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