Detroit-based phone app SSSSssss – which connects people who want to flatten someone’s tires with people who are willing to flatten them – has closed on $3.5 billion in pre-seed funding from venture capitalist Millsap’s VC of Cartaret, New Jersey.
SSSSssss founder and CEO Jennifer Spitzlin says her group had originally sought $5.2 billion, but will make due with what they’re getting.
“It may limit the number of cities we can launch in,” she says, “but we have to acknowledge that there are more service apps than ever competing for available VC dollars.”
Though SSSSssss has not earned any revenue to date, Spitzlin expects it will begin netting at least $18,000 annually as soon as 2025.
“Our research shows that the number of people per 250,000 who want to have someone’s tires flattened will increase between 13 to 18 percent over the next ten years,” she says. “And the number of people willing to flatten them will increase at a rate that’s slightly higher.”
Ted Markowits, CEO of the Millsap’s, says he has great faith in Spitzlin and her team: “They saw a growing need, developed a solution, and thanks to them nobody should ever again have to personally flatten someone else’s tire unless they truly want to.”
