean HackingFounder
Founder and CTO

"Growing up in a small town tucked in the Nor-Cal mountains, his dedication to both engineering and bikes came to be. From being carted by his parents in bike trailers at a young age, to building his first e-bike as a teen, bikes have always been a passion. After studying Bioengineering at UC Santa Cruz he worked in R&D and DNA mass production, but his passion for bikes was always there. While renting bikes in Taiwan , his chain broke in a busy intersection and threw him to the ground. He thought that there must a better, more reliable drivetrain available. He discovered belt drives but hated that you needed a special bike to install one. Upon his return he wasted no time tackling a longtime hassle with drive-trains and Split Belt, our first product, was born. Thus, the company was formed and the dedication to make biking hassle free for the masses began. "

Kelly Burr
CEO

37 years cycling industry experience in product development, sales, and operations with a deep base of industry knowledge and contacts Previously: Lead Marin Bikes to sales upwards of $60M as VP of Operations and VP of Product

Colin Hacking
Chairman of the Board

Colin is a retired microwave and electrical engineer and entrepreneur. He founded the original Hacking Labs, Inc. in the 1980's commercializing his antenna designs, and also worked in the Space Shuttle program.

Daniel Hacking
Treasurer of the Board

Daniel is a talented engineer and passionate cyclist, and was a key figure in the development and testing of the original Split Belt product line. He serves on the board as Treasurer.

Katrina Mounivong
Business Manager

6 years cycling industry experience B.S. Biochemistry and business management Previously: Operations experience from the restaurant industry

Names and titles as disclosed on SEC Form C, StartEngine. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Delinquent

Filed 2 of 6 annual reports (FY2020–FY2025)

Missing: 2020, 2023, 2024, 2025

923 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

  • Form C-UMay 7, 20240001665160-24-000802
    EDGAR
  • Form C/AMar 27, 20240001665160-24-000279
    EDGAR
  • Form C/AJan 26, 20240001665160-24-000043
    EDGAR
  • Form C/ADec 13, 20230001665160-23-001992
    EDGAR
  • Form C/AOct 25, 20230001665160-23-001877
    EDGAR
  • Form CSep 28, 20230001665160-23-001799
    EDGAR
  • Form C-ARJul 20, 20230001665160-23-001545
    EDGAR
  • Form C-ARMay 2, 20220001665160-22-001488
    EDGAR
Source: ManualCIK 0001847180CAShare price $1.20

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.