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Part
01
Employee App Landscape
The available information about companies Beekeeper, Blink, SocialChorus, Crew, TheEMPLOYEEapp, and Guild has been provided in rows 2-7 columns B-G of the attached spreadsheet.
Research Strategy
To gather the required information, we searched through the websites and official profiles of the listed companies, and then we looked for press releases to get information that private companies generally do not provide freely, such as revenue or number of users. If there was no information in the mentioned sources, we consulted third-party providers like Hoovers or ZoomInfo.
Blink
- PitchBook provides only information about the amount of the latest deal (round) and some funding rounds, but not the total funding amount, so we have included funding information from Blink's profile on Crunchbase. However, even though Blink had three funding rounds (seed round, convertible note, and a venture round), the amount of money raised in the seed round (on March 1, 2014) was not provided, so besides the total funding, we only included information about convertible note and venture round in the cell B3 of the attached spreadsheet.
- The company generated $2 million annual recurring revenue (ARR) by the end of October 2020.
- As of October 2020, the company has 160 customers, which we assume are business customers.
Socialchorus, Inc.
- According to Crunchbase, the total funding that SocialChorus received is $47 million. The finding date is Dec 2, 2019. The latest investment the company received is from July 15, 2020. The amount was $100 million. Therefore, the total funding is $100 million+ $47 million= $147 million. Two companies, SocialChorus and Guild, did not list the industries, therefore to provide that information, we had to identify the industries to which their clients belong.
- The revenue is not publicly available. Some data providers like D&B Hoovers or Zoominfo published estimated revenue that ranges between $2.5 million to $34 million.
- Due to inconsistencies, N/A was entered for revenue in the attached spreadsheet.
The Employee app
- Crunchbase lists one funding round (seed round). The amount of money raised in this round was $1,300. The date was Dec 31, 2016.
- PitchBook lists two seed rounds but provides information only for one (date was 11-Jun-2015). The amount was $575,000. The other seed round was on Sep 19, 2016. Total funding, based on Crunchbase and PitchBook data, is $1,300+$575,000=$576,500.
- theEMPLOYEEapp did not publish information about the number of current users and the number of business customers. However, the article that informed the audience about the campaign that APPrise Mobile, developer of theEMPLOYEEapp, launched in May 2020 to celebrate National Nurses Month, revealed that, in 2020, 20 U.S. healthcare systems and 5,000 hospitals deployed this application. They also reported that more than 255,000 healthcare employees use this application. It is only one industry segment; however, in the absence of information on the number of users of this application in other industries, we have included number 5,020 (20 U.S. healthcare systems + 5,000 hospitals =5,020) as the minimum number of business customers and 255,000 as the minimum number of users of this application in the attached spreadsheet.
Conversions
Some transactions were not presented in US dollars, so we had to convert those to keep consistent currency throughout the report:
- Beekeeper raised $91 million in 8 rounds. Some transactions were presented in CHF, so we converted those to US$ with the conversion rate for the date of each transaction: grant — CHF 10,000 = $11,840 (Jun 21, 2011) and seed round — CHF 4.8 million = $4.966 (Apr 15, 2016).
- In May 2020, Blink raised €9.2 million = $10.08 million
- All transactions for Guild are presented in GBP (£): £100,000=$132,100 (Oct 31, 2017), £660,000=$891,000 (Jan 1, 2018), £120,000=$157,300 (Jul 18, 2018), and £600,000=$729,200 (Aug 1, 2019)
- Guild's revenue in 2019 was £522,700 = $690,200.