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Nurturey

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The one-stop online platform for parents to digitise and simplify their parental journey.

191%
 - 
Funded 29 Sep 2015
£90,030 target
£177,197 from 93 investors
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Business overview

Location Petts Wood, United Kingdom
Social media
Website www.nurturey.com
Sectors Home & Personal Digital B2C
Company number 08998552
Incorporation date 15 Apr 2014
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Investment summary

Type Equity
Valuation (pre-money) £1.2M
Equity offered 12.52%
Tax relief

EIS

  • Idea
  • Market
  • Team
  • Updates
  • Investors 93
  • Discussion
  • Documents

Idea

Introduction

Problem:
On one hand, parents have to manage an onslaught of routine information, documents, activities, etc; on the other, it is difficult for parents to follow, let alone implement, overwhelming amount of information/resources available today on parenting.

Proposition:
Nurturey helps parents digitise and simplify their journey in an intuitive, appealing and frictionless manner.

Vision:
Globally, signing up on Nurturey will be one of the first steps parents take when they conceive. It will be the 'go-to' platform for parents for digital tools that will set them free of anxiety in their parental journey.

Description
With its ORGANISE, NURTURE, TEAM-UP and CHERISH model, Nurturey offers productivity tools to manage every aspect of life around kids. Moreover, it aims to connect parents with only the most relevant information/resources, empowering them to be pro-active in nurturing their children. And with multi-device access, Nurturey aims to bring control to parents' fingertips.

Intended impact

Digitisation is an irreversible phenomenon of the modern world; and Nurturey will bring its benefits to the parents and parenting.

1) Benefits:
a) Efficiency: Saves time and reduces errors in routine activities; enables smooth coordination with family and preserves all that is relevant and memorable.
b) Effectiveness: Tap into the wealth of resources already available, but only those that are relevant to your unique child.

2) The FOUR pillars:
a) ORGANISE - The one platform.
Information, documents or responsibilities – manage everything about kids at your fingertips.

b) NURTURE - Right information at the right time:
Overwhelmed with resources around you? Let Nurturey’s algorithms proactively connect you only to the most relevant stuff.

c) TEAM-UP - Effortless sharing/ communication with other parents:
Coffee mornings, lost jumpers, invitations or general talks – plan and share effortlessly with other parents on Nurturey.

d) CHERISH - Accessible and meaningful memories:
Build and cherish meaningful memories - the whole story - of your kids and parenthood in ways beyond just pictures and videos.

Substantial accomplishments to date

Last year, 118 investors, many parents themselves, backed us with £72,240 (206% oversubscribed).

Since then, we've delivered value for the shareholder money, by accomplishing all the items listed below:

Product:
1) Built and launched consumer-ready web app - (www.nurturey.com)
2) iPhone app beta launched - Our app will be a game changer in driving user engagement.
3) Android app beta launched - completing our comprehensive multi-device experience.

Note: Please see the UPDATE section for details of how to download the iPhone and Android Beta apps.

B) User traction:
1) Our signed up user number is approaching 5 figures (within 5-6 months).
2) Sign ups from 30+ countries.

C) Branding:
1) Buzzing FB page with over 10,000 likes. (https://www.facebook.com/nurtureyonweb).
2) Weekly, our FaceBook page reaches over 350,000 of the target audience and engage with over 20,000 of them.
3) Print and TV media coverage.

Monetisation strategy

After achieving significant base of engaged users, we will implement one or a mix of the following revenue models:

We aim to make a total revenue of £50/YEAR per customer/family, through a combination of all these revenue models.

A) Transaction cut:
- We are building several algorithms. Based on the rich data, Nurturey's algorithms would connect parents to the most appropriate resources (free/paid, online/offline) at the most appropriate time.
- In case a paid transaction takes place, we believe we could charge a commission of 25-30%.
- e.g., On Nurturey' recommendation, if a consultation with a psychologist takes place or an e-learning product is purchased, we can charge a commission.

B) Subscription/Freemium based:
- Standard (free) and premium subscription. - While all features will be free, volumes of services may be limited. e.g. for more than 100 items in 'timeline', premium subscription required.

Currently we are not aiming to implement advertisements based business models.

Use of proceeds

Invest to build two pillars: Consumer (the King) and Product (the Queen)

Major objectives:
- Drive user base expansion and engagement.
- Enhance the product by adding flagship and addictive features across devices .

The money will be allocated approximately as below:
1) 40% Product enhancement.
2) 25% Marketing - user acquisition.
3) 15% Marketing - brand enhancement.
4) 17% Admin & overheads.
5) 3% Server and infrastructure.

Market

Target market

1) Customer segment:
Nurturey's customers are parents who are either in pregnancy phase or have kids in the age range of 0-10.
Our current launch aimed at parents with kids in 0-3 years range, but we will now expand this further with product enhancement.

2) Geographical segment:
a) We position Nurturey as a global platform, especially where English language works.
b) Our initial brand building efforts are in the UK, US and Indian market.
c) India is a key market for us, due to its world's largest youth (parents and soon to be parents) population. If we don’t build traction in India, a copycat competitor can become bigger.

3) Segment size (our estimates):
a) UK: approx. 4-5 million families in our target range.
b) India (top-25 Indian cities): There are aprox. 10-12 million middle class families in target range.
c) US: Approx 25 million in target range.

Just these first three markets themselves represent a segment size of over 40million families in the target range.

Characteristics of target market

We estimate our market size is £25 billion for UK, US and India.
This is an estimate of total revenue opportunities relevant to our monetisation strategy,which is the commission earning opportunities, on only non-school spend online by parents.

Our calculations are based on the following assumptions:
- 30% spend is done online, of all non-school spend by parents.
- 30% average commission opportunity, on each transaction, as sales agents.

Marketing strategy

A) Immediate to medium term strategy
We have developed our user acquisition and brand building capabilities around Facebook, for the following reasons:
- More than 10-15 million daily active FB users in our target base.

Our strategy is backed by the results so far.
-We have achieved, what we feel to be, a competitively low customer acquisition cost.
- Acquisition rate so far has been proportional to our marketing spend. In fact the rate tends to increase marginally faster on spend increase.
- We aim to increase daily sign up rate to more than 1000, once we have launched the app for public, by increasing acquisition spend.

B) Medium to long-term strategy:
With time we will also develop following three key channels:

1) Schools/ Parent networks/ Clubs:
- Market directly to primary/ preparatory schools to whom we will provide our free solutions.

2) Online advertisement channels:
- Ads on parenting websites such as, Mumsnet, Babycenter etc, which have many unique users per month each in target age group.

3) Referrals:
- As our user base will reach a critical mass, parent referral will have significant proportion in new customer acquisition.
- This will happen on referral or when parents create a group inviting other parents to join.

Competition strategy

1) Direct competitors:
- We are not aware of any competition with direct and significant overlap of features.

2) Indirect/Partial competitors:
a) Piecemeal solution providers or tools.
- Solutions such as kids photo up-load websites, on-line/printed family calendars, milestone trackers etc.
- We feel that such platforms bring neither a comprehensive nor frictionless experience for parents. We believe its not possible for parents to manage several solutions, and would rather prefer a single platform that is accessible, meaningful and easy to use.

b) School softwares:
- Some school softwares have extensions for parents. However these solutions are aimed at school-parent communication.
- Nurturey provides solution for Parent (and communication among parents), with limited extension to schools.
- In fact, we plan to partner with some school software solution providers, and Nurturey expects to emerge as the 'parent front-end' for school solutions.

3) Complementaries (content providers):
- Companies such as Babycenter, Mumsnet or e-learning platforms would be our complementaries.
- Nurturey is not a content provider and aims to often guide users to other content platforms as appropriate.

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This campaign for Nurturey has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 10 August 2015 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

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Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £1,205,368

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

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