🫀Humanity

On Dec 19, 2023 I invested $500 into Humanity - the first platform that uses AI and machine learning to understand what actions are working to slow aging and thus keep people healthier for longer, based on what's working for other Humanity users like them. Here’s why I invested:

🏃🏻 Rundown

founder story/problem/market-fit

The founders have already launched, scaled and exited B2C and B2B platforms that reached over 1 billion users and exited for hundreds of millions of dollars. They have deep expertise in consumer tech, scaling subscription businesses, viral growth, developing a high-performance and value-centric culture, fundraising and selling businesses. Here’s why Humanity must have been brought to life:

Most services focus on abstract measures that are too downstream from the body’s core functions that actually positively affect healthspan. The user is left with their main question unanswered. That question is: “Am I getting healthier?”

• Peter Ward - Co-Founder and CEO

  Multi-award winning co-founder & former CEO of WAYN (Where Are You Now?) - then the world's largest travel social network, exited to lastminute.com Group. Co-founder of ICE - a leading tech founder community & NED at Ocean Bottle. MIT, LBS & Cambridge.

   

• Michael Geer - Co-Founder and CSO

  Founding team of Badoo, scaled to 70m users & later sold for $3bn. Former COO at Dream Industries, WAYN & then AnchorFree which scaled to 900m users & sold majority stake for $300m. Co-founder of Impact.Tech & SocialGoodForProfit. Georgia Tech & Stanford.

• Peter Joshi - Chief Science Officer

  Genetic aging leader and former actuary with a PhD from University of Edinburgh. Specialised in measurement and understanding of biological age using high dimensional blood assays.

🧐 core business model

• SaaS/Subscription Freemium Model: Humanity has a 10x higher conversion to premium rate compared to industry average. Proving that people are quite happy to pay for a service that actually keeps them young and healthy.

  • 12% conversion to Premium, resulting in $16,000 monthly

    
    

• 4 Growth Factors according to Blitzscaling:

  • Market Size

    • TAM = Digital Health: 18.6% CAGR, from $211.0B in 2022 to $809.2B in 2030

    • SAM = AI Health: 37.5% CAGR, from $15.4B in 2022 to 208.2B in* 2030

    • SOM = Mobile Health Market: 39% CAGR from $58.2B to $123.1B+ in 2030

  • Gross Margins: Not publicly stated, 85% is expected.

  • Distribution: 25% organic, later through B2B pilots with hardware and software companies, health and wellness retailers.

  • Network Effects: Partners, referral systems, in-app gamification.

• 2 Growth Limiters according to Blitzscaling:

  • Lack of Product-Market Fit (PMF): Large retention rates stipulate product-market fit.

  • Operational Scalability: As they scale, their unit economics remain relatively little due to their model expenditure. Customer support and sales teams on B2B SaaS will have to be enhanced to comply with the needs of the retailers.

AI competitive advantage

1. Model builders, model integrators, or vertical enterprise players? Model builders.

2. Data Strategy: As model builders, they are building their own proprietary genetic/microbiome/epigenetics data and ML models. As they scale, both data and model accuracy improves.

3. Direct access to customers? Yes!

why you will too!

•  🙏 Existing Investors: Backed by top investors: Seedcamp, OneWay Ventures, co-founders of Calm, SweatCoin & One Medical etc. 

• ⬆️ Great F* Numbers: Humanity boasts 20k MAU with 10% MoM Growth with a 41% retention rate after 12 weeks(73% Premium). The projected figures for 2024 include $3.92 million in bookings and $1.94 million in revenues. Humanity's focus has been on developing a top-tier product with metrics that surpass leading apps in the category by 3-10 times. In 2024, efforts will be intensified to increase revenue.