Mindcurrent

Mindcurrent

AI that predicts and reduces stress across organizations.

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Security Type
SAFE
Categories
Other
Min Investment
$20
Offering Date
February 20, 2020
Expected Close Date
May 20, 2020
Target Raise
$50.00K-$500.00K
Deal Notes

20.0% discount

$25K+ pro rata right threshold

Valuation
$3,600,000

Company Description

Mindcurrent uses AI to reduce stress. Recognizing each user's unique pattern our algorithm predicts stress and provides personalized recommendations from leading experts. Users are rewarded for regular, habit-forming usage, and they can redeem or donate rewards to veterans, police officers, or students. Companies, schools, and nonprofit organizations can identify and reduce stressors across their teams without compromising individual privacy.

Perks

$1,000+ ADVOCATE: Get 25% off your first 3 months subscription. Mindcurrent Advocates will be (optionally) featured on our website. Join thought leaders from Fortune 500 companies, therapists, data scientists, best-selling authors, and self-made entrepreneurs.
$5,000+ INVESTOR: Get 50% off your first 3 months subscription. Mindcurrent Investors will be (optionally) individually featured on our website and invited to participate in our monthly online investor meetings.
$25,000+ VISIONARY: Previous perk + Spend a day with the Mindcurrent team in beautiful Beaverton, Oregon. Enjoy a special presentation of how Mindcurrent was formed, how we've evolved, and what’s ahead in our product roadmap. After the workday is over, join the team for dinner at one of Portland's finest restaurants with stunning views of the city. Lodging and transportation not included.

Key Deal Facts

Co-founders have 20+ years experience in behavioral psychology.
Co-founders have built and sold 3 successful tech startups.
Beta customers include first responders, healthcare, financial services, and tech companies.
Patent-pending Artificial Intelligence featured on NPR Radio and Neuroscience News.
2020 Beaverton Startup Challenge Winner and selected by Austin's Newchip Tech Accelerator.
Biometric and Psychology study in progress with the University of Texas at Dallas.

Use of Proceeds

If $50,000 is raised:

80% - Product development for on-time release of new version with updated UI, data aggregation (by org), and Apple Watch integration.10% - Marketing for new version, focused on small businesses and midsize companies, universities, and nonprofits. 7.5% - Wefunder fees, 2.5% - Hosting, Licensing, and Operating Costs

If $107,000 is raised:

70% - Product development for on-time release of new version with updated UI, data aggregation (by org), Apple Watch and Calendar integration.20% - Marketing for new version, focused on small businesses, midsize companies, pilot enterprise clients, universities, and nonprofits. 7.5% - Wefunder fees, 2.5% - Hosting, Licensing, and Operating Costs

Management Team / Advisory Board Bios

Sourabh Kothari
CEO, CFO, CMO
Sales and Marketing leader from Silicon Valley and Wall Street. Executive producer of Emmy-nominated programs.

Drew Brazier
Chief Product & Psychology Officer
Built 2 private coaching practices. Sold over $1M of online learning content. Personally coached NFL athletes and CEOs across the country.

Daniel Cunningham
CTO, CIO, CISO
3 successful tech exits (incl. IPO). Big data fanatic. Organic rancher. Active angel investor.

Deal Notes

20.0% discount

$25K+ pro rata right threshold

Amount Raised : $227,607
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Security Description

A SAFE is an agreement between you—the investor—and the company in which the company promises to give you a future equity stake based on the amount you invested. It also involves some kind of a triggering event that must take place in order for you to get your future equity stake. Be careful as you may only get equity if a particular event is triggered.

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