- Investment sought:
- Equity offered:
The global mass participation sport market is growing; offering a diversity of events which is attracting people from all walks of life to participate in an event and achieve a personal goal. We are initially targeting the running market, then will move into cycling, obstacle racing and triathlon.
We believe our Adaptive Coaching Platform is changing the way people train for an event by addressing the reasons why so many fall off traditional training plans. We have found an incredible 1 in 5 fail to reach the start line!
The InYourStride platform specialises in the training sector of the market delivering a smarter, more effective way to train for an event. We empower our users to use their preferred app or wearable such as Strava, Garmin or Fitbit, to track their activity and feed into their custom/adaptive plan. The market is fully serviced with tracking apps and wearables, but we have found that no-one has delivered a smart training solution that addresses the 1 in 5 statistic.
Our Adaptive Coaching Engine (ACE) aims to directly address the issues associated with DNS (did not start):
-Creates a custom training plan - with step by step, novice friendly set-up based on each participant's individual schedule, current fitness levels and event goal
-Move sessions around - empowers the user to make changes to their training schedule. So when life events get in the way of training, sessions can be moved or cancelled and the plan will adapt
-Adapts to each users’ progress and activity levels - as the user progresses through their plan, our unique Adaptive Coaching Engine continuously tweaks each user’s personal plan based on pacing, training volume and sessions completed/missed
-Helps them stay motivated - with a race countdown dashboard showing what’s ahead, combined with features like ‘Time in Zones’ to provide performance feedback
-Our training platform supports runners in finding their perfect race goal from 20,000 global events, through the tough hours of training, to arriving at the start line - prepared, motivated and ready to have an amazing race day.
The user experience is designed to be guiding, encouraging and to empower the user. When adaptive changes are made, there is transparency so the user know what is going on. Behind the scenes an array of sessions, datasets and algorithms do the clever work individualising each plan
Our training sessions are designed to be variable and maintain the interest of the participant. Every session is constructed with a warm-up, main section and cool down. We also include motivational training features too, like ‘Pick ups’ or ‘strides’ to break up longer sessions.
In getting more participants to the start line, we would also bring significant commercial benefits to the organisations involved in events:
-Charities raise more funds
-Event sponsors get more exposure
-Race organisers provide better support for their participants
-Participants are more likely to return, lowering acquisition costs for organisers
Substantial accomplishments to date
We've achieved a lot and we're ready for the next stage of growth. So far we’ve:
· Soft launched- on iOS into running market to test beta platform
· Created largest in-app database- 20,000 global running events
· Tested platform on 1,200 early adopters- from this user group our plans were rated 4.1 out of 5.
· Created route-to-market- through 30 partnerships with key industry brands, race organisers and charities - including Sweatshop, Mizuno, Achieve Events (Virgin Sport), MoRunning and Newton Running. Current partnerships on the table give us access to millions of participants.
· Tested partnership model - generating 6% conversion rates from initial tests
· Named in ‘Top 6 Running Apps’ by press - we’ve received great reviews in sports, health and UK national press including ‘Best for Training’
· Licensing enquiries- from two global fitness brands to support their customers - Virgin Sport and Mizuno.
InYourStride targets active, committed runners who have already invested in entering a race. These runners need a higher level of support than the casual runner and are more likely to invest in achieving their goal.
The app is free to download and set up an adaptive training plan. If the user requires advanced features like 'Insights' or integration with third party devices an annual subscription is £14.99, or an ongoing monthly subscription is £2.99.
Primary route to market is through partnerships with race organisers, giving us direct access to the runners with race goals. This gives us a low cost, scalable alternative to expensive direct-to-consumer channels.
Additional revenue streams:
> In-app advertising - banner adverts served in the app on a CPM basis.
> Licensing to race organisers - fixed license fee to offer the app to all participants of a single race or series.
> Licensing to sport brands - creating brand specific versions or licensing our ACE technology to consumer brands.
> Licensing to charities and corporates - fixed license fee to offer the app to all charity place runners & employees
> Participant recruitment - offering race organisers smart targeting to our users who have just completed race goals
> Offering promotion opportunities to sports brands within our emails to registered users.
Use of proceeds
We are currently raising £200k of which we have already secured £100k through Crowdcube. This raise will fund:
-Development and launch V2 of Adaptive Coaching Engine
V2 would enable us to launch our subscription model and expand our market reach onto web and app based platforms
-The arrival of web based platforms will enable us to fulfil current partnerships, giving us access to millions of participants
V2 has a more advanced ‘rules based’ adaptive engine that will enable us to launch into other fast growing mass participation sports such as cycling and triathlon
Manage and grow our partners UK and North America
Our primary route to market is through partnerships with race organisers, charities and sports brands
Having successfully created over 30 partnerships, we now need to grow these relationships and invest time in securing more. Our principle territories are UK and North America, where we’ve received a favourable response from partners of all types