Doriot

Cover Block

Name	Doriot
Tagline	Gamified platform for discovering and backing emerging startup founders through options-style investments.
Headquarters	Bloomington, United States
Founded	2020
Stage	Pre-Seed
Business Model	B2C
Industry	Fintech
Technology	Software (Non-AI)
Geography	North America
Growth Profile	Venture Scale
Founding Team	Solo Founder
Funding Label	Undisclosed

Links

• Website: https://www.doriot.com/
• LinkedIn: https://www.linkedin.com/company/doriot-markets-llc/
• X / Twitter: https://twitter.com/DoriotMarkets

Summary and Signal

Doriot is building a gamified, options-based platform to open early-stage startup investing to a retail audience. The company's core mechanism, VentureStaking®, allows participants to purchase rights, not equity, for as little as $10, securing an option to invest a larger amount in a future funding round [Doriot, retrieved 2024]. This positions Doriot as infrastructure for a new kind of venture market, distinct from traditional crowdfunding or angel syndicates, by focusing on the discovery phase with a patent-pending financial model [Work at Home Rockstar Podcast, retrieved 2026].

The company was founded in 2020 by Gerry Hays, a serial entrepreneur and finance lecturer at Indiana University's Kelley School of Business [Indiana University, retrieved 2026]. Public capitalization is light, with a single undisclosed grant from FinTech Frontier in late 2021 representing the only confirmed external funding [Crunchbase, November 2021]. The business model generates revenue from the sale of VentureStakes, while a companion simulation product, FantasyStartup®, serves as both a research engine and an educational tool with over 13,000 participants [Doriot, retrieved 2024].

Data Accuracy: YELLOW -- Core product claims are documented on the company's site, but key traction metrics and funding details lack independent verification.

Taxonomy Snapshot

Axis	Classification
Stage	Pre-Seed
Business Model	B2C
Industry / Vertical	Fintech
Technology Type	Software (Non-AI)
Geography	North America
Growth Profile	Venture Scale
Founding Team	Solo Founder
Funding	Undisclosed

Company Overview

Doriot operates as a legal entity under Doriot Markets, LLC, incorporated in 2020 and headquartered in Bloomington, Indiana [Crunchbase]. Founder Gerry Hays, a senior lecturer in finance at Indiana University’s Kelley School of Business, launched the venture to build infrastructure for game-like founder discovery [Doriot, retrieved 2024].

The company’s early development was supported by a grant from FinTech Frontier in November 2021 [Crunchbase, November 2021]. By 2024, the company reported that its FantasyStartup® simulation had attracted over 13,000 participants who collectively made more than 1.5 million investment decisions [Doriot, retrieved 2024]. Recent updates from 2026 claim the company surpassed 200,000 views across TikTok and Instagram and welcomed over 200 early adopters who purchased a VentureStake [LinkedIn, retrieved 2026].

Data Accuracy: YELLOW -- Company-sourced claims for core metrics; grant event corroborated by Crunchbase.

The Product and the Stack

The core of Doriot is a two-part system designed to lower the barrier to entry for startup investing: an educational simulation and a novel financial instrument.

The company's public-facing research and education engine is FantasyStartup®, a gamified simulation with over 13,000 participants who have collectively made 1.5 million investment decisions [Doriot, retrieved 2024]. This platform uses 50 mock companies to teach concepts like diversification and startup terminology [YouTube, February 2024].

That offering is VentureStaking®, a patent-pending financial model described as an options-style mechanism [Work at Home Rockstar Podcast]. The model allows users to purchase a VentureStake™, which is the right, but not the obligation, to invest in a future funding round of a startup. For as little as $10, a user can buy a stake that grants the option to invest 10 times that amount, or $100, if the company later raises capital [Doriot, retrieved 2024]. The model allows founders to raise small grants, typically between $25,000 and $100,000, by pitching to a community of venture stakers [Dealquest Podcast, November 2025].

Data Accuracy: YELLOW -- Core product mechanics are described on the company website and in founder interviews.

The Market They Are Entering

The market for retail access to private company equity is defined by mechanisms for lowering capital and expertise barriers. According to a report by Crowdfund Capital Advisors, the U.S. equity crowdfunding market (Regulation CF) facilitated over $1.5 billion in total capital raised for startups and small businesses from its inception through 2023 [Crowdfund Capital Advisors, 2024]. The U.S. saw over 5 million new business applications filed in 2023 [U.S. Census Bureau, 2024].

Metric	Value
U.S. Equity Crowdfunding (Reg CF) Total Capital	1.5 $B
U.S. New Business Applications (2023)	5.0 Million

Data Accuracy: YELLOW -- Market sizing is drawn from analogous, credible third-party reports.

The Competitive Field

Doriot’s competitive position is defined by its attempt to insert a low-dollar, option-based layer into the early-stage investment stack.

Company	Positioning	Stage / Funding	Notable Differentiator
Doriot	Gamified platform for discovering and backing founders via options-style "VentureStakes."	Pre-Seed; undisclosed grant funding.	Patent-pending option model; educational simulation layer.
Wefunder	Equity crowdfunding platform enabling direct investments in startups.	Venture-backed; $58M+ total funding.	Large, established investor community.
Republic	Online investment platform for private equity, crypto, and real estate.	Venture-backed; $150M+ total funding.	Broad asset class coverage.
StartEngine	Equity crowdfunding platform and secondary marketplace.	Venture-backed; $60M+ total funding.	Integrated primary and secondary market functionality.

Data Accuracy: YELLOW -- Competitor profiles and Doriot's positioning are confirmed by primary sources and Crunchbase.

Opportunity

If Doriot successfully scales its VentureStaking model, it could unlock a new, retail-sized segment of the early-stage capital markets. The core mechanic addresses retail investors' desire for exposure to early-stage companies without the immediate capital outlay or complexity of direct equity ownership.

Data Accuracy: YELLOW -- The opportunity analysis is based on the company's stated model and founder background.

Sources

1. [Doriot, retrieved 2024] About - Doriot | https://www.doriot.com/about
2. [Work at Home Rockstar Podcast, retrieved 2026] Building a More Inclusive Future for Startup Investing with Gerry Hays - Work @ Home RockStar | https://workathomerockstar.com/gerry-hays/
3. [Crunchbase, November 2021] Doriot - Crunchbase Company Profile & Funding | https://www.crunchbase.com/organization/doriot
4. [YouTube, February 2024] Inside Startup Investing Ep 47 Doriot Founder Gerry Hays | https://www.youtube.com/watch?v=yxqwxTVEEt0
5. [LinkedIn, retrieved 2026] Shivan Golechha - Growth at Stealth Startup | UGC Creator - LinkedIn | https://www.linkedin.com/in/shivangolechha
6. [Dealquest Podcast, November 2025] Democratizing Venture Capital Through VentureStaking with Gerry Hays | https://www.coreykupfer.com/blog/gerryhays
7. [Indiana University, retrieved 2026] Gerry A Hays, JD | Faculty Directory | Indiana Kelley | https://kelley.iu.edu/faculty-research/faculty-directory/profile.html?id=GAHAYS
8. [Crowdfund Capital Advisors, 2024] U.S. Equity Crowdfunding Market Report | https://www.crowdfundcapitaladvisors.com/research-reports/
9. [PitchBook, 2023] Global Private Market Fundraising Report | https://pitchbook.com/news/reports
10. [FINRA, 2023] Investor Education Foundation National Financial Capability Study | https://www.finrafoundation.org/sites/finrafoundation/files/nfcs-2023-report.pdf
11. [U.S. Census Bureau, 2024] Business Formation Statistics | https://www.census.gov/econ/bfs/index.html
12. [SEC, 2024] SEC.gov | Regulation Crowdfunding | https://www.sec.gov/smallbusiness/exemptofferings/regcrowdfunding
13. [Allied Market Research, 2023] Equity Crowdfunding Market Size, Share, Competitive Landscape and Trend Analysis Report | https://www.alliedmarketresearch.com/equity-crowdfunding-market
14. [Republic] Republic: Invest in Startups, Crypto, Real Estate | https://republic.com/