Mont Hanley’s Net Worth in 2021

Mont Hanley has an impressive net worth that may surprise you. He is the founder of the PittMoss brand of peat moss. Handely, the founder of PittMoss, has been an expert in peat moss and global warming. Handley was looking to raise $600,000 for a 25% stake in the company. However, the deal was less than half of that amount, so his total net worth will be closer to $3 million. As a result, his company is still in operation, offering an alternative to peat moss.

PitMoss recently raised $1.2 million from Angel Investor Groups and Mark Cuban for 40% of the company. In addition, the eco-friendly potting soil firm is looking to expand through crowd-sourcing. Its backorders are approaching $600,000. The company is currently developing ways to keep up with demand and increase its net worth. In the meantime, investors can look forward to PitMoss’ continued growth.

The Pittsburgh-based company founded by Mont Handley in 1994 is on the verge of raising $4.45 million in seed capital through an equity crowd-investing campaign on the crowdfunding platform Republic. In November 2021, PittMoss is expected to generate $3 million in annual revenue. Its primary competitors include Sun Gro, Growstone, and PRO-MIX. In its Shark Tank pitch, PittMoss was valued at $2.4 million, but after receiving seed money from three Sharks, its net worth grew to almost $1.7 million.

The current growth of PittMoss is directly tied to its appearance on Shark Tank. Before launching PittMoss to retail customers, it sold its products only to commercial growers. This growth, however, was only possible when the company announced its products for retail sale. PittMoss was so successful because it developed a product unlike other beddings on the market. Its net worth will more than double once the company has surpassed $1 million in sales.

Mont Hanley started with the startup after reading an article in Sierra magazine about the dangers of peat moss. Eventually, he made his own version of PitMoss and developed the recipe for the product in his own kitchen. He was able to sell his first batch in two months and liquidate his retirement savings to pursue his dreams. Today, his net worth is estimated to grow to $22 million by 2021.

Despite the recent growth in sales, PittMoss continues to be an innovative company. Made from recycled paper, PittMoss has a positive social, environmental, and financial impact. Moreover, the company also diverts paper waste from landfills. Despite being a small startup, PittMoss is a triple-bottom-line company that has achieved global recognition. Founded in 2014, the company has grown by 41% in the past year and is currently in talks with three nonprofits in California to expand.

Besides being environmentally friendly, PittMoss is a great product that substitutes peat bogs. In fact, PittMoss is made from recycled paper and organic additives. This makes for a stronger plant than its peat-based counterpart. Commercial growers in the Eastern United States can purchase PittMoss for their greenhouses. Eventually, Handley is likely to expand into retail, and is probably looking for a Shark to develop its distribution network.