Health Cost IQ

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Security Type
Crowd SAFE
Categories
Financial Services, Technology
Min Investment
$500
Location
CHANDLER, AZ
Offering Date
July 12, 2021
Expected Close Date
April 30, 2022
Target Raise
$25.00K-$1.07M
No. Investors
78
Security Price
$1
Website
healthcostiq.com
Number of Employees
5
Cash
$87,424
Revenue
$446,524
Short Term Debt
$212,024
Cost of Goods
$0
Long Term Debt
$331,600
Net Income
$-149,934

Company Description

Introducing Health Cost IQ, a healthcare software innovator with a mission to help employers, health plans, and other risk-holding fiduciaries identify and address the causes and sources of their ever-increasing healthcare costs.

Key Deal Facts

SaaS ecosystem that helps minimize excessive healthcare spending
1.5K+ companies and organizations on the platform
Grown revenue from $350K in 2018 to $610K in 2020
MRR of ~$52K as of June 2021
Current margins of ~80% as of June 2021
$2.5B TAM
Projected ARR of $67M by 2025

Use of Proceeds

  • Key hires, including new developers
  • Product development
  • Working capital
  • New sales and marketing team 

Management Team / Advisory Board Bios

Jude Odu, Founder & CEO

Dr. Lawrence Lubbers, Cofounder & Chief Strategy Officer

Ken Di Bella, President & Chief Revenue Officer
Amount Raised : $54,376
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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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
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The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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