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Invest in Salesfolks

Service platform enabling expert sales help, instantly.

  • $18,827Amount raised
  • $1,000Minimum
  • $5,000,000Pre-Money valuation

Purchased securities are not currently tradeable. Expect to hold your investment until the company lists on a national exchange or is acquired.

Salesfolks is offering securities under both Regulation D and Regulation CF through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.50% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. Investments made under both Regulation D and Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Furthermore, the contents of the Highlights, Term Sheet sections have been prepared by SI Securities and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by Salesfolks without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Investors should review the risks and disclosures in the offering's draft. The contents of this profile are meant to be a summary of the information found in the company’s Form C. Before making an investment decision, investors should review the company’s Form C for a complete description of its business and offering information, a copy of which may be found both here and below.


Company Highlights

  • Over 1,000 clients on the platform including the Cleveland Browns, Norton Healthcare, the PGA Tour, Federal Savings Bank, Mutual of Omaha Mortgage, and Virtuoso
  • Notable investors/advisors include Gary Flake (former CTO at Salesforce), Gary Rubens (founder of ATG Stores, acquired by Lowes), Brian Cohen (former CMO at Farmer's Insurance), and Ringleader Ventures
  • Powered over 500,000 sales interactions for clients while maintaining 99.8%+ uptime
  • Patent filed for proprietary way technology helps match customers with salespeople

Fundraise Highlights

  • Total Amount Raised: US $18,827
  • Total Round Size: US $1,000,000
  • Raise Description:  Seed
  • Minimum Investment:  US $1,000 per investor
  • Security Type:  Preferred Equity
  • Pre-Money Valuation:  US $5,000,000
  • Offering Type:   Side by Side Offering

The vision of Salesfolks is to revolutionize the way customers and salespeople connect. Salesfolks is a digital marketplace that curates live salespeople who are available on-demand to help you make smarter purchase decisions.


The problem with sales in the digital era:

If you’re looking to buy simple (commoditized) products like books and shampoo on the Internet, it’s easy to do, right? A quick stop at Amazon.com. However, for complex things like mortgages, luxury travel, or even buying an industrial air compressor for your construction business, it helps to have access to a salesperson. It's time to solve the problem of selling non-commoditized (complex, high value) goods and services on the Internet.

1 in 9 workers in the U.S. are in sales (15 million); it's the second largest occupational category. So it's all the more confounding--why is it so difficult to find real and friendly salespeople on the Internet?

That’s why we are building Salesfolks.com. 

Salesfolks is a marketplace where customers can instantly find consultative sales help from live, vetted, and personable salespeople who have expert knowledge and a yearning to help you save time and money while making sure you find what’s right for you.

Salesfolks are trained to help you every step of the way at a concierge level. Salesfolks is based on the modern practice of “collaborative selling" (not the old, outdated form of aggressive, in-your-face sales). Salesfolks are here to give you their time, attention and expertise… to ensure you make the best purchase decision possible. Sales used to be about the scarcity of information. That asymmetry is gone, customers today are smarter than ever. Today, being in sales is all about offering customers time and expertise. But, on the Internet, the sales force is hidden and painfully latent. Today's impatient and time-starved buyers want and expect instant help.

Pitch Deck

Product & Service

Our product has undergone an interesting evolution. One of our early clients was the Cleveland Browns NFL football team. Although they had used legacy chat technology, they wanted to connect their named salespeople with customers on the internet. During that first season, we helped enable more than 15,000 conversations between the Browns sales staff and their customers (fans).

We incrementally developed our platform by powering text, audio, and video chat technology designed specifically for sales scenarios. Our careful observation and evolution resulted in us providing a way for customers to get back to the same salesperson an hour, day, or a week later. Prior to our innovation, chat technology used by companies did not offer an easy way for the customer to immediately get back to the same person they chatted with previously. Our adaptation of the chat model has provided us insight into a broader opportunity to enable synchronous selling.

Over a two-year period, we continued to add customers and hone our craft with a precision focus on how to assist customers and salespeople to better connect on the web. In the second half of 2017, we worked on a pilot project with Microsoft that helped us truly understand just how much salespeople need to get to digital customers faster and talk to the customer at the earliest point possible: the moment a customer expresses buying intent.

We filed a patent application that addresses the novel and proprietary nature in which we are approaching this problem/solution matrix. We believe that when people search for some types of products and services, what they really want is a relevant salesperson to help them make sure they make the best buying decision possible. And so, that's how we're building our solution. We are all about empowering a concierge level of sales interaction.

We started building a destination website, a true marketplace, for live salespeople. We became determined to build a platform for the sales process to make it easy for customers to instantly find a live salesperson. It is our goal to provide the best place on the internet for customers to turn to when they have a complex buying scenario and feel like a qualified salesperson might be able to help.

The marketplace features a taxonomy of over 650 different product/service categories, a search engine, profiles and rating system so customers feel like they can digitally "get to know" a salesperson before reaching out, and a system for conducting real-time sales meetings via text, audio/video, and screen sharing.

We serve both B2C and B2B customers. If the company has salespeople, we want them to use Salesfolks. In order to keep our barrier to entry as low as possible, salespeople can join for free. If they would like to be positioned higher, they can buy advertising for premium placement. And, if they would like to use our entire tool set, we have a premium upgrade to "PRO" available for a monthly subscription.

Team Story

Our team has previously worked together at prior start-ups and we're all passionate about helping improve the way companies sell on the Internet.  As technologists and entrepreneurs we are driven to find new and novel ways to leverage technology to solve large and complex problems. We share a big and bold vision for enabling customers to get direct, unfettered access to salespeople.  We believe strongly that people still buy from people they know and trust and that we're capable of building the plumbing to better facilitate these types of transactional relationships.  As a result, we feel we have the opportunity to transform commerce in a meaningful way.

Founders and Officers

Lief Larson

Founder & CEO

Visionary and Executive Leadership

Lief Larson

Founder & CEO

Visionary and Executive Leadership

Chirag Pancholi

Founder & COO

Operational Management

Chirag Pancholi

Founder & COO

Operational Management

Danny Patterson

Founder & CTO

Technology thought leadership.

Danny Patterson

Founder & CTO

Technology thought leadership.

Wade Wendorf

Founder & Senior Engineer

Architect of Key Infrastructure

Wade Wendorf

Founder & Senior Engineer

Architect of Key Infrastructure

Q&A with the Founder

  • Please detail your market opportunity.

    We believe there are approximately 40 million salespeople globally who lack a solid digital platform for communicating synchronously with today’s digital customer. We also believe that the Internet desperately needs more salespeople to rep complex and/or high-value products, as well as thousands of types of products and services that have not yet successfully migrated from the offline to the online world.

  • Please describe your typical customer/user profile.
    1. The consumer/prospect/buyer (both B2C and B2B). Salesfolks is a FREE offering to consumers and/or commercial buyers.
    2. The companies looking to sell more, faster. We have an advertising offering that enables them to position their salesfolks higher in search results.
  • Please detail your competitive advantages.

    Far and above all other advantages is our unique insight into how customers like to interact with named salespeople. We have spent a couple of years of our lives testing a better way to facilitate relationships between customers and salespeople. Based on our unique insights we have evolved the solution and filed a patent on it. We intend to leverage our early-mover advantage for both the marketplace and the model for on-demand Salesfolks.

  • Please outline your customer acquisition strategy.

    Our acquisition strategy is primarily focused on digital, performance-based marketing. We focus on SEM (search engine marketing) for specific keywords that customers target, then drive those consumer leads to our marketplace. We also intend to run display ads across major business news and resource digital properties to raise awareness with salespeople and companies. We plan to harness our experience in search engine optimization to develop long-tail SEO to drive net-new inbound traffic. Outside of this, we plan to hire a PR shop to help us gain visibility with trade pubs and select influencers. Lastly, we are actively seeking partnerships with sales consulting organizations.

  • Please detail your average sales cycle.

    We offer a premium upgrade subscription to a "PRO" account which we anticipate a ratio of our audience will select very early in their use of the platform, while others may take months to convert after they have first received enough value to justify an additional monthly expense. Our other income method, selling paid placement / advertising slots is based on scarcity since only a limited number of top-level ad spots are available. For those who want to increase their visibility in search results, they can deposit advertising dollars, get higher placement, and pay for performance from their improved position. 

  • The Q&A with the Founder is based on due diligence activities conducted by SI Securities, LLC. The verbal and/or written responses transcribed above may have been modified to address grammatical, typographical, or factual errors, or by special request of the company to protect confidential information.

    Term Sheet

    A Side by Side offering refers to a deal that is raising capital under two offering types. If you plan on investing less than US $20,000.00, you will automatically invest under the Regulation CF offering type. If you invest more than US $20,000.00, you must be an accredited investor and invest under the Regulation D offering type.

    Fundraising Description

  • Round type:
    Seed

  • Round size:
    US $1,000,000

  • Raised to date:
    US $18,827
    US $18,827 (under Reg CF only)

  • Minimum investment:
    US $1,000

  • Target Minimum:
    US $500,000
  • Key Terms

  • Security Type:
    Preferred Equity

  • Share price:
    US $2.6138

  • Pre-money valuation:
    US $5,000,000

  • Option pool:
    6.45%

  • Is participating?:
    False

  • Liquidation preference:
    1.0x
  • Additional Terms

  • Custody of Shares

    Investors who invest $50,000 or less will have their securities held in trust with a Custodian that will serve as a single shareholder of record. These investors will be subject to the Custodian’s Account Agreement, including the electronic delivery of all required information. 


  • Investment Proxy Agreement

    All non-Major Purchasers will be subject to an Investment Proxy Agreement (“IPA”). The IPA will authorize an investment Manager to act as representative for each non-Major Purchaser and take certain actions for their benefit and on their behalf. Please see a copy of the IPA included with Company's offering materials for additional details.


  • Closing conditions:
    While Engage has set an overall target minimum of US $500,000 for the round, Engage must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to Engage's Form C.

  • Transfer restrictions:
    Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.

  • Use of Proceeds

    Investor Perks

    $10,000: Receive one Salesfolks PRO account for a year. Early Investor Reward: receive two all-access, VIP passes to our annual event when you invest by March 8, 2019.

    $25,000: Receive one Salesfolks PRO account for a year, a voucher for 30% off all products and services (valid for one year), plus receive two all-access, VIP passes to our annual event. Early Investor Reward: receive an additional three all-access passes to our annual event when you invest by March 8, 2019.

    $50,000+: Receive a Salesfolks PRO account for your entire company for one year, a 30% off voucher on all products and services (valid for one year),  plus five VIP passes to our annual event. Early Investor Reward:  receive two seats to the founders dinner at our annual event where you'll wine and dine with sales thought leaders when you invest by March 8, 2019.

    It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

    Prior Rounds

    The graph below illustrates the valuation cap or the pre-money valuation of Salesfolks's prior rounds by year.


    This chart does not represent guarantees of future valuation growth and/or declines.

    Pre-Seed

  • Round Size
    US $500,000
  • Security Type
    Preferred Equity
  • Pre-money Valuation
    US $4,500,000
  • Financial Discussion

    Operations

    Engage, Inc. (“the Company”) is a Delaware C‐corporation organized on December 28, 2015, and headquartered in Seattle, Washington. The Company was formed to transform the web‐based sales and service experience. The Company allows online sellers to connect directly to online customers through the use of the Company’s exclusive platform.

    Liquidity and Capital Resources

    The proceeds from the Offering are essential to our operations. We plan to use the proceeds as set forth above under "Use of Proceeds", which is an indispensable element of our business strategy. The Offering proceeds will have a beneficial effect on our liquidity, as we have approximately $1,283 in cash on hand as of 2/11/19 which will be augmented by the Offering proceeds and used to execute our business strategy.

    The Company currently does not have any additional outside sources of capital other than the proceeds from the Combined Offerings.

    Capital Expenditures and Other Obligations

    The Company does not intend to make any material capital expenditures in the future.

    Trends and Uncertainties

    After reviewing the above discussion of the steps the Company intends to take, potential Purchasers should consider whether achievement of each step within the estimated time frame is realistic in their judgment. Potential Purchasers should also assess the consequences to the Company of any delays in taking these steps and whether the Company will need additional financing to accomplish them.

    The financial statements are an important part of this Form C and should be reviewed in their entirety. The financial statements of the Company are attached hereto as Exhibit B.

    Market Landscape

    Worldwide sales engagement platform market to grow from 2017-2023 in USD
    Source: Aragon Research


    Increasingly, pre-purchase due diligence occurs on the Internet.

    The global market for B2C e-commerce will surpass $4 trillion by 2020 and the global market for B2B e-commerce is expected to surpass $6 Trillion by 2020.

    In many expensive or complex buying scenarios of B2C consumer goods, salespeople are still involved in the sales process.  In addition, in many B2B buying scenarios, it remains common for the involvement of salespeople.

    While the addressable market for sales is in the trillions, our obtainable market is focused on a change in the way that companies interact with digital leads.

    The lead-gen industry is a multi-billion dollar industry impacting hundreds of thousands of business and millions of salespeople. Nearly 80% of marketing leads never convert into sales. The main reason cited is a lack of nurturing the lead.

    The poor conversion performance of the lead industry is simple: inside salespeople have a hard time being available at the moment of buying intent and, moreover,  maintaining that one-to-one relationship with the customer through closing the sale.

    We are also a participant in the "Sales Enablement" sector, which is approaching $2 billion today and expected to surpass $5 billion by 2023.

    Here's a select list of immediate and adjacent competitors. We are unaware of any of these companies focusing exclusively on curating effective presentment of salespeople at the moment of buyer expression of purchasing intent and offering consumers a choice in salesperson selection: Amazon, Salesforce, LivePerson, Intercom, Slack, Clearslide,  LinkedIn.

    Risks and Disclosures

    The development and commercialization of the Company’s products and services are highly competitive. It faces competition with respect to any products and services that it may seek to develop or commercialize in the future. Its competitors include major companies worldwide. The sales enablement market is an emerging industry where new competitors are entering the market frequently. Many of the Company’s competitors have significantly greater financial, technical and human resources and may have superior expertise in research and development and marketing approved services and thus may be better equipped than the Company to develop and commercialize services. These competitors also compete with the Company in recruiting and retaining qualified personnel and acquiring technologies. Smaller or early stage companies may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies. Accordingly, the Company’s competitors may commercialize products more rapidly or effectively than the Company is able to, which would adversely affect its competitive position, the likelihood that its services will achieve initial market acceptance and its ability to generate meaningful additional revenues from its products and services.

    The Company’s business model is likely to be capital intensive. The amount of capital the Company is attempting to raise in this Offering is not enough to sustain the Company’s current business plan. In order to achieve the Company’s near and long-term goals, the Company will need to procure funds in addition to the amount raised in the Offering. There is no guarantee the Company will be able to raise such funds on acceptable terms or at all. If the Company are not able to raise sufficient capital in the future, it will not be able to execute its business plan, its continued operations will be in jeopardy and it may be forced to cease operations and sell or otherwise transfer all or substantially all of its remaining assets, which could cause a Purchaser to lose all or a portion of his or her investment.

    The Company forecasts project aggressive growth. If its assumptions are wrong, and its projections regarding market penetration are too aggressive, its financial projections may overstate its viability. In addition, the forward-looking statements are only predictions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

    The Company may be unable to maintain, promote, and grow its brand through marketing and communications strategies. It may prove difficult for Engage, Inc. to dramatically increase the number of customers that they serve or to establish itself as a well-known brand in the competitive sales software space. Additionally, the product may be in a market where customers will not have brand loyalty.

    The Company may not be successful in obtaining issued patents. The Company's success depends significantly on their ability to obtain, maintain and protect their proprietary rights to the technologies used in their services. The Company currently has one open filed patent application. Filing a provisional patent application only indicates that they are pursuing protection, but the scope of protection, or whether a patent will even be granted, is still undetermined. The Company is not currently protected from their competitors. Moreover, any patents issued to them may be challenged, invalidated, found unenforceable or circumvented in the future. Any intellectual enforcement efforts the Company seeks to undertake, including litigation, could be time-consuming and expensive and could divert management’s attention.

    The Company is targeting a new and unproven segment within the sales software and sales enablement markets, which introduces unknowns, such as potential downward impacts to expected attach rates, retention rates, and customer adoption. The Company may struggle to increase their unit sales if competition is vying for the same customer and/or able to provide a similar or better service at a similar or better price. The Company may also not have accurately forecast demand for its product in this market segment. Engage, Inc.’s success is dependent on consumer and commercial adoption of the Salesfolks technology. There is not yet an established, quantifiable market for real-time/live sales adoption. This market may be further limited by chatbots and other automated vs. human sales interaction options.

    The use of individually identifiable data by our business, our business associates and third parties is regulated at the state, federal and international levels. Costs associated with information security – such as investment in technology, the costs of compliance with consumer protection laws and costs resulting from consumer fraud – could cause our business and results of operations to suffer materially. Additionally, the success of our online operations depends upon the secure transmission of confidential information over public networks. The intentional or negligent actions of employees, business associates or third parties may undermine our security measures. As a result, unauthorized parties may obtain access to our data systems and misappropriate confidential data. There can be no assurance that advances in computer capabilities, new discoveries in the field of cryptography or other developments will prevent the compromise of our processing capabilities and personal data. If any such compromise of our security or the security of information residing with our business associates or third parties were to occur, it could have a material adverse effect on our reputation, operating results and financial condition. Any compromise of our data security may materially increase the costs we incur to protect against such breaches and could subject us to additional legal risk.

    Governmental regulation and associated legal uncertainties of their customers may adversely affect the Company’s business. Many of the customers that the Company serves are regulated by federal and state governments, and its ability to provide these services is and will continue to be affected by government regulations. The implementation of unfavorable regulations or unfavorable interpretations of existing regulations by courts or regulatory bodies could require the Company to incur compliance costs, cause the development of the affected markets to become impractical and otherwise have a material adverse effect on the business, results of operations and financial condition. In addition, its business strategy involves expansion into regions around the world, many of which have different legislation, regulatory environments, tax laws and levels of political stability. Compliance with foreign legal, regulatory or tax requirements will place demands on the Company’s time and resources, and it may nonetheless experience unforeseen and potentially adverse legal, regulatory or tax consequences.

    The Company does not have an employment contract in place with key employees. Employment agreements typically provide protections to the Company in the event of the employee’s departure, specifically addressing who is entitled to any intellectual property created or developed by those employees in the course of their employment and covering topics such as non-competition and non-solicitation. As a result, if they were to leave the Company, the Company might not have any ability to prevent their direct competition, or have any legal right to intellectual property created during their employment. There is no guarantee that an employment agreement will be entered into.

    Not all of the founders or key employees are currently working full time for the Company. As a result, certain of the Company's employees, officers, directors or consultants may not devote all of their time to the business, and may from time to time serve as employees, officers, directors and consultants of other companies. These other companies may have interests in conflict with the Company.

    The Company has outstanding related party liabilities. At December 31, 2018 and 2017, the Company owed $39,532 to stockholders of the Company for consulting services provided to the Company.

    General Risks and Disclosures

    Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.

    Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when the company either lists their shares on an exchange, is acquired, or goes bankrupt.

    The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.

    Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.

    You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events through continuing disclosure that you can use to evaluate the status of your investment.

    Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company's employees, including its management. You should carefully review any disclosure regarding the company's use of proceeds.

    Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.

    Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company's board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.

    Representatives of SI Securities, LLC are affiliated with SI Advisors, LLC (“SI Advisors”). SI Advisors is an exempt investment advisor that acts as the General Partner of SI Selections Fund I, L.P. (“SI Selections Fund”). SI Selections Fund is an early stage venture capital fund owned by third-party investors. From time to time, SI Selections Fund may invest in offerings made available on the SeedInvest platform, including this offering. Investments made by SI Selections Fund may be counted towards the total funds raised necessary to reach the minimum funding target as disclosed in the applicable offering materials.

    Salesfolks's Form C

    The Form C is a document the company must file with the Securities and Exchange Commission, which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Download Salesfolks's  Form C

    Frequently Asked Questions

    About Side by Side Offerings
    What is Side by Side?

    A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.


    What is a Form C?

    The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.


    What is Rule 506(c) under Regulation D?

    Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.


    What is Reg CF?

    Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $1 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive securities, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.


    Making an Investment in Salesfolks
    How does investing work?

    When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Salesfolks. Once Salesfolks accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Salesfolks in exchange for your securities. At that point, you will be a proud owner in Salesfolks.


    What will I need to complete my investment?

    To make an investment, you will need the following information readily available:

    1. Personal information such as your current address and phone number
    2. Employment and employer information
    3. Net worth and income information
    4. Social Security Number or passport
    5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

    If you are investing under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


    How much can I invest?

    An investor is limited in the amount that he or she may invest in a Reg CF offering during any 12-month period:

    • If either the annual income or the net worth of the investor is less than $100,000, the investor is limited to the greater of $2,000 or 5% of the lesser of his or her annual income or net worth.
    • If the annual income and net worth of the investor are both greater than $100,000, the investor is limited to 10% of the lesser of his or her annual income or net worth, to a maximum of $100,000.

    Separately, Salesfolks has set a minimum investment amount of US $1,000.

    Accredited investors investing $20,000 or over do not have investment limits.


    After My Investment
    What is my ongoing relationship with the Issuer?

    You are a partial owner of the company, you do own securities after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.

    In certain circumstances a company may terminate its ongoing reporting requirement if:

    1. The company becomes a fully-reporting registrant with the SEC
    2. The company has filed at least one annual report, but has no more than 300 shareholders of record
    3. The company has filed at least three annual reports, and has no more than $10 million in assets
    4. The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
    5. The company ceases to do business

    However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.


    How can I sell my securities in the future?

    Currently there is no market or liquidity for these securities. Right now Salesfolks does not plan to list these securities on a national exchange or another secondary market. At some point Salesfolks may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Salesfolks either lists their securities on an exchange, is acquired, or goes bankrupt.


    How do I keep track of this investment?

    You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.


    Other General Questions
    What is this page about?

    This is Salesfolks's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the Salesfolks's Form C. The Form C includes important details about Salesfolks's fundraise that you should review before investing.


    How can I (or the company) cancel my investment under Regulation CF?

    For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours before a closing occurs or an earlier date set by the company. You will be sent a reminder notification approximately five days before the closing or set date giving you an opportunity to cancel your investment if you had not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your securities have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your portfolio page


    What if I change my mind about investing?

    If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page.