According to the World Health Organization, burnout results from chronic workplace stress that has not been successfully ...
Avoid burnout and keep your best talent
According to the World Health Organization: “Burn-out results from chronic workplace stress that has not been successfully managed." It is characterized by three dimensions: feelings of exhaustion; increased mental apathy towards one’s job; and lack of confidence about your abilities. Burnt out employees are 63% more likely to take a sick day, 2.6x more likely to be actively seeking a different job, and 13% less confident in their performance.
“The talent turnover tsunami is here,” says Melissa Jezior, president and chief executive officer of Eagle Hill Consulting. “With vaccination rates climbing and workplaces reopening, employees increasingly feel confident looking elsewhere for a job. And that is highly problematic for employers given the acute labor shortage.” Burnout has always been a problem; but the pandemic has only amplified those feelings – so now more than ever, companies need to act.
Amplio’s AI technology provides the tools employers need to help employees avoid burnout
Organizations expect the front line manager to be actively working with employees to prevent burnout. This places too much burden on the manager to not only recognize burnout, but also know how to fix it. Amplio digitizes this whole process and removes the burden from the manager. Amplio is designed to help employees manage chronic stress. Using biometric data from wearables and our own blend of psychometric and cognitive testing, we monitor the three signs of burnout – they include mental and physical energy to check for signs of exhaustion, mental focus and engagement to check for signs of apathy, and confidence and anxiety to check if they are doubting their abilities. By monitoring these signs, we can let employees know if they are beginning to burn out and can provide recommendations to manage their stress to avoid it all together.
Manage chronic stress by measuring the signs of burnout
From the first time your employee opens the Amplio app, they will understand that it was designed to give a very personal experience. It starts with a series of onboarding questions that allows the AI to learn your preferences and personality, and create a baseline understanding of your abilities. Once you wear the wearable and interact with the app, the AI will start understanding what works and doesn’t work for you when it comes to managing your chronic stress levels. It will refine its recommended routines until it creates a solution specifically designed for you – one that you can do easily and that actually helps you manage your stress. It will continuously adapt its understanding of you as you or your environment changes. It's your AI now.
Converting DoD success into a commercial product
We are working closely with the DoD elite cyber units to understand the type of people they are and how they handle the chronic stress that is part of their everyday job. It’s a job that often involves shift work, where mistakes are disastrous, and where you have to be ready to perform when things go badly. This is very similar to the challenges faced by commercial cyber operators. In fact, many of the DoD operators go on to work in cyber groups in the finance market. Our success with our first $2.1M contract has led to a $3.6M follow-on, which will allow us to work with more operators and refine our MVP. On the back of our DoD success and by leveraging the goodwill of the cyber community, we’ll expand into cyber groups in financial companies. Once in a company, we will expand to other departments similar to Slack’s model.
Organizations find it hard to manage and keep key employees
According to a Fast Company/Harris poll, 48% of knowledge workers say they plan to change jobs and 38% of knowledge workers also say they are burnt out. Employers need to provide ways to help employees manage chronic stress and avoid burnout. Our focus will be on high pressure/high impact jobs where employees feel the stress of never being able to make a mistake and simultaneously having to perform at their best in any situation. We find careers in the finance, medical, and cyber markets are prone to high turnover and burnout. These will be our focus sectors with cyber being first. Since cyber workers exist in all industries, we plan to use them as a foothold to expand across organizations.
Our SaaS model enables large enterprise sales
Amplio utilizes a B2B enterprise SaaS-based subscription service with multiple tiers that scale based on the number of factors measured and degree of tailoring the suggestions need to be. As of June 2021, we currently have 70% GM and our largest client brings in $2.1M+ in revenue. We're focused on developing proof points through our existing pilots. Successful pilots will help us with customer acquisition, as well as expand our contracts with the DoD and corporate cyber teams.
Amplio's market is at the intersection of Corporate Wellness and Learning & Development. In 2020, the Corporate Wellness sector was worth $52.9B with a CAGR of 7%, while the Learning and Development sector was valued at $357.7B (CAGR 2-3%). In total, we have a $411B+ TAM and a $41B SAM—$10B from Corporate Wellness and $30B from Learning & Development.
Going from knowing there is a problem to solving it
Burnout is a huge problem for today's knowledge workers; and companies often don’t realize it's a problem until it's too late to save their employees. They rely on sentiment analysis of surveys conducted by our competitors to get a feeling for issues in the organization. This is a very inaccurate way to understand who is in trouble let alone how to help them. Amplio continuously monitors for signs of burnout in employees and lets them know early on so they can do something about it. We also tailor recommendations so they can manage the chronic stress causing their burnout, ultimately avoiding it altogether. Amplio makes for happier, more productive employees.
Reaching $15M+ in 2022 revenue through Cyber teams
Amplio's immediate goal is to build on our 2020 revenue of $2.1M (3-year contract paid upfront) to reach a projected $6.6M in revenue in 2021. With your investment, we plan to expand staffing from our current 9 members to 30 members. These resources will help to finish our MVP and support expansion into the commercial cyber market.
Why Cyber? 3.5M unfilled jobs. High turnover. A Ponemon Institute report found that 65% of cyber workers consider quitting due to burnout. Our pilot with DoD elite cyber forces will demonstrate our ability to improve readiness and retain talent, which will help us expand into the commercial market and achieve $15M in revenue in 2022.
$327K raised to date
Prior to our Republic campaign, Amplio raised $327K from investors like New Dominion. We are now raising funds to support reaching our 2022 target revenue goal. Immediate areas of growth include bringing on key hires and scaling our company number to 30 employees.
The right team
Amplio has the three components required for success.
Product development experience: Trung Tran, our CEO has brought 72 products to the market worth $2.2B.
AI development experience: Grant Gillary, our CTO, led an $800M AI project for the DoD.
Finally, experience in human performance. On the physical side, Andy Walshe, who ran Red Bull's Performance Lab, and Chris Talley, a world-class nutritionist who works with elite athletes. On the cognitive side, Dr. Elizabeth Johnson and Dr. Michael Platt, directors of the Wharton Neuroscience Institute.