Vator Splash Health 2016

Vator Splash Health 2016

All contestants:
Feather
Location: Memphis, Tennessee, United States United States
Founded in: 2015
Stage: Revenue generating
Number of employees: 6-15
Funding history:
- Date: 05/2015, Accelerator/Incubator: $25 k
Short URL: vator.co/feather
Awards and mentions
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Fellows will take part in a special segment of New Orleans Entrepreneur Week—hosted by The Idea Village—on March 11-18 in New Orleans, Louisiana. Fellows will showcase their ideas to investors, participate in programmatic workshops, and connect with fellow entrepreneurs, industry experts, and mentors.
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Feather

Homecare with Love
Startup/business
Memphis, Tennessee, United States United States
http://www.joinfeather.com

Feather is an online marketplace that helps families find, hire, and coordinate in-home senior care through a web and mobile app. Feather give families and caregivers the ability to control their relationship, which promotes more consistent care for seniors. We help seniors get great in-home and we offer caregivers more pay for their work.

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Company description

Feather is a mobile marketplace that helps families find, hire, and coordinate in home senior care through a web and mobile app. Our technology connects seniors with capable and compatible independent caregivers who meet their specific needs and eliminates many of the overhead costs that traditional  senior care agencies have, and we pass these savings along to our users. Clients using Feather can save up to 25%, and caregivers can make up to 50% more than what traditional agencies offer.

With Feather, families can find the perfect caregiver for their loved ones on their terms and on their schedule.  There’s no waiting list or appointments necessary.  Every caregiver on Feather has certifications and experience, has passed a 7 year background check as well as a social and cognitive ability assessment, and has been personally interviewed by our team of experts.  On top of connecting you to trusted caregivers, Feather is available 24/7.  You can check in on your loved one and communicate with your caregiver through our web and mobile app anytime, anywhere.


 

 

 


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Team
  • Rachel Fuller
    Rachel Fuller | Founder
    CEO & Co-Founder of Feather. Graduate of University of Memphis Cecil C. Humphreys School of Law. First-time founder and entrepreneur.
  • Nick Fuller
    Nick Fuller | Founder
    I'm the President, Co-Founder of Feather. I wear the CRO/COO hats most of the time, and I make a mean cup of joe and norcal margarita. Previous CEO, Co-Founder of City Torch. Proud TCU and University of Memphis Alumni.
  • Evan Black
    Evan Black | Founder
    My name is Evan Black. I am pursuing a B.S. in Computer Science at the University of Memphis. I'm the CTO of Feather, "an online marketplace where families can find, hire, and coordinate in home care." I make sure all the bits are in order.
Business model

Initially we will have a flat rate fee of $20 per hour and a tiered fee structure based on the caregivers experience level. For instance, the majority of caregivers in Memphis will received $15  per hour and Feather will receive $5 of the total client hourly charge. 
Clients have an monthly expected average hourly demand of 87 hours of care. At $20 per hour of care, that represents a monthly recurring revenue (MRR) of $435. Annually, we expect an  average client will spend $20,880 in total charges on Feather versus the national average $42,000 per year in an assisted living facility. On average we estimate an average cost time using Feather of 2 years with a Lifetime value of $10,550 per client.

Competitive advantage

Our matching algorithm is one of our biggest differentiators from our competitors.  Our competitors do not use any automated functions to match clients and caregivers.  Those that do claim to have a matching algorithm, like Home Hero, still only have very basic tag matching, and it’s not front-facing for clients and families to to use to find their own caregivers.  No one else uses soft factors, like personality and interests, to make caregiver recommendations.  Such distinctions not only make our recommendations more accurate and useful, but also help Feather build trust with its users. 
Furthermore, besides our better and more automated matching process, our on-boarding process is more scalable than some of our competitors.  Honor requires that all their new clients schedule a home visit from an Honor representative.  This requires a lot of time and human capital on their part, and is also inconvenient for families and seniors.  It’s similar to the same sorts hoops that agencies make their customers jump through to get access to a caregiver that have become a pain point.

Investors
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