At a Glance
Mindtemp AB is a digital coach that prevents harmful stress and creates effective organizations through psychological safety.
Traction and Ask
With €10k net annual revenue expected in 2023 and 20 companies which participated in R&D, Mindtemp is now looking to raise €200k pre-seed funding. The ideal investor would have expertise in SaaS and B2B expansion all over Europe. The investment is needed to:
- Strengthen the team with 2 full-time sales managers to scale the updated version of Mindtemp and close 5 new customers before the end of 2023 in Sweden, where we already closed 2 customers.
- Scale up digital marketing, AB testing, to reach 2k Swedish companies (approx 1M users) and build a lead conversion process for 40 new customers, 20 new partners (resellers) and 1 major research study for improved validation.
- Translate Mindtemp in English and start building traction in large Swedish companies with English as a business language, thus building the foundation for international expansion.
- Develop stronger connections, through pilot studies, with strategic customers such as insurance companies and international brands such as Accenture and Ericsson.
Market, Business Model, Financials and Team
Founded in Stockholm, in 2021, Mindtemp is poised to capture a significant share of the global digital health and people analytics market. People analytics is a €4 billion market with 14% CAGR. Digital health tech is a €15 billion market with 27% CAGR.
Mindtemp is monetizing through SaaS subscriptions to B2B customers such as Stålskog AB and Revizz AB in Sweden. Q2 2024 Mindtemp will have a B2C version and attract innovators and early adopters through influencers such as Martina Johansson and HR tech, utilizing the “Slack Strategy” for further B2B penetration. Revenue growth is projected to reach €3.8M by Q4 2026 (breakeven in Q1 2025).
Mindtemp has 2 co-founders, Simon being CTO and Sverker being CEO with an US MBA, and by October 2023 Mindtemp will recruit 2 more full-time employees.
Mindtemp is the first advanced digital coach based on psychological research, advanced statistical analysis and generative AI. With the digital coach, Mindtemp supports line managers, HR and CEO with advanced visual and text based decision making, including key metrics for real time feedback. Providing a much better solution than current employee surveys.
The business model with partners is another key USP, since we will have a much shorter T2M, higher penetration and longer customer lifetime value.
The data and analytical capability is a third key USP that will attract large distribution partners, such as insurance companies with a white label, thus reducing their insurance cost (50% of all sick leaves are due to stress in Sweden with each sick leave being an average of 24 months!) through the support of Mindtemp proactive approach.
At a €2M pre-money valuation, Mindtemp aims to close this pre-seed round by January 2024. Minority investors have already committed to join with €10 – 20k. The minimum investment ticket size is €10k.
Mindtemp has already invested €200k in its own capital, including 6 years in technical and commercial development, and raised €15k from private investors and an Almi loan of €25k in sweden. After this investment round is secured, Mindtemp is fully ready for international commercial uptake.
Get in Touch
Sverker Månsson (CEO / Co-Founder) and the other founders are in discussions with both German and Swedish investors, and look forward to pitch, demo and open up their KPIs and financial plans in detail. Please let me know if this is of interest and I will arrange an introductory call.