Deal highlights

• New mobile app that allows people to protect and profit from their health data
• Launching pilot targeting 1.5 million member patient community in Q2 of 2019
• Total addressable market size of ~$80B by 2020
• Winner of '17 Consensys Blockchain Hackathon and part of Startup Health accelerator 
• CEO is an ex-NASA scientist, and a serial tech entrepreneur with multiple exits
• President worked directly with global entrepreneurs including Pete Peterson, Jim Balsillie, Bill Janeway, and others on the Forbes 400 list
• Advisory Board includes former CTO of US Health Department, former Global Board Chair of Planned Parenthood, and former CFO/CIO of Covance
• Raised Pre-Seed round from strategic investors including blockchain VC Centrality

THE PROBLEM

The healthcare market is inefficient

It's expensive

Healthcare is projected to be a nearly $9 trillion dollar global market by 2020. In 2016 alone, the US spent $3.3 trillion (17% of GDP) on healthcare-related expenditures. It is estimated that more than $1 trillion is wasted every year to health system inefficiencies. 

There are major financial gaps

37% of Americans can't afford a $100 medical bill, and that's a huge problem. 64% of patients are delaying health treatment until they have the money to pay for it, resulting in poor health outcomes and skyrocketing national health costs. Financial barriers to care are even more crippling in transition economies, which drive 7.5% of the total growth in global health spending. 

Your health data is bought and sold daily, without your knowledge or consent

Not only is this an invasion of privacy, it's bad business. Lack of direct patient engagement makes it difficult for the healthcare industry to conduct highly targeted marketing campaigns, to incentivize people to take healthy actions, and to collect real-time, real-world health data from patients at scale. This leads to higher costs for research and development, advertising and medication non-adherence. Health information is more valuable to industry buyers if it's connected to you, and if it can be used to engage you in the conversation.

THE SOLUTION

CoverUS is creating a new health data business – powered by you 

Rather than accepting the status quo of third-party data brokers collecting and profiting from your most private information, the CoverUS App will enable you to take control of your health data and earn money.

VIEW APP DEMO VIDEO

Note: The CoverUS app and platform described in the video at the top of the page are still under development; the features and business capabilities demonstrated here are not yet functional and may require acceptance by various organizations in the health and financial industries in order to be successful.

CoverUS solves big problems for the healthcare industry

Not comfortable with complete strangers knowing your most intimate medical details? Neither are we.

Widespread hacking of personal data – from Yahoo!, to eBay, to Equifax – and the high value of health information has made healthcare the industry most affected by data breaches. With sweeping new European privacy laws providing global challenges, and US states like California following suit, companies handling sensitive data must embrace innovative solutions to increase transparency, security, and privacy. 

CoverUS has you covered. Our RESPECT data governance framework allows CoverUS members to decide what data they want to share and with whom they want to share it. They can also adjust sharing permissions over time. This ensures compliance with strict data standards like HIPAA and GDPR.  

HOW IT WORKS

CoverUS is putting your health data to work

CoverUS is creating a two-sided marketplace between consumers and healthcare companies:

• Companies pay you for sharing health data, responding to targeted ads, and engaging in healthy behaviors. 
• Individuals can earn money while protecting their privacy using the CoverUS App.

Business model

CoverUS makes money when members create uniquely rich health data profiles and respond to targeted, revenue-earning offers from the healthcare industry. Our transaction fee model means we only profit when our members do.

Our plan is to become the world's leading health data broker with direct patient consent – selling custom data and insights to the healthcare industry and creating a regular stream of income for all CoverUS members who opt in.

First pilot on the way

Launching with access to a 1.5 million patient population and driving adoption by strategic partners 

CoverUS achieves scale by working with distribution partners in healthcare and beyond. We are developing our first GTM partnership with an online patient community of 1.5 million people suffering from one of the more costly chronic diseases. Additional partnerships are being negotiated with leading medical, advertising, and health IT companies. We will leverage our experience in working with governments and large issue-based organizations with the goal of bringing the CoverUS app to everyone, everywhere.

Tapping into a ~$80B market

CoverUS will target global markets including Electronic Health Records (EHRs / EMRs), Mobile Health, and Telehealth. These sectors are projected to grow at an average compound annual growth rate (CAGR) of 19.15%. 

Competitive landscape

If recent growth in the personal data market is any indication, multiple major players will emerge in the health data space. Our team has been empowering and engaging consumers at scale for decades, and CoverUS is well positioned to not only compete with, but to also collaborate with several of the companies listed below. 

What we've done and where we're going

Your investment will power CoverUS into its next phase

Having completed phase I product ideation and design, the CoverUS App is in the development stage. We will use the funds from our Crowdfunding round as follows*:

1. App development and maintenance: Expand the CoverUS app's feature set beyond the pilot phase to commercial use. 
2. Regulation, compliance, and privacy: Work with our strong team of lawyers and data privacy experts to refine the CoverUS RESPECT framework for data sovereignty, and incorporate it into the first public version of our app.
3. Business development and sales: Expand our sales team, adding distribution partners and revenue-generating industry clients. 
4. Marketing and operations: Targeted marketing to increase product awareness, drive individual sign ups, and build relationships via our thought leadership in data security and privacy.

*Note that funds raised up to our minimum funding goal will be devoted primarily to Marketing and Operations (including for the crowdfunding campaign itself), while the other categories will receive proportionally a greater allocation of the proceeds if we raise more than the minimum goal.

An investor-friendly opportunity

Digital health is known to be one of the hottest markets for venture capital. Our unique value proposition places us directly in 7 of the 10 most active sub-sectors for investments in the digital health industry:

We couldn't (and wouldn't) do this without you

The CoverUS team has experience in creating, growing, and exiting successful startups. 

We launched this equity crowdfunding campaign because we believe that you should have the opportunity to own not just your data – but also a piece of the company that is putting the power of data in your hands.

Join CoverUS – this is what the future looks like. 

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