Lustro Comments

Discuss this Deal with other Investors


Claim My Business
Security Type
Common Stock
Healthcare & Medical
Min Investment
Offering Date
August 29, 2023
Expected Close Date
November 27, 2023
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

WhiteFlag App is a free, customized, peer-to-peer support app where users instantly and anonymously connect with someone who has been through or is going through the same mental health struggles and challenges. Unlike other peer-to-peer apps on the market, WhiteFlag connects its users with someone who has actually experienced their plight. It does not pay, train, certify, or coach anyone on how to talk like its competitors do. This allows for a real, raw, unfettered connection with someone speaking from the heart and experience with no ulterior motive other than to provide support. Users on the app truly find out that they are not alone and that there is hope and peace on the other side of their fight.

WhiteFlag App is revolutionizing mental health support by providing a free, anonymous, peer-to-peer platform that connects users who struggle with similar mental health challenges. The company is still in the pre-revenue, in-market, growth stage. The company plans to monetize by providing information on much-needed and requested resources by the users in the form of advertising. Additionally, WhiteFlag will offer premium options where users can pay to opt out of seeing advertisements if they so choose. Additional premium options include a subscription to chat 24/7 with a peer support specialist or even a therapist. The company will also offer a Platform As A Service model. The PAAS option will allow employers, first responders, organizations, universities, insurance companies, and the like to offer their employees or members a customized version of WhiteFlag strictly for them where they will instantly and anonymously connect with co-workers and/or fellow members who are going through the same things. 

The mental health and wellness market exceeded 79B in 2022 and is expected to exceed 105B by 2029 (Fortune Business Insights). Every one in five Americans has mental health issues. Wisdo, TalkLife, and some Al support apps are its closest competitors. WhiteFlag has the least amount of hurdles and hoops to offering and/or receiving support on the market since the support providers are not ‘trained’ or ‘certified’ before being allowed to offer peer support. It has assembled a team of mental health influencers with a combined reach of over 20 million people in order to rapidly expand and increase its user base. 

The app has 105k+ downloads. 34k+ White Flags have been raised and 991k+ messages of support have been delivered on the app. It has also been recognized by Healthtech challengers, HITMC and FastCompany. Since its launch in October 2021, it has partnered with some of the biggest names in behavioral health, non-profits, veteran’s groups, universities, and health & wellness centers in America. Additionally, it has garnered over 40,000 downloads including 25,000 from a single viral video! At this stage, it is focusing on user acquisition and growth, technology improvements and updates, new features such as the resource guide and group chat, and the expansion of its partnerships to additional major names in healthcare, non-profit, professional, and collegiate sports, and education. The company does not have any revenues.

Use of Proceeds

The company plans to use the proceeds for R&D, user acquisition, company employment, working capital, and platform fees.

Management Team / Advisory Board Bios

The team is very strong and has experienced and skilled members to take the business forward.

DJonathan "Jonny" McCoy, CEO/Founder/Director
Jonny is a successful business owner, entrepreneur, civil rights attorney, movement builder, and philanthropist who has founded charities as well as participated on many Boards. He is also a trauma survivor, mental health advocate, and founder of peer support groups. Jonny’s professional life has seen him raise money, manage the organization, plan, and budget for a business doing 1M+ in revenue. He has made appearances on the Today Show, 48 Hours, Dateline, the New York Times, and the Washington Post, and gives motivational and keynote speeches around the country. This is his first startup and he is working full time with the company.

William "Billy" Howard Jr., Co-Founder/Chief Investment Officer/Director
Billy Howard is an entrepreneur, business owner, developer, and revenue strategist who has over 20 years of experience in managing businesses, raising capital, roadmapping, and forecasting. Additionally, Billy, who graduated from Darla Moore School of Business in Columbia, SC with a double major in finance and management, sits on several Boards. A passionate mental health advocate, Billy now focuses his energy on passion projects that make the world a better place. 

Trent Tinker, Co-Founder/Chief Technology Officer/Director
Trent has two decades of experience developing next-generation solutions for government agencies and large system integrators. Trent has a Computer Science degree from the College of Charleston. He spent the last two decades developing and managing the development of geospatial applications for industry leaders in the field. This includes Esri, the Microsoft of GIS, and Hexagon, a global leader in sensor, software, and autonomous solutions.

The management team also comprises Chief Officers of Product, Operations, Impact, Medical, Advocacy, Content, and Veterans Affairs along with the Executive Vice President and Marketing Director. 

Valuation Notes

White Flag has valued itself at $25M pre-money. The company has raised over $2.3M from investors around the US. In March 2023, it entered into a convertible notes agreement for $850k at 7% interest per annum. The valuation seems high for the current stage of the product.

Amount Raised : $110,953
Reveal the Score by Voting
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.

Security Description

Common stock is a security that represents ownership in a corporation.

Research Reports

No reports have been submitted

Become a Reporter