Groundbreaker manages the lifecycle of an Offering in an Offering Pipeline:
Draft
Teaser (also called Reservation)
Fundraising (also called Commitment)
Operating
Realized
Completed
The Pipeline Stage determines how the Offering is presented to investors on the Investor Portal and manages its availability for offers and status for distribution payments. As the deal progresses from creation to completion, the Offering moves through the stages of the Offering Pipeline.
You are not required to take each Offering through all stages, nor are you required to progress one stage at a time. The stages, and the functionality associated with each one, are provided to help you manage how the Offering is displayed to your investors.
Viewing the Offering Pipeline Stages
The Offering Pipeline Stage is displayed for each active offering when you display a list of offerings.
=> Select Menu from the Home Dashboard
=> Select Offerings

All draft, teaser, fundraising, operating, and realized offerings are shown under active offerings and you can easily determine the status of your Offerings from this display. Completed and inactive offerings are shown separately below your active offerings.

You will also see the pipeline stage at the top of every Offering page display.
As the Offering moves through the pipeline, the current stage is identified to give you a visual display of where your Offering is in its lifecycle.
Offering Pipeline Stages Explained
Draft
All Offerings are in the Draft stage as soon as they are created. This stage is where the Offering is edited and finalized prior to publishing. Offerings in this stage are NOT visible to your investors via their investor portal.
In this stage, you will:
Prepare your Offering Data Room
Prepare your Subscription inside the Offering's Investment Entity
Set your Offering Settings
Teaser (Reservation)
When you select Reservation when you defined the Stage and parameters for your offering, the offering will be classified as a 'Teaser' when you publish it.
The Teaser stage is optional and is typically used when sponsors want to generate awareness and gauge the amount of interest in an Offering before committing to the opportunity. In the Teaser stage, the Offering is shown to your investors, but it is only open to take reservations - not commitments.
You can see interested investors by selecting Prospects from the Offering overview page.
In this stage, your Investors will be able to:
See your potential opportunities
Mark themselves as interested
You will:
Make the Offering visible
Identify prospects interested in the Offering
When you have determined that you will move forward with the Offering, click on Data Room or Settings and move to Stage and Parameters where you can change the stage from Reservation to Commitment.
Fundraising (Commitment)
When you select Commitment as you define the Stage and parameters for your published offering, you are opening the offering to receive offers from investors and are actively raising funds.
The Offering is presented to your prospects, identified as open for fundraising, and available for offers and commitments. Most of the activity related to your Offering occurs in the Fundraising stage.
In this stage, your Investors will be able to:
Submit offers
Sign agreements
Send funds
Throughout this stage, you will:
Receive offers
Receive and countersign agreements
Receive contribution payments
Mark payments as received (when they are sent via Wire or Check)
Once the Offering is fully funded, you can move the offering to the final stage.
Operating
The Operating stage is used for Offerings that are fully funded and under contract.
In this stage, your investors will
See all investment details and cash flow related to the Offering
You will
Manage distributions to your investors
Provide investors with tax documents and other reports as required
The Offering will remain in this stage for as long as you own the asset. Once the asset is sold, you can click on the fifth circle in the Offering Pipeline to move to the next stage.
Realized
The Realized stage is for Offerings that you no longer manage (you sold the asset).
In this stage, your investors will
Receive final distribution payments
Receive final tax documents
You will
Manage post-close distributions to your investors
Provide final tax documents to your investors
Completed

The Completed stage is used for Offerings that are no longer actively managed. All distributions have been paid and final tax documents have been posted to your investors.
In this stage, your investors will
See all investment details and cash flow related to the Offering shown as Completed Investments
Related Materials
Support Information
If you have more questions or feedback, please use the live chat in-app (located in the bottom right corner) or contact support@groundbreaker.co.