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Tiimo

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The award-winning app for people with ADHD and autism. Technology that truly makes a difference.

115%
 - 
Funded 29 Jan 2020
€340,021 target
€392,862 from 307 investors
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Business overview

Location Copenhagen, Denmark
Social media
Website www.tiimoapp.com
Sectors Healthcare Digital B2C
Company number 36904089
Incorporation date 6 Dec 2019
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Investment summary

Type Equity
Valuation (pre-money) €3.6M
Equity offered 9.93%
Tax relief N/A
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Business highlights

  • More than 15,000 downloads
  • Reaching 1400 active subscribers
  • Best Social Impact Startup award
  • Investment from the founders of the edtech company Kahoot!
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Key features

  • Secondary Market
  • Seedrs nominee min. €24.60 +

Idea

Introduction

Tiimo is the award-winning app for people with ADHD and autism. With its pleasing visuals, ability to help with specific cognitive difficulties and improvement of daily routines, Tiimo is on a mission to improve everyday life for people with ADHD and autism worldwide.

Tiimo was designed in continuous consultation with ADHD families and experts around scientifically recognized methods to support independence, focus and participation in everyday life.

But, we have even bigger plans for Tiimo. Our product vision is to become the new global standard in assistive technologies by using machine learning to collect and analyze real-world feedback on the end-users daily mood, routines and symptoms. This will enable the continuous improvement of diagnosis and treatment in ADHD and autism.

With an international subscriber base coming from 49 different countries, MRR since launch in 2018 and €75,000 in revenue over the past year, we are building an international company around technology that truly makes a difference.

Intended impact

Brushing your teeth. Eating breakfast. Taking your medicine.

These everyday activities may seem simple and straightforward. However, for someone with ADHD and/or autism, simple routines can be hard to remember and complete. Memory loss, anxiety, hyperactivity and inattention strongly impacts the development, education and family life of many people with these conditions.

It is estimated that approx. 204 million children and adults worldwide today have ADHD and 76 milllion people today have autism, and this number is growing.

Tiimo is the answer to a fundamental lack of inclusive and functional digital tools for people with ADHD and autism. Many existing solutions are outdated, analogue and stigmatising. We are changing this! The user of our discrete app is guided and supported by visuals, a gamified design, visual timeline and motivating reminders.

Tiimo has been designed with the aim to increase focus, independence, and confidence for the individual, and to reduce conflict with parents or caretakers, so they can spend less time on planning and managing others.

Substantial accomplishments to date

- More than 15,000 downloads.

- Reaching 1400 active subscribers and generating €75,000 in revenue the past year.

- International subscriber base from 49 different countries.

- Positive LTV:CAC ratio.

- Won the "Citizens Award" at CareWare in 2017, Wondertech Summit "Innovator of the Year" award in May 2019 and "Best Social Impact Startup" award in Denmark at the Nordic Startup Awards in October 2019.

- Featured on Forbes.com, as well as the Danish version of "Dragons Den" in 2019.

- Letters of support for Tiimo product innovation from internationally renowned research centres, hospitals and clinics such as Cincinnati Children's Hospital (US), Berlin School of Mind And Brain (GER) and Centre for Research in Autism at UCL (UK).

- Partnership with Daniel M. Jones from "The Aspie World", one of the largest autism influencers in the world, with +100,000 subscribers on Youtube and 137,000 followers across all social media.

Timeline:

2016: Receives €264,000 grant from the Market Development Fund in Denmark to develop and test Tiimo.

2016: Releases pilot version 1.0 for Android.

2017: Receives €260,000 private investment from business angels.

2018: Launch of the iOS and Android app in Denmark. First paying subscribers.

2019: Launch of the iOS and Android app worldwide in English. First paying international subscribers.

2019: 1400 subscribers

Another positive customer testimonial:

Monetisation strategy

The Tiimo business model is simple: we offer a 30-day free trial with a monthly subscription price of €9.99 after the free trial. You can sign up on our website or simply download and sign up directly in the app through the App Store and Google Play Store for iOS and Android respectively.

This means we have been generating revenue since we launched in 2018.

Our app is available worldwide in English and Danish on a monthly subscription for private individuals / families (B2C) and yearly subscriptions for municipalities/therapists (B2B).

We believe we have an extremely scalable company because our customer acquisition is global and digital.

As a subscriber, you can use Tiimo on an unlimited number of devices on smartphones, smartwatches and tablets, share the subscription with up to 5 different family members and get access to our customer support.

Use of proceeds

With solid international traction, proven digital marketing channels and product-market fit, it's time to scale! We have a strong team in design, tech and marketing in place already, so our Seedrs proceeds will go almost exclusively towards:

• Marketing of Tiimo to users in UK, US, Canada, Australia and New Zealand.

• Localizing the app to spur organic growth in South Korea, Japan, Germany, France, Spanish speaking countries, Italy, Benelux and the Nordics.

• Hiring one additional app developer and our International Partnership & Community Manager, Anna, on a full-time basis.

Goals:

• Increase the subscriber base of our existing service to 5,000 by EY 2020 and 10,000 by EY 2021.

• Improve the current app, as well as engage in product innovation and development to collect and analyze real-world feedback on the end-users daily mood, routines and symptoms. This would be truly innovative for ADHD and autism treatment, which at the moment is extremely analogue and time consuming.

Key information

The company has received a loan from the Danish Growth Fund for €250,000 at an interest rate of 9% + variable 3 month CIBOR. The loan repayment is to start in January 2023, and due to be fully repaid by January 2026. None of the funds raised will be used to repay this loan.

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

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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

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 €3,562,648

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.

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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.

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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.

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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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