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Mystery Vibe

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MysteryVibe creates award-winning, doctor-recommended sexual health devices.

100%
 - 
Funded 22 Apr 2021
£350,002 target
£352,684 from 640 investors
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Business overview

Location London, United Kingdom
Social media
Website mysteryvibe.com
Sectors Healthcare Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 09040033
Incorporation date 14 May 2014
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Investment summary

Type Equity
Valuation (pre-money) £19.2M
Equity offered 1.80%
Tax relief

EIS

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Business highlights

  • $1m in direct sales in 2020; Up 2.5x from 2019. 20+ Intl. Awards.
  • 50k+ customers in 65+ countries. 3 FDA-Class II products.
  • Sexual health market is rapidly growing; Estimated $125B in 2025.
  • Backed with £5m+ seed funding including Virgin Startups.
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Key features

  • Secondary Market
  • Seedrs nominee min. £18.50 +

Idea

Introduction

We created MysteryVibe to address one of our biggest challenges - keeping the mystery in the bedroom after major life events like childbirth, menopause, cancer treatment or surgery.

To make this happen, we combined our deep research & engineering expertise with leading doctors to create devices that address major sexual health issues such as erectile dysfunction, dryness & pain during intercourse.

We work closely with sexual health experts to be at the forefront of research & develop thought-leadership that act as catalysts for people to start those much-needed conversations to elevate their sexual wellbeing.

Over the past 6 years, we have become a world leader in sexual health with our multi award-winning products and content. We have changed over 50,000 lives in 65 countries and ramping up rapidly.

Substantial accomplishments to date

🚀 $1m direct sales in 2020. A 2.5X growth over 2019 direct sales ($400k)*
🙏 Over 50,000 customers in 65+ countries ... 50,000 lives improved.
🍏 App downloaded almost 1 million times (938k+)

*based on unaudited management accounts

🥇 1st startup to partner with Google Home & get free sex education into 50m+ homes
🥇 1st sexual health startup to be featured on a BBC documentary

🩺 All our 3 products are FDA-Class 2 devices
🔌 Our tech supports leading firms like Church & Dwight and PainCareLabs.
🏆 20+ International Awards including the highly coveted Design Week Awards where Crescendo beat Apple Watch.

💰 Raised over £5m in seed funding including from Virgin Startups.
👼 Backed by leading angel investors, including senior executives from Tech, Finance, Media and Health.

Monetisation strategy

Our monetisation strategy is 4-fold: • Device sales in health • Device sales in pleasure • Referral income from content • Technology partnerships.

We acquire our direct customers via Organic search, paid ads, brand and content partnerships

Our device sales channels are 3-fold: • Direct consumer • Indirect via resellers • Referrals from partners

Majority of our revenue currently comes from our device sales where we command high price points & margins.

As we grow we see a huge potential in scaling our referral revenue since sexual health and wellness is one of the most searched topics online with huge questions in this space.

Use of proceeds

25% on digital marketing
• Expand content and Organic aquisition
• Expand paid search, display & partnerships
• Scale direct sales more rapidly

25% on new product development, research & studies
• Launching 2 new products this year
• Research & Development for next 2 products launching in 2022
• Medical studies on further applications of our products in various sexual health issues

25% on team expansion
• Expand marketing and sales teams
• Expand product, research & medical teams
• Bring more of our functions in-house to scale faster

25% on inventory building
• To support sales projections all the way till mid-2022
• Further reduce unit cost with volume purchase & production optimizations

Current salaries & overheads covered by current company income.

Please note, this campaign is part of our larger series A round where we are currently raising £2m with the potential to raise up to £5m over the next year.

Investor perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key Information

Outstanding debt

Please note the business has the following outstanding debt:

£50,000 Barclays bounce back loan with monthly repayments of £886.28 and 2.5% interest per annum. 05/06/2026 is the end date.

£49,968.12 with Uncapped Limited. This is not a fixed term loan. Repayment is determined by sales on Uncapped Limited. This usually takes roughly 5 months so end date is estimated at June 2021.

$55,463.24 loan with Shopify Capital. Shopify have a revenue share of 13%. This is not a fixed term loan. Repayment is determined by sales on Shopify. This usually takes roughly 5 months so end date is estimated at May 2021.

£9,666.77 Virgin Start Up Loan/Street UK CIC. Monthly repayment of £387.23 with 6% interest per annum. The end date is 07/08/2023.

£901,076.21 director loans. Monthly repayments of £4,505.38 with 6% interest per annum. The business can pay this off whenever the company decide with no penalty.

Please note funds raised as part of this round will not be used to repay existing debt.

Share classes

Please note there are two share classes in the business. Ordinary investor shares and Ordinary B founder growth shares. Ordinary B shares only share pro rata in exit or liquidation proceeds above £15m.

Investors in this raise will receive Ordinary shares.

Pre-money valuation

The total pre-money valuation does not factor in a share option pool of around 13%, made up of growth shares which only share in proceeds above £15m.

The ordinary B shares do not have any preference.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £19,231,675

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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