BePresent📱

Setting the Scene

• The majority of people are addicted to their phones and efforts to limit screen time are often ineffective.

• Common solutions to limit phone use include:

  • App Blockers: Which can easily be disabled or bypassed when the temptation to check the phone becomes too strong.

  • Deleting Apps: This is temporary at best, as users frequently redownload apps as soon as their urge returns.

• This week’s company reduces screen time by leveraging the same psychological techniques social media companies use to keep users addicted.

In a Sentence

BePresent is a platform that helps users reduce screen time by leveraging psychology-based social gamification and real-life rewards.

• Social Gamification: Users earn points, complete quests, and climb leaderboards for staying off their phones, replacing dopamine hits from scrolling with rewards for digital well-being.

• Real-Life Rewards: Partnered brands offer tangible rewards to users, incentivizing them to maintain healthier phone habits while engaging with the brand. 

The Basics

• Industry: Digital Wellness

• Headquarters: NYC

• Year Founded: 2023

• Employee Count: 2

• Investors: Half Court Ventures and several angels

• Amount Raised: $750k in pre-seed funding and recently received a term sheet for their seed

• Business Model: Consumer freemium subscription model, with plans for B2B subscriptions aimed at improving employee productivity

• Early Traction: $75k ARR (+60% MoM), 15k DAU (+32% MoM), retention rates 5x higher than industry average

IN PARTNERSHIP WITH

• Fidelity Private Shares cap table platform is the all-in-one tool that will help founders prepare for their next round of funding.

• This platform gives founders access to seed stage capital, equity scenario modeling, and premier support to generate, execute & store legal documents.

• As a valued member of the Bulletpitch community, we’d like to personally share a 20% discount for the product.

• Plus, if you’re coming from another platform, Fidelity has offered up its top-tier team to help transfer all docs for a seamless transition.

Due Diligence

WHAT WE LIKE

• Market Opportunity: The global digital wellness market is quickly approaching $1T, with consumers hoping to take greater control over their health in the same way they track fitness and nutrition.

• Phone Addiction: The average person spends hours a day on their phone, leading to concerning mental health outcomes such as anxiety, depression, and even heightened risks of accidents.

• Reverse Engineering: BePresent uses the same psychological techniques that make social apps addictive, but instead rewards users for reducing screen time rather than relying on restrictive app-blocking.

POTENTIAL RISKS

• Monetization: Relying on a freemium model presents a challenge for BePresent, as the need to generate revenue could conflict with keeping the product accessible and effective for users looking for a free solution.

• Behavior Change: While BePresent’s gamification initially draws users in, there’s a risk that without deeper behavioral reinforcement, short-term rewards may not drive lasting digital wellness habits.

• Paradoxical: While BePresent promotes reduced screen time, there’s a paradox in convincing users to engage with the app regularly while also trying to get them off their phones.

Founder Profile

• Jack Winston, CEO: Previously strategic partnerships at DraftKings and consulting at EY-Parthenon.

• Charles Winston, CTO: Previously a Software Engineer at Google.

Comps

• Opal: Backed by Adjacent, Speedinvest, Secocha Ventures and others.

• Clearspace: Backed by Y Combinator and Team Ignite Ventures.

Event Board

• Los Angeles Startup Soirée: On Thursday, we’re hosting an event in Los Angeles at a stunning penthouse with panoramic views of the city. It’s set to be an unforgettable evening with exceptional people, puppies, live jazz, and breathtaking views. Sign up HERE.

• Investor Gala, NYC: On November 7th, we’re bring together the next generation of New York’s venture capital and growth equity investors. This will be hosted at Silver Art’s 44,000 square foot artist residency and studio space in World Trade Center 4, often called the "YC for artists." Apply HERE.

• FOUNDERSGIVING NYC: On November 21st, we are hosting a hosting a Thanksgiving themed dinner in a stunning NYC penthouse for NYC’s top founders. Apply HERE.

Cast Your Vote

Last Week Today

• The Results Are In: ElectroKare, a company offering an electrolyte tracking technology to provide actionable insights, was not favored in last week’s poll.

• Subscriber Feedback: “I never realized the demand amongst athletes for Electrolyte tracking!”