Jumpstart Capital came to be as a result of the success of our overall platform and model – concurrent with the investment of our 2017 seed fund, we began to find that several of our earlier seed fund companies were finding outsize success and with that, the need for additional capital to support getting to the next level.
Our portfolio of seed fund healthcare companies consists of 47 companies in which we have invested $150K at standard valuations of $2M (7.5% equity plus right of first refusal to invest 25% in any next round funding). While all of the firms in which we’ve invest share a common industry (healthcare), this is where their in-common characteristics end. Our portfolio includes both BtoB and BtoC companies. While most of our businesses have some software component to them, they span the depth and breadth of the healthcare landscape: Telehealth, Wearables, iOT, Home Health, Elimination of Middlemen, Care efficiencies, consumer products, and everything in between.
SEED FUND SPOTLIGHTS
“Senior Care Reimagined”
PRODUCT: Through the use of wearables and smart home technology, Reemo offers seniors a suite of functionality including wellness information, messaging capabilities, gesture-controlled home automation and much more. The Reemo dashboard provides key stakeholder with unparalleled visibility to personalized health data in real-time to allow for informed care decisions and reduce unnecessary home and hospital visits.
TRACTION: Pilots in place with: Brookdale Senior Living, HCA, ADT, Samsung, AT&T. Monthly recurring revenue expected to hit $88K by end of 2017, $1.57M by end of 2018; cash flow positive in early 2019.
STATUS: JSF invested $150K at standard $2M valuation in 2015; JSC recently led a convertible note raise of $1M at $5M valuation cap. Reemo is currently raising a Series A round of $5-10M using JSC’s proprietary matching system at a valuation cap of $30-50M.
Contact lenses delivered to your door… like “Dollar Shave Club.”
PRODUCT: Sightbox is an annual vision care service for contact lens wearers. For one easy monthly fee, Sightbox locates an eye doctor, books appointments, pays the doctor, holds the prescription and delivers contact lenses on a regular basis over the next twelve months. Sightbox takes the confusion, cost barriers, and inconvenience out of the process of obtaining contact lenses.
TRACTION: 5,000+ users and growing at a monthly rate in excess of 60%. Subscribers pay an average rate of $39/mo. Customer acquisition cost recovered in 6 months with a one-year contract. Lifetime value of customer unknown but customer churn less than 2% to date.
STATUS: JSF invested $150K at standard $2M valuation in 2016; JSC led a convertible note raise of $1M at $15M valuation cap. Acquired by Johnson & Johnson Vision in the fall of 2017.