INVESTORS · USE OF FUNDS
A Pre-Seed sized to turn beta into state contracts.
Round target: $2M. Horizon: 24 months, H2 2026 through H2 2028. Output: beta launched, a first state LOI, a first pilot contract live, a seated Trust Advisory Board, and the milestones that unlock a Seed.
$2M
Pre-Seed target
Roughly $2M turns beta into state contracts. Priced round, PBC common stock with a Mission Trust equity stake.
24MO
Runway
H2 2026 to H2 2028. Milestones: beta launched Sep 2026 → first state LOI H1 2027 → first pilot contract live 2028.
5
Priority states
Massachusetts, New York, New Mexico, Pennsylvania, Michigan, one anchor-state pilot live, one signed LOI.
3
Initial TAB seats
Trust Advisory Board seated by month 6 post-close. Charter range: 3–5 members.
Allocation
Four lines, deployed over 24 months. The go-to-market share is deliberately the largest: the product is built and its beta is open, so the round buys the trust channel, the procurement motion, and the compliance posture that state contracts require.
| Category | Allocation | Share |
|---|---|---|
| State procurement motion | ~$600K | 30% |
| Compliance runway | ~$500K | 25% |
| Product & integrations | ~$500K | 25% |
| Local trust & beta operations | ~$400K | 20% |
| Total | $2,000K | 100% |
Figures are approximate. Founder-led, with development staffed and the build team scoped to the raise.
What each line funds
- State procurement motion. A GTM lead plus pilot delivery for Massachusetts, New York, New Mexico, and Maryland (DoIT). RFP responses and reference-building. Validated cost: $300–750K per state for the first three states.
- Compliance runway. SOC 2 Type II → HITRUST e1 → FedRAMP preparation. Compliance is both moat and gate; FedRAMP opens federal revenue from 2029.
- Product & integrations. Consent API hardening, eligibility-engine accuracy, and state-system connectors, plus the 2027 agent-authorization spec that seeds the consent-engine line.
- Local trust & beta operations. The Local Partner network across the DMV, then NYC, Boston, and New Mexico: onboarding, navigator training, and beta operations. The trust channel competitors cannot buy.
What this round does not do
- It does not build Oasis. Oasis is the Series A → Series B story (Phase 3, 2028–2030).
- It does not buy traditional growth marketing. Member acquisition is partner-mediated; we are not paying for installs.
- It does not buy a sales team. The procurement-side conversations are founder-led through Series A.
- It does not gold-plate the governance. The Charter, Trust, and TAB are built for legibility, not for theater.
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