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Parlay isn't accepting new investments

Parlay’s deadline was August 1, 2018

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Parlay

Control the future of the products you use
Software B2B SaaS Apps Collaboration
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$144,222
Raised
260
Investors
Successfully funded and closed on August 1, 2018.
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Pitch Updates 12 Reviews 59
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Closed on August 1, 2018. Information may not be up-to-date. Campaign closed on August 1, 2018. Information displayed may not be up-to-date.

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Parlay App, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Parlay Crowd SAFE
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Hear from some of the 260 investors in Parlay


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Deal highlights

  • A 'Customer Collaboration Platform' for software companies and their users
  • Companies can accurately validate & dramatically de-risk development efforts
  • Users can unite and together influence the direction of all of the products they use
  • Founded by 3 startup vets with multiple successful exits, including HubSpot (IPO)
  • Massive opportunity – potential customers include all global software companies
  • Idea tested & refined over 2.5 years with real users
  • Open beta launched April 26, 2018
  • Out of more than 1000 startups, in top 10 at Collision Conference's pitch competition


The Problem.

Teams waste millions on apps and features nobody wants.

Product development is a huge, ongoing expense for teams.

Every month, software companies spend thousands of hours and millions of dollars updating and building product features. In general, the smaller the company, the more it spends on product development, with the fastest growing teams currently spending on average around 44% of their entire budget each year on product updates. 


Despite this significant investment, most teams have no idea what the impact of their expensive product updates will be until after they've already built them. Why?


People have no say in the creation of the products they use.

When was the last time a designer or developer from a product you use contacted you and asked for your say in the direction of new or existing features? For most, the answer is never. That's because rather than talking to customers directly, nearly everything software teams know about their users wants and needs are either gained indirectly (through passive observation rather than active communication) or from another team at the company (such as through the sales process or incoming customer support tickets). Because of this, the information software teams use as a basis for ongoing software development is often inaccurate, unclear, biased, or simply not actionable.

The result: a whole lot of expensive and time-consuming duds.

The Solution: Parlay.

Control the future of the products you use.

A customer collaboration platform.

Parlay dramatically transforms how companies engage their customers in order to build better products. Through Parlay, teams can engage their customers in a far more proactive and personal manner, giving both sides the tools they need to share new ideas, review potential product updates, validate the impact of future efforts, and dramatically de-risk the cost of new feature development – all before they write a single line of code. In short, Parlay allows software teams to treat the people using their products not just as a bunch of paying customers, but rather as an army of potential collaborators. 

Built for people on both sides of the platform.

For Users:

  • Collaborate directly with the designers & developers of the products you use.
  • Control the direction and creation of all of those products, at no additional cost.
  • Connect with other users to dictate which features should – or shouldn't – be built.

For Companies:

  • Prioritize your development efforts by accurately estimating new feature impact.
  • Validate that new features are being designed the right way the first time.
  • Identify your anti-roadmap by weeding out duds long before development.
  • Boost user satisfaction by engaging them as collaborators, not just customers.

How it Works: 

A great product is the result of great listening.

Parlay lets teams accurately determine the impact of potential new features long before they spend the precious time and money building them – all thanks to their users.

Know Before You Build. Teams can preview new feature ideas directly inside of their existing product, all without writing any code.
An Army of Collaborators. Users can review proposed features,  rate their general sentiment, and  suggest alternative paths or features.
Get It Right the First Time. Parlay then analyzes this user sentiment  and feedback to determine which features  a team should build, change, or kill.

Parlay fundamentally transforms how teams effectively identify, engage, and collaborate with users. The result: better products and better relationships – at a fraction of the cost.


Interactive Demo






The Opportunity. 

Gonna need a bigger boat.

External validation.

Parlay launched its open beta on April 26, 2018. We will provide updates here as we onboard companies and transition out of beta in the coming weeks. Separately, Parlay has been covered by multiple media outlets, received positive reactions from some of the industry's most notable people and companies, and – out of more than 1000 startups – is in the top 10 in Collision Conference's pitch competition – America's fastest growing tech conference. The final pitch event takes place in New Orleans on May 2, 2018.

Testimonials.



Total addressable market.

Parlay's market is substantial and only getting bigger, with potential customers including all global digital product companies and professionals. Today, software revenues are in the range of $600B annually, and expected to grow by more than 60% over the next 10 years. Every single one of these businesses is a potential customer. Even if Parlay captures only 1% of the market, it's still a multi-billion dollar opportunity.

In the near term, though, Parlay is focused on 3 target markets:

  • 1.8M small & mid-sized software companies. With the highest execution risk & greatest need to learn and innovate quickly, these teams are a natural fit for Parlay. 
  • 100,000 software development agencies. Already building software for their own customers, these teams can use Parlay to better support their clients, while also acting as a distribution partner by selling Parlay to their clients.
  • 20,000 genesis-stage SaaS startups. Actively seeking product:market fit, founders of early-stage software startups can use Parlay from the very beginning.

Pricing and adoption.

At launch, we expect the average monthly subscription to Parlay to be $50 for the SMB market, our largest initial potential customer base. This mirrors base pricing for similarly sized and positioned companies in our space, and the familiarity will help us avoid sticker shock while still monetizing in a manner which will allow for future upsell. We will offer two payment options: on a monthly recurring basis, or an annual subscription paid up front in exchange for a 10% discount on the monthly price. 

We support multiple pricing tiers depending on the size and maturity of the customer. Initially, we will support 3 tiers: 'Early Stage', 'Team', and 'Enterprise'. Tiers will differ by included functionality, in particular by the number of simultaneously allowed active previews and the number of connected products or apps. We will segment 'Team' and 'Enterprise' pricing according to a threshold of Monthly Active Users, meaning the number of customers Parlay's customer has.  Over time, we will continue to differentiate these pricing tiers by including new functionality in only the higher priced tiers.

The Plan.

Where we're going & how we're getting there.

Where we're going.

  • Early stage SaaS & mobile app teams. With roughly 20k SaaS startups and more than 5M mobile apps, this is the natural entry point for Parlay’s current platform, requiring little education and a clear product/market fit.
  • Agency reseller partnerships. One of the greatest challenges facing software development agencies is moving from project-based revenue to recurring revenue. Parlay provides a solution to this; letting agencies sell Parlay to their clients as part of a revenue sharing agreement not only expands our market share, but also provides them with recurring revenue.
  • Go deep on the core preview mechanic. Following the launch of our core platform, we will focus on building out a more flexible, robust, & predictive feature preview system, solidifying our unique value in market.
  • Go broad to address additional buyer personas. We will continue to expand Parlay through key technical integrations, the purpose of which are to attract new members of the product team, allowing us to upsell our customers.

The long-term vision.

While we believe Parlay is a powerful tool for digital product teams today, we believe its value will grow exponentially over the next few years. 


The Founders.

A few good men.


Join us in Changing the Future of Software

Deal terms


Valuation cap

$6,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

20%

If a trigger event for Parlay occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$100

The smallest investment amount that Parlay is accepting.
Learn more

Funding goal

$800K

Parlay must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $800K.
Learn more

Deadline
Parlay needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Parlay App, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Parlay Crowd SAFE

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Parlay.
Invest
$100
Receive
  • A huge thank you from us, roughly 3 years of heartfelt gratitude, plus a spot in Parlay's inaugural Rock, Paper, Scissors global tournament (seriously... games are best of 7).
Invest
$500
Receive
  • 1 year of access to Parlay's 'Team' membership level, plus the above.
Invest
$1,500
Receive
  • An 'Investor' profile badge inside of Parlay, unique investor-level Parlay merchandise, plus all of the above.
Invest
$5,000
Receive
  • A unique spot on Parlay's website as a 'Founding Partner', hands-on Parlay implementation, 1-hour product audit from the Parlay team, plus all of the above.
Invest
$15,000
Receive
  • Lifetime Parlay 'Team'-level membership, 2 hour in-person workshop with our CEO Keith (travel not included), plus all of the above.
Invest
$30,000
Receive
  • Invitation to participate in Parlay's next board member weekend retreat in St. Louis (travel not included), plus all of the above.
Invest
$100,000
Receive
  • A custom interactive demo for your site or product (similar to Parlay's at try.parlay.ai), plus all of the above.

Why others invested

See all reviews (0) See all (0)

I have been in product management for a long time, I recognize the benefits of a tool that enables collaboration with users. I like the potential here.

Profile picture of Marcus Varnai
Marcus Varnai
Active investor
almost 7 years ago

I have full conviction in such an experienced team and founders having massive success in 2 previous startups to boot!! Need I say more? These guys walk the walk

Profile picture of Anthony Seddon
Anthony Seddon
Active investor
almost 7 years ago

1. Strong funding team with experiences in startups that either went public or got acquired. 2. Product has the potential to support other use cases. 3. Creates a new sub-category and currently no competitors provide similar products.

Profile picture of Yating Xia
Yating Xia
Active investor
almost 7 years ago

About Parlay

Legal Name
Parlay App, Inc.
Founded
May 2017
Form
Delaware Corporation
Employees
0
Website
parlor.io
Social Media
Headquarters
Google Map location of of Parlay
72 Glen Road , Wilmington, MA
Headquarters
72 Glen Road, Wilmington, MA, United States 01887

Parlay Team
Everyone helping build Parlay, not limited to employees

Profile picture of Keith Frankel
Keith Frankel
Co-founder & CEO
Featured in Superheroes · Read
Formerly the Head of Creative & Design at HubSpot (IPO) and Chief Product Officer at Firecracker (acquired). Techstars & Capital Innovators accelerator mentor. Host of CreativeMornings, a global lecture series. Prefers Grease 2 over the original.
Profile picture of Jason Zopf
Jason Zopf
Co-founder & CTO
Formerly Senior Engineer at Firecracker (acquired), founding instructor & Experience Engineer at Launch Academy, and Web Developer at LaunchWare. Graduated from University of Pennsylvania (MD) and Bates College (BS). All around good guy.
Profile picture of Jonah Stuart
Jonah Stuart
Co-founder & Chief Design Officer
Formerly Senior Product Designer at Smarterer (acquired), Product Designer at Robin (VC backed), and Senior UX Designer at Firecracker (acquired). Graduated from the Pratt Institute. Wife thinks he funds way too many Kickstarter projects.
Profile picture of Rich Thornett
Rich Thornett
Advisor; Founder of Dribbble (acquired)
Profile picture of Randy Parker
Randy Parker
Advisor; Founder of Constant Contact (acquired)
2 more team members
Keith Frankel
Co-founder & CEO
Jason Zopf
Co-founder & CTO
Rich Thornett
Advisor; Founder of Dribbble (acquired)
Randy Parker
Advisor; Founder of Constant Contact (acquired)
Jonah Stuart
Co-founder & Chief Design Officer

Press

Putting customers first: Parlay founder story
Republic Republic
·
Jun 20, 2018

Most product development teams think they know what their customers want. Keith Frankel thinks that they're wrong. That's...

Parlay - Keith Frankel's Startup Gives Sneak Previews of ...
VentureFizz VentureFizz
·
May 22, 2018

“The initial premise of Parlay was, ‘The time to test a product should be zero,’” said Parlay Co-Founder Keith Frankel.

The Former HubSpotter Changing the Game of Product Develo...
Kingscrowd Kingscrowd
·
May 22, 2018

With every dollar in a startup mattering, the difference between investing in a product feature customers like and don’t ...

Startup Showcase: Parlay on Chicago Talk Radio
WGN Radio - 720 AM WGN Radio - 720 AM
·
May 5, 2018

Today on the show Scott Kitun talks with Howard Tullman, the Executive Director of the Ed Kaplan Family Institute for Inn...

Hub's Newest Startup Parlay Bets on Customer Input
AmericanInno AmericanInno
·
Apr 27, 2018

A new startup that aims to take the error out of the trial and error process that so many companies endure has just launc...

Logo of Parlay

Parlay

Parlay successfully raised $144,222 from 260 investors on August 1, 2018
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Walter J., Michael, Shaun, Ken, christian, and 255 others invested. 59 Reviews
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