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Prosper Points

Reward your employees for staying out of social media

Chile
Market: Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 30.03.2020
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Idea

For employees that wants to improve their health and productivity, Prosper Points is a mobile app that rewards employees for the efficient smartphone use during the work times. At the same time for the HR teams in big companies, Prosper Points is a SaaS of productivity, wellness, safety. Our differentiation from the competitors is that we offer an 100% voluntary solution.

Current Status

Just pivoting the business model
Develop MVP Android and web dashboard for customers
Building IOS version
17,000 total downloads
14,000 total installations
8,900 total active users
3,700 monthly active users
300 - 900 daily active users
40% retention rate last 30 days
60% churn rate last 30 days
53 customers in MarketPlace the most prominent Rappi, Andes Gear
1,400 coupon purchases coupon
240redemption
6 appearances innational press
Startup Chile Seed program
Winners of the Tech Startup Award at California State University, Chico.
Validations of B2B version SaaS: SalcoBrand, Merieux Nutriscience, Unilever, Abbot among others.
B2B pilots: Cowork Latam, Adelco, Accenture Chile, Ibitt, Quickex

Market

The macro market that we want to attack is the SaaS of productivity market, that represents more than 87,7 billion dollar market size.

We want to attack different niches such as Safety and Wellness

Wellness workplace market is a 7,2 billion market size that is growing fast. That's our main goal.

Problem or Opportunity

The smartphone idle use during the work times is causing a 20% weekly decrease on productivity, this represents a loss of more than 1.000.000 USD for companies that have 150 employees. Also social media adictions has become one of the main causes of depression, anxiety, fomo for employees. Smartphone is the first cause of car accidents worldwide, representing more than 360.000 accidents just in the 2018.

Solution (product or service)

A mobile app that rewards employees for staying out of social media. You open the app, lock your screen and for the time that you keep it locket you earn points. These points allow employees to buy internal benefits that the HR team builds base on the employees needs.

HR team have access to a Web Dashboard where they can edit and create the benefits and check different metrics such as: Screen time decreased, Benefits information, ROI among others.

Competitors

Pocket Points in the United States and Canada: Mainly they work as an app that exclusively to reduce cell phone use in the classroom For university students. The operation of the app is very similar to ours but its target is different.

Napify in Mexico and the United States: Napify started as an app that rewards people for not using the cell phone while driving and additionally they have pivoted to a more extensive target.

Hold in the UK and Nordic countries: Mainly they work as an app exclusively to reduce cell phone use in the classroom for university students. The operation of the app is very similar to ours but its target is different.

Safe 2 Save App: An app that rewards for not using your phone while driving

OnMyWay app: An app that rewards for not using your phone while driving

Advantages or differentiators

We have a B2B business model
SaaS of productivity, wellness and safety for Hr teams
Only for employees
Able to sell the API to other verticals such as: Schools, Universities, Insurance companies.

Finance

Yearly revenue per client: 10.000 USD
Clients: 2021 = 30, 2022 = 180, 2023 = 420
Total revenue per year: 2021 = 300,000 USD, 2022 = 1,800,000 USD,
2023 = 4,200,000
Burn rate: 2021 = 480,000 USD, 2022 = 1,048,000 USD,
2023 = 1,500,000 USD

Business model

SaaS: A base monthly subscription model with a base fee per employee using the platform. Prices fluctuate depending on the amount of employees that a companies has.

Renting API: Depending on the ask of third parties

White Label products: Depending on the ask of third parties

Money will be spent on

35% Technical development
25% Marketing
15% investment in contracting (sales team)
15% operating expenses
10% human resources

Offer for investor

15% equity
or
convertible note

Team or Management

Risks

Low LTV
Legal prohibition of the smartphone use in the workspace

Incubation/Acceleration programs accomplishment

Accion emprendedora: Santiago de Chile.
Santiago Innova: Santiago de Chile, 15k grant
Startup Chile: Santiago de Chile 30 k grant (in the process)

Won the competition and other awards

Startup of the year: California State University, Chico

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Photo 1 - Reward your employees for staying out of social media

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video