This year we had the opportunity to bring back Utah's original grassroots startup festival: StartFEST. One of our favorit...
Workplace injuries cost companies $171B every year
Over $171B is spent annually in the United States on workplace injuries*. Every incident eliminated frees up $42,000!
Today, safety is managed via hundreds of inefficient, paper processes. This picture represents one month’s worth of daily pre-task planning cards, by one subcontractor, on a big construction project.
Edify reduces workplace injuries and accidents
Edify is hyper-focused on helping every employee be safe, productive, and happy. Customers using Edify have shown real reductions in costs related to workplace injuries--and these savings don't even take into account the positive impact on a worker's personal life!
People-focused intelligence driven safety solution
Edify’s human aware intelligence helps each person learn and practice safe behaviors to minimize injuries and accidents
Through proven and easy to use apps, Edify engages end users and drives a safety mindset, building a culture of safety from the CEO down to every worker: saving lives, reducing injuries, and improving culture, productivity, and profitability. Edify aggregates large amounts of data every day and uses artificial intelligence to coach each person to practice safe behaviors, so that incidents can be stopped before they happen.
Customers include the largest builders and insurance companies.
Edify has contracts with the largest builders, construction companies, insurance companies, and insurance brokerages in the United States. These organizations support over $50 Billion in annual construction spend, and have over $20M in potential revenue for Edify. Contracts include a Fortune 50 Tech company building data centers all over the world, the largest construction insurance brokerage in the US, one of the largest insurers in the Western US, and multiple top 50 general contractors. Our revenue has grown from $25K in 2018 to nearly $450K in 2020, and on track for over $1M in 2021.
Existing contracts have $20M ARR potential
Edify does not need marketing for new leads. Existing contracts have the potential to grow annual revenue by 40x!
By expanding within existing customers, selling through contracted distribution channels, up-selling to existing users, and leveraging the network effects inherent in construction, Edify can grow its business significantly without marketing to new customers!
Edify has already proven this model with one of its prime customers, starting with one project and growing it into a strategic relationship across multiple projects and partners.
Revenue is driven by subscription, renewals, and leveraging our most valued asset—the data.
Edify replaces stodgy, paper-based safety processes to make frontline workers more productive--which will drive renewals as Edify becomes the primary safety tool used everyday. In the process, Edify gathers valuable data to use with our AI to identify risk and help reduce injuries.
Focusing on construction initially, and expanding to other safety industries like mining, energy, utilities, and manufacturing Edify will grow dramatically over the next few years.
With Edify's People-focused AI, our technology has massive potential in any work environment to drive engagement, productivity, and profitability--exponentially expanding our market potential.
$8.6B+ market by 2024 in safety, nearly unlimited in risk and insurance
Safety processes are similar across dangerous industries--meaning Edify's technology will transfer well. There are 32.5M+ potential users in the US alone, and our target market will be worth $8.6B+ by 2024.
As Edify's AI gets better at predicting risk, Edify will expand into the insurance markets with a primary focus on Worker's Compensation--a $56 Billion market.
Edify focuses on reducing incidents to reduce claims
Edify’s unique competitive advantages are our proprietary AI technology, our dedication to frontline workers, and our focus on claims reduction, not compliance. Our solution works because it drives behavioral change to eliminate the potential of an injury before it happens.
Use people-focused AI to drive behavioral change and increase workplace safety
People-focused means just that--focused on the frontline worker because they are the ones who get hurt. We are hyper-focused on engaging every worker in safety every day so that incidents, injuries, and deaths become rare.
Over the next two years, Edify will focus on scaling sales and further optimizing our AI to reduce injuries. As the AI improves, Edify will shift to a value-based pricing model--significantly increasing Edify's growth potential and valuation.
Capital raise of $2M-$3M
Edify is currently raising capital to support 18 months of runway, which gives us enough time to prove our scalable sales model, and further optimize our proprietary AI to prepare us for massive scale. We have previously raised $700K from friends and family in convertible notes. This seed round is intended to go towards expanding our existing contracts, driving growth through existing channels, and additional investment in AI.
Founders with deep experience, multiple exits, and a passion to help frontline workers
Cory Linton, CEO and Founder
25 years experience in software, including 9 years at Microsoft
Most recently COO at School Improvement Network, where he helped grow the company from $2.5M to over $46M prior to exiting to a strategic buyer.
MBA from Columbia Business School
Brian Kennedy, CTO and Co-founder
23 yrs of development experience, 18 yrs management and startup experience
Oversaw the development of multiple AI, machine learninging, and Natural Language Processing applications, including several for blue chip cients such as Department of Defense, Department of Energy, the FBI and American Express.
Deep expertise in the Microsoft stack (client, server, and cloud, LAMP stack, general AI, natural language processing, deep learning, information security, and defense security.
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