© 2017 500 Startups

 OPTIMITY

Optimity is an AI-powered digital wellness platform that helps employers sustainably control costs and allows insurers to calculate risk in real-time, predictably.

 

ABOUT OPTIMITY

Optimity helps people live longer, feel better and systematically reduce their health risk using the science of micro-behavior coaching. We provide a mobile-first experience for users that sync with their current routines (their calendar, wearables, other health apps, etc.) to form small micro-habits that help them live happier and healthier. HR leaders use the Optimity administrator panel to launch Health Risk Assessments, access Educational Webinars, and coordinate Corporate Initiatives and Health Challenges across different departments/offices. Optimity tracks usage and outcomes, provides reports, and allows administrators to customize content and messaging all in one place. Optimity's backend is an AI-powered hyper-adaptive system designed to personalize content for each employee and reduce health costs for employers by bringing in their historical claims data. (We work with insurers to dynamically calculate risk scores, predict future claims, and create white-labeled B2C products.) Employers choose Optimity because of our track record in boosting employee wellness participation by 7-10x, launch 3-5x more programs to support their employees holistically, and track impact on their health costs.

BEFORE THE PROGRAM

CHALLENGES

  • High leakage: encountered difficulties managing an
    ever-expanding leads funnel

  • Inefficient email marketing: low open rates. Struggled to maintain targeted, customized messages when marketing at large volume

EXPECTATIONS

  • Instruction on how to increase marketing and sales efficiency

  • Strategies for lean growth hacking and marketing (on a budget!)

THE 500 APPROACH

  • Focus When Attacking a Market: Segmentation of leads, customization of the messages (writing mass contextual emails)

  • Practice Good Sales Hygiene: implementing strategies for nurturing and developing cold leads

  • Balance Senior and Junior Hires: Refining our hiring criteria led us to make two key hires to expand sales team. As result, we saw improved team productivity and increased revenue.

  • Test New Customer Segments: Strategic experimentation led us to identify an exciting new vertical with great potential

  • Qualify Investors and Customers: Learning how to be deliberate with our selection and segmentation led to more productive meetings and increased sales.

THE RESULTS

3X Revenue

Learning to stop and spot leakage (proper follow-up, sales hygiene) alone led to 4-5 deals. Such measures have tripled revenue to $419k ARR within 6 months of the program.

70% Opens

Customizing marketing at scale led to higher open & conversion rates. Our top campaigns reached a 70% open rate, more than quadrupling our previous results.

300% Growth

Guerrilla marketing and networking tactics helped us expand the quality and quantity of leads in our funnel. Our user base grew by more than 300%.

2 New Hires

After learning how to balance senior and junior hires, we refined our hiring criteria and made two key hires to expand the sales team. As result, we improved team productivity and increased revenue.

Jane Wang

CEO, Co-Founder

"The founders in our batch were stellar, motivated people, and every day we learned from each other. I loved the diversity… so many people from around the world doing so many different things!"

Nicholas Raditsis

Director of BD, Co-Founder

" 500’s Accelerator program gave us access to a large pool of experienced mentors that were generous with their time. During workshops, mentors spent 1-on-1 time showing (not just telling) us step by step how to execute growth strategies."

Stephan Massin

CTO, Co-Founder

"Shout out to Ryan Williams, Scott Craft, Bernard Huang, Matt Clark, and Mike Sigal! Our rapid pace of growth wouldn't have been possible without 500 Startups!"