Financing
$3M to turn four deployed programs into a repeatable product business
Steer is raising $3M to convert its live operating base and four deployed programs into 5–8 production financial products. The objective is not simply to add deployments; it is to prove that later launches reuse more of the same policy, integration, operating, and distribution system.
The round is structured as a SAFE with a token warrant. Valuation, capitalization, detailed warrant terms, investor rights, allocation, approvals, and closing materials remain in the controlled financing workstream.
Management estimates approximately 5.5–6 months of base operating runway as of July 2026, excluding financing proceeds and unsigned commercial opportunities. Steer is negotiating approximately 5–6 commercial contracts representing roughly $360K of potential revenue; at a burn rate below $55K per month, that pipeline would represent roughly six months of operating coverage if executed and collected on the expected schedule. This contingent extension is excluded from base runway and remains subject to finance review.
Use of proceeds
| Workstream | Use of capital | Intended result |
|---|---|---|
| Product and protocol | Complete the shared issuance system, product configuration, and reusable launch modules | Production-ready product inventory |
| Matador and security | Extend path coverage, tests, independent review, release controls, and production assurance | Auditable policy enforcement across approved products |
| Operations and infrastructure | Improve provisioning, monitoring, reliability, reporting, and lifecycle automation | Lower operating effort per launch |
| Commercial and distribution | Convert current programs, add distribution routes, and support repeat customer expansion | Funded and billing product launches |
| Team and working capital | Add execution capacity and maintain operating runway through the productization period | 24–36 month execution plan |
The detailed use-of-proceeds model assigns amount, timing, owner, hiring, and milestone to each workstream and is available under NDA.
Execution plan
| Window | Primary objective | Evidence of progress |
|---|---|---|
| First 12 months | Harden the shared product, Matador, deployment, and operating path | Production releases, completed assurance work, and current programs advancing through launch gates |
| Months 12–24 | Convert current programs into funded, billing products | Activated products, live capital or usage, invoices, and repeatable operating records |
| Months 24–36 | Expand the product inventory and demonstrate reuse | 5–8 production products, shorter launch cycles, improved delivery effort, and recurring product revenue |
The underwriting case at the end of the round
- Production: Steer can turn deployed programs into governed, repeatable production products.
- Control: Matador can demonstrate tested policy coverage through real allowed and reverted actions on production paths.
- Conversion: Product launches can become funded, billable customer relationships under defined commercial terms.
- Reuse: Later launches can reuse integrations, policies, operating processes, and distribution connectors.
- Economics: Product revenue and contribution margin can improve as launch time and incremental delivery work decline.
Financing materials
| Material | Access | Availability |
|---|---|---|
| Round overview and execution plan | Link access | Investment rationale; execution plan |
| Detailed use-of-proceeds and operating model | NDA | Use of proceeds; forecast and runway; detailed model available under NDA |
| Fully diluted capitalization and financing history | Restricted | Available to qualified investors on request |
| Current SAFE, token warrant, and detailed investor rights | Restricted | Definitive documents available to qualified investors on request |
| Corporate approvals and closing materials | Restricted | Available during legal and closing diligence |
Qualified investors may request NDA and restricted financing materials through their Steer contact.