Deal Abstract

ShiftPosts
Real-time workforce management platform for the healthcare industry

Integrated scheduling/job board solution for pharmacies. Has run rate in 2020 of $900k ARR at a $4m valuation. Is Canada healthcare innovation superior to U.S. healthcare innovation??

Financials (VRB)

|Question|Notes|
|---|---|---|
|1. Fundraising Target? |$2500000|
|2. Fundraised So Far?|$1532500|
|3. Pre-Money Valuation?|$4000000|
|4. Previous Year's Annual Revenue |$37464|
|5. Previous Year's Annual Burn |~$-684543|

Source

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? ****: Stillwater, MN
2. Has at least 2 founders? True: Two
3. Has product in the market? True:
4. 6 months of continuous user growth or 6 months of revenue? True: 'Monthly revenue grew 60% from May to June 2020, and is up 80% from July to August 2020 (unaudited), growing during and after the economic slowdown due to the pandemic...We are just over 300K annual revenue with an 8-900K run rate as of this month.. Thanks Moe for asxking. '
5. Notable investors? ****: Pat Fry who is an angel investor
6. Post-funding, will have 18 months of runway? True: Already has 18 months of runway at present
Source

The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)

Question Score Notes
1. Engineering? 2 Not sure this is breakthrough technology, but that's not necessarily bad.
2. Timing? 4 COVID has shown how important healthcare timing and coordination is.
3. Monopoly? 4 Canada! ('ShiftPosts current users are from many of the major Rx networks in Canada')
4. People? 2 Sparse info on all team members but can't argue with results.
5. Distribution? 3 See People comment.
6. Durability? 4 B2B SaaS-y
7. Secret? 3 Incubating an integrated scheduling/job board solution was more efficient in Canada, then enter the U.S. market.

What has to go right for the startup to return money on investment:

1. Enter the US: successfully and grow position like Canada;

2. Build out the Jobs Function:


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