ERA Winter 2020 Online Demo Day

good morning welcome to your a demo day I'm John Axelrod co-founder of er a we're gonna get started in just a minute but first a quick hello from our team welcome to during demo day I'm rut co-founder of fury hey I'm Emily hi I'm Jeremy hi I'm Karen hey this is Sharon hi I'm Brian hi I'm Nina hi i'm cherylin it's a different kind of demo day for all of us here to ouray today thank you for joining us to support startups in entrepreneurship for those of you who are used to seeing a New York demo days welcome back it's great to have you here as always and for those of you joining us for the first time from the country and around the world or pleased to have you we think that each and every one of you is going to find at least one company this morning you're gonna be excited to be investing into we're gonna keep this introduction short you're not here to hear from us you're here to hear from the 13 incredible founders who are part of the er a winter 2020 cohort this group of founders and startups joins to more than 200 alumni companies VR a Prudential on demo dates before them and collectively this grouping is serving and disrupting just about every industry and impacting every corner of technology to state the obvious the world has changed a lot over the past several months the one thing that we think hasn't changed and believe is more true today than ever is the importance of startups and the power the entrepreneurial spirit we believe startups like the ones you're about to hear from this morning are gonna be core to driving the economic recovery both in New York and around the world these 13 founders have made tremendous progress in the last five months despite the headwinds that we all know have been out there they've been adaptable they have been resilient they've actually accelerated their companies there are group of disruptors betting on change but also making life better for those around them not me employers make employee health care more accessible - making parental leave more accessible to many more folks for making that last mile package delivery on demand happen more efficiently - making online scheduling of meetings happen just better for everyone they're creating tomorrow's future today over the past few months we've been awed by the a community and I was come together to help well one another mentors friends alumni and startups alike have come together on your daily basis to help each other with hundreds of problems they have literally dropped everything to try to create a support network for each other and collectively it's been remarkable to watch it's exactly the kind of network and Keaney we hope to start when we created yaar a 10 years ago and the community coming together has really been inspiring to all of us but the community coming together for each other has just been a small part of it well it's been most important they're watching how that communities come together to try to help the broader world at large from companies that have helped to create food and deliver food services to those first responders and hospitals to me to them in New York and Washington to another company that created Network deliver PPE is to health systems who need it from a company that's created telemedicine services for Millennials in need of urgent care to another that's treated in telemedicine services for seniors in need of critical care for a company that's creating an AI chatbot to help triage kovat symptoms for major medical services to another that's created a mental health platform don't deliver mental health services to employers and employees alike they've been creating services and products that have helped so many folks and we couldn't be more proud of today we are very excited to introduce you to our teen amazing companies from our winter 2020 portfolio so these are great companies building extraordinary businesses and it's all of you'll agree these are the best times to invest in startups historically when you look at data the most technologically progressive decade in US history was the thirties during Great Depression and if you look at the data from the last four years the best time to invest in startups was during 2008 financial crisis companies like uber Dropbox Airbnb Pinterest Spotify they raise their first rounds during the financial crisis and today these companies are worth more than 200 million dollars some very lucky early Messrs in that picture and in that same context we are very excited to introduce you today 13 amazing investment opportunities but none of this would have been possible without our amazing sponsors who have always been with us who have always been supporting us thank you to our sponsors and of course our network of amazing 500 plus mentors that kept meeting with our companies that kept helping our companies and that kept working with our companies to make their businesses better even in these difficult times thank you to our mentors and our lead mentors who met with their companies every week every day help them through those difficult times make sure that they adapted to the concentration and they went through this in the best possible way thank you to our lead Mentors and of course as every demo day we are very lucky to have amazing pitch coaches that work with our company is very closely to make sure that the pitches you are about to see match the companies businesses which are at a very high level today and now onto the show here's our first lead mature to present the first companies hi I'm Beth temple venture partner at ara and the lead mentor for undock do you know anyone who loves to schedule meetings me neither until I met undock for the facts here comes Nash founder of on duck the way we work has drastically changed overnight it's always been hard to schedule a meeting but now you can't even drop by someone's desk getting time with your own team feels as challenging as meeting with someone at another company or another continent it's time for a fundamentally different approach undock helps people instantly find time to meet without ever looking at a calendar it's why we have a thousand people on our wait list from companies like stripe LinkedIn Robin Hood and over 30 VC firms they're tired of the endless back and forth emails and playing calendar tag we've been going about this all wrong I'm Nash CEO and co-founder of undock welcome to predictive scheduling predictive scheduling works like autocomplete say you're arranging a meeting an email as you're typing undock suggests mutually preferred meeting times instantly these predictions take into account what we know about you your availability your preferences and your scheduling behavior we compare this with everyone else on the email it doesn't matter if they work at another company or they're on Microsoft and you're on Gmail we can even make predictions if the other person doesn't have undock it works like magic and it's always learning to read dates to read intent it's even learning to read any calendar page will do the work for you without you ever leaving your inbox and we do this without giving up privacy or control this is incredibly hard but with our patent-pending AI we've cracked the code it's a breakthrough in tech methodology and user experience and it's working our power users creates 70% of their meetings with undock and use it every single day even before the obvious network effects this speaks to the speed and efficiency of undock take Zoey arranging meetings between our global team contractors and clients would take days so she decided to try undock and now she schedules in a matter of seconds within one week thirteen of her co-workers joined and she continues to make referrals to her network we provide value they provide by reality and this is just the beginning undock is going to own the calendar and everything around meetings we've already enabled a collaborative agenda and note-taking capabilities that overlays on any conferencing platform so imagine all of your meetings masterfully curated by predictive scheduling we're penetrating this market with our free predictive scheduling engine we charge ten to fifty dollars per user per month for a premium scheduling documentation and conferencing and we know how to monetize from our legacy voice and conferencing offerings we have two hundred and thirty thousand an annual recurring revenue and today we're officially launching our new meeting platform at undock comm the timing is right and the opportunity is huge companies spend twenty billion dollars a year to have meetings and it shouldn't surprise you that since Kovac online meetings are up two thousand percent my team and I were already building undock to manage meetings for a hybrid of in-office and remote work I'm a developer and designer who's built multiple telecom businesses grossing over twenty five million in revenue my co-founder David spent six years at Zynga and brings their data-driven approach to growth virality and performance marketing and along with our VP of engineering my college roommate and four other world class engineers we've built a 10x better meeting experience directly into your workflow so if you feel stuck fiddling with a bunch of tools to schedule host and document a single meeting we'd love for you to join us at undock on our mission to coordinate when work happens thank you my name is Eric McLean and I'm the lead mentor for field clicks the world doesn't stop this year we're using more bandwidth and putting more strain on the communications infrastructure than ever before here to help optimize the remote field construction industry is field clicks hi I'm Rob co-founder at Phil clicks or an enterprise SAS platform that leverages mobile technology to manage remote construction projects I'm excited to tell you why we have over 30 clients including Verizon and are already at five hundred and thirty thousand in annualized revenue the u.s. spends more than a hundred and fifty billion a year building and upgrading our communications and power infrastructure over 23,000 construction companies in the u.s. are managing this work and they mostly rely on outdated tools and manual processes just think about that the construction of leading-edge infrastructure like 5g charging stations and smart cities are being managed with whiteboards and spreadsheets let me introduce you to my co-founder Duane he used to own a wireless construction company he quickly grew from 40 to 250 employees building cell towers and 5g antennas unlike large single site construction such as commercial buildings or bridges these are high-volume short term projects typically lasting just three to seven days Duane steam was managing hundreds of these projects across seven states yet they had no visibility into what was happening in the field which represented more than 70 percent of Duane's operating costs and the stakes were high a one-day delay on any project could mean a budget overrun by up to 30% Duane wasn't alone thousands of these projects take place every day across the United States and there was no existing software designed for the unique challenges of this type of construction until now Duane and I build feel clicks to help companies like his take back control of their business we bring real-time collaboration proprietary GPS tracking and data analytics to optimize the management of remote construction with field clicks our clients can make changes to in flight projects while there's still time to make a difference to date more than 30 companies have replaced their outdated spot solutions with field clicks in the past year we've grown revenue by 200 percent to achieve over five hundred and thirty thousand and annualized revenue our clients are paying as much as sixty thousand a year on recurring monthly contracts and we've hit these milestones with no outside investment this is a proven solution field clicks has managed over fifty thousand daily deployments across 26 states we are radically changing how our clients operate their business almost immediately after deploying field clicks Marty and Jodi improved their field productivity by 30 percent and profit margins by up to 10% this means they could take on more work with existing teams and capture more margins on every project I mentioned our work with Verizon they want to be the first to nationwide 5g which is why we're helping them to play 5g more rapidly by creating integrated workflows with more than 30 subcontractors in the Northeast Wireless construction is our beachhead and we're positioned to dominate the space us wireless operators are investing more than two hundred and fifty billion to deploy 800,000 5g antennas across the u.s. and Post kovat the need for connectivity will only grow as more people work from home and this is just the start beyond the 23,000 companies building communications and power infrastructure we've identified more than 300,000 companies in the US that face the unique challenges of managing short-term construction projects this represents a multibillion-dollar market opportunity and it's growing every year Dwayne and I built a product and a team to capture this market Dwayne brings a track record starting and growing new companies I bring 20 years experience in wireless and created a 40 million dollar software services business for Capgemini felix is uniquely positioned to change the way short term construction projects are managed going forward we have proof of product we have proof of market and we're ready to scale into the size of the opportunity please reach out if you'd like to be part of this journey we look forward to speaking with you [Music] hi I'm Brian Hecht venture partner here at er a here's a situation we can probably all relate to you're talking to a colleague at work and they take a step back and after a minute they reach into their pocket and offer you a stick of gum I think we all know what that means well our next company is tackling that sensitive subject head-on with the solution that is a scientific and completely original approach to an age-old problem please welcome to me founder and CEO of mouth off hi I'm here today to talk about the seven billion dollars Americans spent and waste on fresh breath products that don't work that's a hundred million people repeatedly buying gums mints and strips that at best temporarily masks bad breath but don't eliminate it and masking it isn't sufficient once that minty flavor fades away you're still stuck with that unpleasant odor and its consequences bad breath weather morning breath coffee breath or a more serious halitosis condition is caused by sulfur compounds and no product on the market today can get rid of them until now I'm Kimmy founder of mouth off the dissolving gum that eliminates bad breath I love consumer products I worked at dam in L'Oreal and my previous business was a functional drink which sold online and in retail a couple of years ago I was consulting for a global biotech and learned of an extraordinary fresh breath ingredient they discovered since they're a b2b business they didn't know what to do with it but with my consumer experience I saw an opportunity and I jumped on it I negotiated an exclusive license and this was the beginning of mouth off with my food engineers we created a formula that acts as a delivery mechanism for the ingredient you chew it binds to deactivates and cleans away the sulfur compounds and in two minutes it's gone those other products are literally candy which is why they're sold next to the choc in the candy aisle we're fundamentally different and significantly better than those products the only mask odor for 15 minutes while we eliminate bad breath for 4 hours we have clinical research to back this up and consumer testing shows that Natha consistently removes even the strongest garlic breath we know consumers want better options our data shows 60% prefer and are ready to switch to mouth off and do two covin and everyone wearing a mask we're all becoming a little bit more aware of our own breath mouth off sauce for this to mouth off is in line with today's consumers tastes and preferences it's convenient it dissolves into minutes so there's no need to spit it out which also means it's eco friendly our gum won't create litter and it's better for you there's no sugar no artificial ingredients it's all plant-based we're on track to launch by the end of 2020 and in just one year we've hit the major milestones needed for launching a new consumer brand we secured the exclusive license for their biotech partner we created and tested full functionality of the formula and we partnered with a manufacturer in the US who is ready to start production we're ready and excited to be bringing the hundred million people effected a solution that truly works as a high frequency repeat purchase mouth off is perfect for a DTC subscription we'll offer a monthly supply of gum with a refillable pocket dispenser for on-the-go as you can see we've invested in a great brand with an edgy feel and modern packaging and data shows that our subscription model has great unit economics and we're not just relying on traditional you to see paid marketing we're also launching in retail with a two-piece pack this will generate sales and also act as a discovery engine for the subscription product and lead to full distribution and drug grocery and big-box and I'm excited to announce today that we've already secured two distribution partners a chain of dental practices and an office bathroom supplier both perfect channels where fresh breath is top of mind people have been treating bad breath this same way for decades we are revolutionising the seven billion dollar industry with a more effective and convenient product or dissolving gum and this patent-pending formula is also a better delivery vehicle to solve four other consumer health needs plaque removal is next again with the first to market exclusive ingredient with immunity and gut health to follow we're the perfect team as I mentioned earlier I've done this before I developed brands for some of the largest food and cosmetics companies in the world Ola my CEO o is a two-time founder and an expert in e-commerce and logistics and my biotech partner there a leader in bio innovation and their technology generates over 10 billion dollars in annual revenue we'd love to have you join us in building a great brand solving for a widespread problem with a proven scientific approach so join us in vanquishing bad breath once and for all [Music] you [Music] you hi I'm Joe teitelbaum er a alum mentor and lt in March our world changed in addition to social distancing and facemasks demand for deliveries exploded please meet Nick CEO and co-founder of halo 5 halo 5 is created a virtual fleet for the last mile delivery of just about everything hi i'm nick co-founder and CEO at halo 5 where we help companies deliver packages faster and cheaper using underutilized on-demand drivers we've already started delivering packages from customers that fulfill over 100 million orders per year now on-demand deliveries were already blooming and kovat has only accelerated just last week eighty percent of you probably had something delivered to your house companies that were struggling to keep up with on-demand deliveries prior to the crisis or having even tougher time fulfilling orders you'd think the solution would be to simply hire more drivers but building and maintaining a fleet is expensive and difficult at the same time there are millions of on-demand drivers working for companies like uber and lyft that spend up to 50% of their time on the road unutilized I first realized this driving for uber lyft beyond Juno to help pay my way through medical school I was sit in a parking lot and wait 30 minutes or more between jobs several times a day so there's this huge mismatch between companies that desperately need packages delivered and the three million on-demand drivers ready to deliver them we created halo fight to solve this problem our technology gives companies the ability to seamlessly tap into a drivers unutilized time and fill it with the deliveries that they need done we do this through a mobile app that integrates with the drivers existing driver apps identifies when they are available and sends them jobs from our delivery partners the beauty of our solution is that we are able to scale our delivery infrastructure rapidly and cost efficient since uber and lyft have already done the heavy lifting of building these networks of drivers and anyone can tap into our virtual sleep big-box retailers consumer facing apps even local courier services so it's a win-win companies get their deliveries done faster and cheaper and drivers get more jobs and of course that means more money and again it's working the value is so compelling we've closed every company we've demoed for companies up and running and we've got fifteen more delivery partners ready to integrate and the drivers are just as excited we've got over 5,000 signed up and four hundred are already on boarded actively delivering orders with a scalable business model we make money by taking twenty percent of the delivery fee and with more and more deliveries being completed every single day we're ready to scale even faster now I'm not just a former med student who drove for uber on the side I ran one of the largest free clinics in the United States and founded a successful nonprofit organization for diabetes research my co-founder James founded and has been part of numerous early-stage startups in New York and Silicon Valley the on-demand revolution is here it's already changed the way people get to their destinations and with halo Phi we're gonna change the way packages get to their destinations join us as we create the next generation of on-demand delivery [Music] hi I'm Krista Brian lead mentor for Naya like many of you have started to run a number of tech businesses here in New York City and about my least favorite part of the whole process was choosing health insurance and other benefits for my employees it's just a mess Naya is changing all that by bringing a machine learning and AI approach to the process of choosing and using health insurance to tell you all about it please welcome senator Ozzy co-founder and CEO of Naya thanks Chris hi my name is Senator Ozzy and I'm the co-founder of Naya in the u.s. small medium businesses employ over 60 million people for many of those workers they cite health insurance is one of their top 3 drivers of job satisfaction meanwhile health insurance costs have been rising by over five percent a year and what we've learned is that one-third of US businesses are on the wrong plan business leaders are between a rock and a hard place costs keep going up coverage is plummeting and the people who are meant to be part of the solution they're part of the problem welcome to nyah-nyah as a data-driven broker that uses AI to match businesses with more cost-effective transparent and personalized benefits the other 11 months of the year Niyaz a trusted companion to workers so they can extract every ounce out of value out of that health insurance investment because times have changed using the latest techniques in AI and data science business leaders can achieve outcomes of 15% in terms of cost savings while improving coverage for their workers sound too good to be true it isn't we opened up our beta in the state of New York which was 400% oversubscribed and nya distributed benefits to 15 businesses as our customers we then successfully deployed our software into almost two thirds of the employees at every single one of those customers with users and revenue growing steadily during that period how do we do it nya has two core pillars nya DNA and companion DNA cleans billions of data points about who you are as a business who you were two years ago who you are today and who you very well may be two years from now we also programmatically analyze network and health insurance related data to match you with the optimized Health Insurance Program often leading the savings of over 10% mean while every reimbursement every purchase every claim reinforces our algorithms so we can optimize maintenance to you nya's companion platform helps employees at the Nexus of their wallet and their well-being as you have symptoms we match you with providers who are actually in your network our chat bot mr. Edison can answer simple questions like what is it a ductile what is my deductible to more advanced queries like his doctor mcgoun in my network and if i go to doctor Magoon for this procedure how much is it likely to cost me we connect to employees with health and wellness tools as well as an insurance financial guy that can help them understand if they've incurred an expense that's very likely HSA eligible businesses do not pay to use naya instead insurance companies pay us commissions as opposed to your old world broker with their Excel spreadsheets in their stacks of paper to give a sense for the economics a 100 person company in the state of New York generates about $40,000 in annual recurring revenue for nya why are we the right team to get this done my co-founder Akash Magoon is a graduate of the University of Maryland he started and sold his first business lis labs in 2016 before becoming a machine learning leader at Amazon Web Services as well as in nigma technologies I studied at Georgetown Law & Georgetown Business School and I've been involved in scaling data businesses in New York especially the Nexus of insurance and data we have a rockstar teaming of angels and advisors folks who have not only been c-suite leaders of leading American financial institutions but co-founders themselves from inception to exit and we're fortunate to lead upon their advice and now we really are ready for take off our New York beta is completely over integrating fantastic product feedback from our customers we recruited a great team across engineering and operations data science and growth and we've already raised 1 million dollars into our proceed round as we get ready to re-enter the market in June the most exciting part is that as we penetrate more and more businesses and deliver better and better value nigh as data assets grow stronger every day the network effect means that every transaction reinforces our algorithms towards the bowl of bringing better more transparent data-driven benefits to US businesses because the old model was great for the 1970s and 80s but now now more than ever it's time for better and we look forward to joining you along that journey thank you very much speak with you soon hi this is peri Solomon lead mentor for Ella when I first met Sebastian the energy and passion and his voice convinced me that I had to work with him and that's really the power of voice conveying what we mean and motivating action and that's what Rilla does for businesses so get ready here's Sebastian founder of Rilla hi guys my name is sebastian and i am the founder of real avoid so think of the last time you went shopping you probably spoke to someone like this let's call him Charles Charles asked you what you needed you said you were looking for the new Superfly 1000 sneakers Charles said they didn't have any so you thanked him and you left now in that very short but very typical conversation Charles found out very important pieces of information about you found out who you were why you were in the store in the first place what specific product you were looking for and how was your experience so some of the largest brands in the world like McDonald's Sephora Walmart they're spending tens of billions of dollars every year on social media analytics online surveys call center analytics all to try to understand their customers better but 90% of the interactions their customers have with their brand don't happen online they happen offline face-to-face in their stores with people like Charles and Charles has hundreds of these conversations every day thousands every week where he's getting to understand their customers much better and it's not only Charles it's the grocery store clerk who helps you find the toilet paper it's the fast-food worker who takes your order at the counter it's the thousands of nurses helping patients all across the country it's the tens of millions of field employees who are having billions upon billions of face-to-face conversations with customers every single month that's data that's comparable to the amount of Google searches and right now none of it is being captured but what if there was a way the businesses could here what Charles is hearing that they could understand their customers the way he does that's why we build Villa we are doing voice recognition ai to capture insights from the conversations happening in offline commerce here's how it works step one employees talk what customers just like they normally do no training required step two from their microphone just like the ones that many of them are already wearing just like this one our AI listens and step three Rai cashiers insights and sends them to the cloud insights like who the customer is what they care about and most importantly how was their experience now this might seem very simple but capturing accurate analytics from these noisy conversations where multiple people are speaking into the same microphone it's actually very very hard and our proprietary signal processing technology solves this problem which is what makes this even possible now I know what you might be thinking is this even legal yes not only is it data completely anonymized and complying with the most stringent privacy regulations in the world but customers are actually ok with it don't take it from me take it from any one of the companies who have already signed up and have been using it in their stores since launching in December we were able to grow into six enterprise pilot partnerships in only three months where we're discussing annual contracts of six figures and processing tens of thousands of conversations every month now to give you an idea of the value of the data we provide our customers take something like inventory planning the number one problem that offline grocery stores and retailers have today just like the example I Illustrated at the beginning with Charles millions of shoppers are walking into stores and not finding what they're looking for with Rilla retailers can for the first time capture this signal about what products their shoppers are looking for not only what they're purchasing but what they're looking for so they can minimize out of stocks maximize chances of conversion in store and capitalize on a three hundred billion dollar opportunity and that's just one example but basically everything Google Analytics did for e-commerce we are doing for the remaining 90% of Commerce that's still today yes still today happens offline and for this grand vision we need an amazing team to go after it I have experience selling software solutions to brands like Heineken and Molson and Michael work for the Department of Defense developing signal processing to detect enemy objects from sonar so we have an amazing team that's able to execute incredibly quickly but we also need support from amazing investors and that is why we're here today because we want your help and ushering the voice-recognition revolution for offline commerce thank you guys for listening [Music] hi everyone this is fatty osmotic an adventure partner of the era and also the lead mentor for artists on go I could not be more excited about this demo day I worked with a lot of companies in the past but it's not everyday that I work with a company where the founders have although they built a business with billion-dollar revenues and exited so you could say that they know what they're talking about so it is my absolute pleasure to invite diem to tell you more about artists on go hello everyone I am GM co-founder of artists one goal today we are going to talk a lot about hair cuts hair salon industry and how we are changing it I spent last 15 years building a chain of 350 premium salons that I sold to private equity let me share some facts hair salon industry is massive four million people take haircut every single day and they spend seventy six billion dollars eighty two percent of the business is repeat driven by the relationship between hair stylists and appliance now when you spend $50 on your haircut you're thinking most of the money is going to your hair stylist unfortunately no your hair stylist gets just thirty percent he spent 70 percent of his income as rent to salon owners now this is not a sustainable model I saw a huge opportunity to provide access to salons in a much cheaper and better way that's when we started our - one goal on our platform we allow these hair stylists to rent and used capacity from existing salon so now they can work directly with you and make three times more income so when you spend $50 they keep 75% of it not 30% as earlier salons are actually very excited about this model because now they can monetize their unused capacity salons have 70% unused capacity yes that's a fact we launched our platform in New York City five months back response has been great we already have 600 hair stylists growing 40 percent month-over-month power users user platform 3 to 5 times every week Ong went for power users she has made hundred and sixty seven bookings last five months yes 167 bookings based on the current usage we expect hair stylists using a web platform for $7,500 on booking of which 30% is net are the stronger revenues and you're thinking wow this is a great platform I must share with my hairstylist yes that's how we have grown hair stylists use our platform they love it and they share on social media we have a network effect about it now let's chat about co-ed Kovac has actually accelerated the adoption of our platform because more and more hair stylish and looking for better and flexible options and we provide them one and salons they want to make more income and we help them to do so in April alone we have seen 417 advance bookings on our platform we are very excited about this now let me share our expansion plans we understand this market and industry very well there is a requirement of this platform everywhere however you're starting with only top 10 cities where the market is really focused concentrated and huge to achieve our first hundred million dollar in bookings we need to acquire 18,000 hairstyles we are actually on it I'm pleased to announce our partnerships with brands L'Oreal and Vida who have established relationship with millions of hairdressers these partnerships will only accelerate our growth most importantly there's a very strong team behind this mission my co-founder Adi she has worked directly with the cofounders of ubers she's 15 years of product growth experience working for brands like each trade future and other startups that he spent 26 years as CEO Florio we are ready excited to build a company which can support not only hair stylists but also other artists like acupuncturist was so sad wash because they need is similar our vision is to be a largest player in service and beauty economy without owning a salon singles alone and I welcome you to join our team thank you very much hello my name is Justin Smith line and I'm the lead mentor for solution when we met Sean we were really intrigued by his insight to completely reinvent the health savings account and we're enamored with his bigger vision around patient finance here's Sean from solution good afternoon I'm Sean Greta co-founder and CEO solution for the past 10 years I've been a portfolio manager at a four billion dollar fund here in New York City my primary role is to finance the balance sheets of FinTech originators and in that role the most pressing financial problem that I saw was the consumers inability to afford high deductible health care solutions solves this problem by changing how consumers use their health savings accounts we have unlocked tax savings on an additional 40 billion dollars of out-of-pocket medical expenses and we've created the optimal mechanism to deliver an entirely new form of patient finance which we believe is a three billion dollar a year opportunity today health savings accounts force consumers to build a cash balance to pay for medical expenses and this is a problem of the 30 million households that have HSA eligible health plans 35% don't have the money to contribute they need the tax payments the most and don't get it and for about 50 percent they contribute but only what they think they might spend when faced with unexpected medical expenses they also miss out on tax savings with solution there are no upfront contributions no cash balances no debit cards consumers pay for medical expense like any other expense with cash or credit after the expenses paid you log it with us from there solution creates a simultaneous contribution into and reimbursement out of your HSA to effect the tax savings it is like an HSA on demand and because upfront contributions aren't necessary every consumer can receive an HSA tax savings on every medical expense and when consumers win their employers due to employers avoid payroll taxes on HSA contributions by expanding HSA usage amongst their workforce companies receive a net benefit of over $500 per employee $115 is additional payroll tax savings and the other $400 is an effective increase in employee take-home pay I feel very fortunate to have assembled a world-class team to execute our mission I spent the first 10 years of my career as a self side mortgage trader managing a four billion dollar book of loans I later moved to the buy-side where I created an entirely new financial asset class with the first securitization of clean energy assessments originating executing and managing complex financial transactions that's my jam Charles Newton is our CEO we overlapped at Bank of America where he was head of global structure products technology he managed a group of 200 technologists building pricing and risk management systems for the investment bank most recently he was an executive vice president at pemko responsible for the front office technology and dining winters our CTO he's an experienced entrepreneur an excellent engineer that is designed and built our HSA platform today our HSA platform is operational and saving pilot users money on their taxes we just started phase 2 integrating with companies and their payroll providers looking forward there's a huge opportunity to finance out-of-pocket medical expenses we've specifically designed to nature say that delivers an entirely new form of tax advantaged patient finance the union economics and the size of the opportunity speak for themselves but what gets us really excited is that we believe our HSA is unequivocally the best way to reach this untapped market and here's why first HSA is are uniquely positioned to see the entire medical wallet giving us the ability to help finance the entire medical burden second as an HSA administrator employers pay three dollars per employee per month effectively paying us to acquire our customers most importantly the principle component of a loan used to pay for medical expenses is itself an HSA qualified medical expense our medical loans we run run through our HSA our 25 points cheaper than any competing financing and finally our loans are serviced directly through payroll dramatically improving the credit quality of what is mostly a non-prime population looking forward this gives us the opportunity to expand beyond patient finance to all consumer financing needs with the lower cost higher credit consumer loan offering this is some pretty exciting stuff I look forward to speaking with all of you after the event take care hi I'm Brian Hecht venture partner here at er a now I work with a lot of direct-to-consumer companies and many of them suffer from the same problem they're nice to have snot must haves our next company has identified a rare essential product that you may not think of every day it's under the radar but ripe for innovation and speaks to a demographic that is all too often ignored here to tell you more is Stephen co-founder and CEO of hazel hey everyone I'm Stephen the co-founder and CEO of hazel I want you all to meet Kay kaiza 64 year old HR executive she has two adult children and she loves her weekly Pilates class I met Kay in my previous role want to help found a social club for people over 50 and Kay explained to me that there was a big difference between the beauty products she loves and the personal care products that make her feel old earlier in my career I led strategy I plated and my co-founder Aubrey designed brand and product experiences for women at companies like Zola and Rockets have awesome since we both come from user focused companies Kay's story really resonated with us so we began talking with hundreds of women over 50 and we learned that just like Kay they're demanding a better personal care experience and we were surprised to learn that the biggest pain point was incontinence products specifically adult diapers that's why we built hazel to be a personal care brand empowering the ever-evolving woman with elevated groundbreaking products starting with disposable underwear the incontinence category is an overlooked 13 billion dollar market and it's the fastest growing category in personal care one in two women over 50 experience some type of leakage to the life experiences like childbirth and menopause this is a must-have product and it's one of the most in-demand categories ask Ovid move sales online all incontinence products were sold out overnight on Amazon Target and Walmart and yet 70% of women hate the current solution it's a product their mothers wear not something she wants to wear they're bulky they're papery they're basically oversized baby diapers but legacy brands own 100% of the market and they're leveraging their existing baby diaper manufacturing and supply chain so they have zero incentive to innovate and to be clear we're not just another white labeled product we worked with material scientists that come from Johnson and Johnson and we completely re-engineered our patent-pending underwear so we prioritized fit function and aesthetics so while our competitors are using plastic we've introduced new materials and technologies but we know our product can't just work better it has to look and feel better so we've designed this product alongside fashion designers from j.crew and Ralph Lauren and we worked with models in demo representing different body types allowing us to design for the way her body changes as she gets older and we've also reimagined the existing manufacturing process from the machinery to the supply chain that's something our competitors can't and won't do this demo represents a completely new consumer category the overall population is getting older and they control most of the disposable income and they have a particular willingness to try new online brands and services so the time to do this is right now we're launching direct-to-consumer to learn from our customers and iterate quickly and this is perfect for subscription its need-based and she uses it daily this leads to an attractive and scalable business model our tests have shown a four hundred and fifty dollar lifetime value on a $50 CAC that's a 9x return on marketing dollars and from the beginning it was important for us to connect with our consumer so we've already established a community of influential women who have helped shape the brand and mission and they're excited to share hazel with their followers so as we grow in scale we know that this authentic momentum is the way to turn on other sales channels like Amazon and Target so over the last year we've developed the brand the physical product and validated it all with consumer research but we know that incontinence products are just the start just like hymns and hers has done for the healthcare category hazel has its sights set on the hundred and twenty six billion dollar personal care space for women over 50 so join us as we empower the ever-evolving woman with groundbreaking products and the elevated experience she deserves thank you hello my name is Justin Smith lied I'm the lead mentor for paren toe when we first met Dirk what intrigued us most with the unique way in which he was tackling this problem from an insurer tech perspective I've been really impressed with his execution to date and I'm excited by the sector tailwind here's Dirk from print Oh having a child is one of the most joyful and rewarding life events but not a happy career event there's a disconnect between the way society in the working world approach having children when a baby is born it impacts the parents and their companies yet companies don't know how to effectively handle employees having children even though almost all of them well for parents one-third of new moms quit after having a child new moms who do return cut their work hours and commitment to their careers that creates a lifetime earnings gap all because they were never given the necessary support to balance the competing priorities of work and a new child for employers that results in over half a billion lost work hours each year and that's just from the new moms that return for the economy that's over 13 billion dollars in lost earning power to offer a semblance of paid parental leave today companies have to cobble together sick days vacation even short term disability insurance but that still doesn't provide enough time pay or resources for new parents to transition to their new life that's why I created perentie I'm Dirk Dobler the founder of paren toe and we offer the first and only insurance based paid parental leave program for small to mid-sized businesses for employers our program provides the tools and covers a risk and salary when a mom or dad takes parental leave for the employee our program enables a necessary income for them to take the time they need while receiving guidance and return to work support a comprehensive paid parental leave program like ours boosts retention of new moms from the average of 67 percent to over 90 percent in driving ROI of 40 to 60 percent by also increasing averaging a tenure and new parent productivity we fit seamlessly into corporate buying habits today companies already buy insurance for the health dental vision and disability income and now they can for parental leave in fact we offer them a replacement - what incumbents position as a solution from paid maternity leave disability insurance I created parental because existing programs don't in won't meet the full needs of employees having children our platform provides the best tool to attract and retain talent we haven't even launched yet we have nearly 20 companies with between ninety and thirty three hundred employees and our funnel most of whom we've coated we also have a dozen benefits brokers who are experts in benefits bringing the product to their clients some as large as twenty thousand employees now to access our platform companies pay a fee per employee based on our proprietary actuarial tables via our partner boosts insurance reinsurance like all of the risk in pay all claims while parental retains a portion of paid premiums along with a program fee while our partners take all the risk we focus on platform development and distribution as our initial anchor offering we are unlocking a whole new category an employer-sponsored paid family leave and support we will solve not just the financial but a logistical and emotional challenges that most Americans at small to mid-sized firms inevitably face when they have a child or suddenly become a caregiver parental will be the stamp of a family friendly firm I came to this problem because I wanted to offer paid parental leave to my employees when I ran finance for consumer goods startup I discovered other CFOs wanted a purpose-built solution as well with my background in data and finance I'm out to help companies overcome the financial obstacles that disproportionately hinder women's careers now there's talk that almost quarantine will result in a baby boom but in all seriousness there never been a better time for this the pandemic is accelerating companies awareness that parental and family support is key to a successful workforce strategy our next step is to launch bind covered with companies and change the way America deals with working families having children should be happy event period if you want to learn more please reach out [Music] [Music] I'll fill matches er a entrepreneur-in-residence like many of you I own my home like some of you I also own a house we rent out that rental house is an all-or-nothing proposition what if it doesn't have to be that way means sandy he's here to tell you about that better way clay Napoli hi I'm Sandeep and I'm the founder of koi na Polly I'd like to start by introducing you to Jill Jill and her husband are both Millennials they just started a family like their parents and their parents before them they want to buy a home but every time they visit a home builder they don't have the price of entry they can't afford the down payment so instead they rent a home and every month they write a check feeling terrible about the money that they're throwing away and that they can't share in the biggest part of the American Dream it turns out that Jill's story is not uncommon 90 percent of Millennials want to own a home but 65 percent will have to wait 20 years or more to afford it that's unacceptable as a home builder in Los Angeles for the past 15 years I knew there had to be a better way to solve this and that's why I created coin-op Elite Quay knobbly cracks the code for home ownership with its rent-to-own platform for new single-family homes so how do we do this well the trick is what we call fractional ownership which allows the house to have multiple owners renters can buy a small fraction of their home each year and for the very first time we eliminate the need for a down payment not only does this innovation help renters it also unlocks value for real estate investors remember the person who introduced me Phil well it turns out Phil and about 10 million other landlords like him typically owned one property so what we do is we pull together capital from folks like Phil who want to spread risk across multiple homes not just one next we take this capital and we buy in bulk from home builders for a better price finally we rent to Jill and as a renter - homeowner she's less likely to move Laurie vacancy rates and creating a better community with higher home prices as arose Phil sees that 35 percent improvement in returns because Connelly brings lower risk higher appreciation and predictable rental income it's a win-win for everyone involved Phil Jill and even the home builder because coin appellee manages our Ellen assets we make money by taking a 10% cut off rental income and we also charge a 2.5% transaction fee every time capital enters or leaves our platform so how big is this market well it's huge there are over 15 billion dollars worth of new rental homes that are bought by investors each year so to start we're launching a project of 45 single-family homes in California representing 15 million in assets under management it's actually in the same market where I previously built houses over the next five years we have plans to expand in 12 geographic markets nationally with 10,000 homes in all and over three billion in assets under management the time is now a national shortage of housing hurts renters and historical low interest rates make it harder to find good returns I'd like to end by introducing you to one more person and that's my grandfather when he started our family business 75 years ago in a small village in India he knew that pooling together capital from the locals was a way to grow but little did he know that his idea would make his family into one of india's largest real estate developers or that his grandson would expand on his idea to enable home ownership and a ladder up to the american dream for so many people please reach out to me to learn how you too can be a part of quanities mission to unlock fractional ownership for better returns and the American dream thank you [Music] hi I'm Joe Gallardo yari alum and lead mentor for spotter with years of experience in logistics the two founders of our next company have identified the missing link in automating the hundred billion dollar trucking business the proof for an industry with razor thin margins load profitability doubled after human dispatchers were swapped out for spotter software on a thousand loads here to tell you more the CEO Patti woo in just one month since launch spotter has 6 million in sales agreements just off of functional MVP do I have your attention great so what do we do spotter solves a pain point of truck dispatching truck dispatching is a job of matching Freight to trucks you know way that maximizes profitability to the trucking company and currently this is done in an extremely manual and and plate away dispatchers scroll through thousands of options comparing factors like price destinations scheduling fuel costs and 20 other factors they stare at the computer all day and at most they can cover eight trucks per week and due to this manual process the dispatch market is a huge six point four billion dollar opportunity consisting of six hundred thousand trucks and eighty thousand dispatchers just in the u.s. target market and far more important than a high class of running a dispatch office is all the lost profits from not applying data analysis to find the most profitable loads and all the lost profits from not booking high-paying loads quickly enough because of this Packer was manual to slow my co-founder gave on the trucking company and he experiences problems firsthand prior to that he was a trader developer at a top-tier high frequency trading firm in Chicago I also have logistics perience I was a CEO at a logistics software company together Gabe and I have been great friends for eight years and we built spotter spotter is a web application that streamlines all the manual dispatch processes and runs a selection algorithm to identify the most profitable loads let me give you example of how spotter works when a new load shows up in the marketplace spotter finds all the trucks near that load using GPS then spotter processes tens of thousands of data points to price the load and submit submits a bit spotter does this instantaneously or every single load across every single marketplace we've tested spotter on 1,000 shipments and we saw a 100% increase in that profit for our customers twenty percent from cost savings and eighty percent from revenue increase you may be wondering why hasn't this been done before how is spotter the first solution two main reasons number one the e-commerce poon costs a spike in on demand shipping and everyone was making so much money that process inefficiencies got overlooked but in the last year on demand became saturated and dispatching is getting significant attention second reason it wasn't possible to build spotter until recently a lot of the data necessary wasn't available and that segues to my next point five billion dollars of venture capital since 2018 has been built invested towards supporting infrastructure that allows spotter to be possible but none of the money went towards actually building spotter all the money went towards building high-tech marketplaces brokerages and truck tracking devices only 1% of that money went towards dispatch technology where dispatching is 40 percent of the logistics optimization market opportunity spotter needs to happen now there's overwhelming customer demand we approach our customers and we said let's pilot five trucks and they offer fifty spotter is perfectly positioned to grow quickly and we're here to make happen thank you so much for listening please send us an email we would to tell you more [Music] hi I'm Brian Hecht venture partner here at er a now data is the currency of today's marketing and advertising world it's incredibly valuable but with more and more security and privacy regulations getting the right kind of data is harder than ever our next founder has built an ingenious platform that provides an interactive experience that engages consumers while giving companies the opt-in first-party data they need introducing will cohen founder and CEO of top what do brands really need they need data but it's harder than ever to get consumers to share their data and why should they advertising is boring annoying and intrusive that's why consumer engagement is at record lows and now it's a date apocalypse with restrictive privacy laws and cookies going away the brand's they're losing their most valuable asset the data their hands are tied and they have no tools to fix this problem hi I'm will Cowan founder and CEO of top I saw this problem firsthand when I was head of mobile and strategy working with major companies like Walmart coca-cola and Game Stop that's how I know more than anything that brands crave data and the way they get this data is by consumers engaging and giving them something in return for the data they share but that takes more than a clever ad campaign it takes a fundamentally different approach that requires new technology and that's where top comes in we're a platform that allows advertisers to acquire rich first-party data this is data that the consumers themselves give to the brand it's all opt-in and privacy compliant so let's see how this actually works brands log into our SAS platform they provide their own creative and generate their own campaigns it can be on mobile on web digital billboards connect to TV and it can even be native content and because they're using top it enables all types of engaging features like live voting competitions and games it all requires consumers to volunteer their data in order to participate so if consumers want a nominate and vote on the features they want in their next cell phone Samsung that promotion and in order to participate consumers must opt in with their email and permission to engage because they want to participate they want influence we then take all of that data and using AI we provide brand and valuable insights and predictive analytics on these customers their preferences and future purchase behavior all this is possible because in the end the brand's own the data but the way it is now publishers are holding the data hostage they use it and they never share back with the brand's who paid for it top turns that model on its head and that's why brands are demanding top and we've got the traction to prove it we launched us five months ago and we are already working with Priceline Comcast gala wine and Kanye West yes even Kanye and we're in advanced talks with companies like Conde Nast Walmart and coca-cola we charged each of these clients up to a hundred thousand a year or on track to do over 1 million in ARR this year and today I'm proud to share that we are now releasing new technology to support eSports and gaming we're partnering to integrate with NBA 2k FIFA fortnight and League of Legends there are enormous tailwind for gaming organic interests in video games was already skyrocketing and now without live sports and events it's the right time to enter this a hundred and twenty billion dollar industry with this expansion top is proven that we can quickly scale and deploy our technology at anytime on any platform to help brands achieve the lasting engagement and data collection they desperately need we are the perfect team to be the leader in this new data landscape as I mentioned earlier I helped create products for some of the largest brands and retailers in the world and our CTO Marvin has over three decades of experience with companies like Apple and Visa with multiple startup exits at top we have the tech we have the team and we have the experience to disrupt the way we engage consumers to collect privacy compliant data if you'd like to join us please be in touch we would love to tell you more thank you [Music] thanks so much for joining us today I'm sure you can see why we're so excited about this group of companies now please click on the link below book meetings with these amazing companies we've been so impressed with the businesses they're building and as always we're looking for exceptional founders and startups to join our summer 2020 program if you have a founder in mind we would love to get connected and again a big thank you to all of our mentors who are here with us today I'll be reaching out shortly to schedule your next visit with our upcoming cohort thank you [Music] [Music]

Channel: Entrepreneurs Roundtable Accelerator

Views: 3,840

Rating: 4.9459457 out of 5

Keywords: nyctech, startups, eranyc, demoday, techaccelerator, accelerators, nyc

Id: ZpRacdXmBn8

Length: 70min 32sec (4232 seconds)

Published: Wed May 13 2020