PittMoss, an eco-friendly potting soil company, has recently received significant funding. The Sharks have embraced PittMoss and are reportedly investing more than $4.45 million in the company. Funding comes from a variety of sources including Mark Cuban and Angel Investor Groups. The founder of PittMoss is based in Pittsburg, California. His net worth is currently under wraps, but his net worth will likely continue to grow as the company expands its product line and gains additional investors.
After several months of raising $1.5 million in financing, Mark Hanley signed the final investment agreement. He joined the team of Pittsburgh angel investors and brought another 1.5 million to the table. The final investment deal was made and Mark joined the Pittsburgh company, contributing another $1.5 million. Mark’s investment has allowed Pittmoss to build a backlog of over $600,000 in orders. His business has since expanded to other markets and is expected to reach over $3 million in sales by the end of the year.
In November 20, PittMoss reported total assets of $897,291 and short-term debt of $344,574. In total, PittMoss is forecasting revenue of $3 million in 2025 and has raised more than $237,011 from equity crowd-investing website Republic. The company is currently putting four-two percent of its funding toward sales reps, while forty-five percent will go to marketing and public relations.
In 1994, Mont Handley founded PittMoss, a natural potting soil that is made from recycled paper. During the next two decades, he perfected the formula and eventually pitched it to the Sharks on TV. With this cash, PitMoss has grown to national and international distribution. And it is likely that Handley will seek funding from a Shark to expand its distribution channels. If the venture is successful, the company could reach the pinnacle of success.
Mont Hanley built up Pittmoss’ $13,1K net worth by selling peat moss to customers around the world. The business has received interest from several investors, including Shark Tank investors. The company has received more than $14 million in funding, with 14 investors so far. Pittmoss also has a growing list of supporters. If you are interested in the company and its products, be sure to visit its website and check out its current funding status.
The company’s growth has been fueled by a growing number of customers. It has received investment from Sharks and expects to close at least $1 million in sales this year. PittMoss has partnered with nonprofit DTCare and is in talks with three organizations in California. The company also has a long list of potential acquisition/partner candidates that it is currently in discussions with. And with its technology proving so useful, PittMoss’ net worth continues to grow.
Mont Hanley created his company, Pittmoss, in his kitchen. He was just 12 years old when he started the business. He was a college student at the time and worked for a local nursery after graduating. Mont subsequently became interested in the product after reading an article in Sierra magazine, which detailed the harsh effects of peat moss on plants. Eventually, he created his first batch of Pittmoss with a food processor. In seven months, he said he had made $22,000!