Deal Abstract

Invest in DOJO+: Empowering Martial Arts schools around the world to fight in the business world. | Wefunder
Empowering Martial Arts schools around the world to fight in the business world.

B2B2C SaaS company for martial art schools and students. Has a product and modest revenue, but is the market venture backable?

Financials (VRB)

Question Notes
1. Fundraising Target? $50000
2. Fundraised So Far? $13501
3. Pre-Money Valuation? $2500000
4. Previous Year's Annual Revenue $2250
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-2883.47

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? False: Miami, FL
2. Has at least 2 founders? False: Two
3. Has product in the market? True: Revenue generating
4. 6 months of continuous user growth or 6 months of revenue? True: Revenue increased from 2019 to 2020
5. Notable investors? False: No one I recognize
6. Post-funding, will have 18 months of runway? True: Low burn

The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)

Question Score Notes
1. Engineering? 2 Pretty and specialized for martial arts
2. Timing? 2 Digital transformation applied to martial arts
3. Monopoly? 3 Good number of users, but low revenue
4. People? 2 Founder is a product designer and has built the process
5. Distribution? 2 Got to 4k martial art schools and 18k users, so decent distribution
6. Durability? 3 If can be built, essentially a CRM/POS/all in one business management SaaS for martial arts
7. Secret? 2 Martial arts is growing, the managers of these businesses are looking for digital transformation to revitalize their businesses

What has to go right for the startup to return money on investment:

1. Drive more consistent revenue; 2. Understand who are the new proprietors of martial arts school; 3. Build a platform, when does Dojoplus start hosting nationwide competitions?

What the Risks Are

1. Thin market that doesn't have a high willingness to pay; 2. Unlike Yoga or Crossfit, I don't see any adults starting martial arts; 3. Good product bad market

Bonus Muhan's Notes

Very cool, given that I was introduced to the company through a warm intro.


This is where I’ll post updates about the company. This way all my notes from offering to post-offering updates will be on one page.

Review these deal memos every time the startup raises a new round

Test if original thesis still applies

So, did I invest?

Click here to find out.

Other thoughts, questions, comments, or concerns? Write me at and let me know.