Coopah is a fully personalised run coaching app that helps to make training a habit.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | coopah.com/ |
| Sectors | Travel, Leisure & Sport Digital B2C |
| Company number | 12602120 |
| Incorporation date | 14 May 2020 |
Investment summary
Business highlights
- Negotiating a 3 year rolling contract with London Marathon Events
- Backed by Olympians
- As seen on BBC, ITV, Men's Fitness & Men's Running
- 6k + users with an average WoW growth of 46%
Key features
Idea
Introduction
Coopah is on a mission to build the world’s smartest digital sports coach. 50% of people who start a training plan will quit before 60 days. We have built a digital run coach app that automatically personalises training and uses gamification to keep users engaged. With over 6,000 users, average WoW sign up growth of 46% and retention rates of over 80% (10x the industry benchmark) we know we are on to something.
Our company is powered by a belief we can use running to help prevent mental health crises. So as well as selling subscriptions to our digital run coach app, we’ve created a Refugee Run Club with the aim of supporting Refugees by making sport accessible and inviting to them. It’s changed the runners' lives forever and transformed their mental health. We’ve been featured across 13 publications generating a 25 million person reach.
Substantial accomplishments to date
🎯 We have developed an automated training application which has seen over 80% Day 30 retention – 10x the benchmark for health and fitness apps.
🧠 We have the backing of some industry legends. Gareth Nettleton (ex VP of Marketing at Strava), a number of Olympians and George Kruis are joining as part of the Seedrs crowd in this round, showing their belief that we are a much-needed solution.
🏃♀️ We expect to agree an investment and a 3-year rolling contract to promote Coopah as the training provider for all London Marathon Events.
🤝 Proven a low-cost user acquisition route with event partners and have a great opportunity to expand on this through London Marathon.
🧡 Developed a social impact side to the business with our Refugee Run Club which gives refugees kit, training and race entries.
Monetisation strategy
Coopah has achieved 46% WoW growth to date with our community at the heart of all that we do.
With users paying £6.99 a month for their subscriptions and having recently introduced an annual plan of £79.99 which has seen over 25% of users move onto this we want to continue to drive growth via both D2C and through our event partners. A strong trial with event partners in 2022 showed a 45% conversion to users and we aim to continue improving this and invest behind this growth, especially through the London Marathon events partnership.
As we develop V2 of the app, our dynamic training plans will become even more personalised, with the aim to keep customers retained and improve our growth rate with the goal of expanding into swim, cycle and triathlon plans.
Use of proceeds
Proceeds will be used for growth capital in 3 key areas:
1) Launch and grow our event partner model - execute the London Marathon Events partnership and continue to grow with global races
2) Brand Marketing Charge - content overhaul, strong brand messaging and brand collaborations to grow our WoW growth even higher than 46%
3) Product Development; make key hires to strive to have the most personalised training product on the market
London Marathon Events are participating as a strategic investor in this round and they will enter a special partnership upon completion. As a strategic investor and as part of that partnership, LME will receive different investment terms to other investors in the round, including Seedrs. Investors should be aware of this partnership and of the terms of the investment by reading the Key Information section.
Investor Perks
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
London Marathon Events Agreement
London Marathon Events (LME) are expected to become a shareholder and investor in addition to entering into a commercial agreement to support the promotion of the business. The terms of LME’s investment are different to the terms that other investors in the round will receive, including Seedrs investors. Seedrs investors should review these terms as part of their investment decision.
Equity
In return for certain services provided by LME to Coopah, LME will receive a 12.5% stake in the business.
LME will also invest £40,000 at a 20% discount to the share price set in this round. That means LME will invest at a £13.97 share price. If the campaign overfunds then LME will increase their investment up to a total of £50k so that they represent 10% of the total amount raised.
LME will continue to receive a 20% discount on any future investment round by the company for the 5 years following their investment. Seedrs investors are not expected to benefit from this discount.
The shares to be issued in respect of the 12.5% equity for services, and the investment of up to £50,000 at a 20% discount, have been factored into the pre-money valuation for this campaign and are not reflected in the amount raised.
Key Terms between LME and Coopah
The commercial deal contains various rights for LME including some specific circumstances where they may gain control of the company's technical IP.
In the case that the business winds up or stops providing a training product for runners then LME will have the right to a copy of the source code and a royalty free license to use the code. Neither of these rights give them access to the Coopah brand or stop Coopah trading the app themselves.
LME will also have the right to the app source code in the case that the company is sold or the assets are transferred to an acquirer that is conflicting with LME.
LME has no control over the Coopah brand and excluding the above circumstances does not have any control over the Coopah IP.
Open an account to get access to the team members of Coopah
Already have an account? Log in
To comply with financial regulations, we can only show full campaign details to registered users.
Only shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy shares