eprof.com investor deck [full - april 2014]
TRANSCRIPT
© 2014 EPROF EDUCATION INC.
The eProf Edu-Commerce Platform helps education businesses embrace online delivery of their services and content, adding new revenue streams without the technological challenges.
With eProf, users create online teaching websites, powered by a built-in e-commerce engine and tools to help them manage their business.
Company Overview | Elevator Pitch
Overview
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Federally incorporated - July 13th, 2012
Based out of MaRS Discovery District - Toronto, Canada
5 Full-Time Employees - 1 Founder, 1 Marketer, 3 Engineers
$220,000 funding to date - JOLT Accelerator + government grants + founder’s investment
Early Stages of Revenue - 40 Paying Clients, 350+ Business Accounts, $1k MRR
© 2014 EPROF EDUCATION INC.
Company Overview | Dates & Statistics
Overview
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© 2014 EPROF EDUCATION INC.
Target Market | The Education Mid-Market
Opportunity
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Key challenges faced by traditional education businesses
Revenues are down as online services create pricing pressure and steal students away from traditional brick-and-mortar learning.
Growth is limited as client base is restricted by geography, and local competition for students and instructors is fierce.
Customer Problems | The Mid-Market is Struggling
Opportunity
Edu-Businesses have been left out of the EdTech Revolution. But now is their time!
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Market Opportunity | Room for Improvement
© 2014 EPROF EDUCATION INC.
There are two solutions that exist for education businesses to bring their services online today.
Rely on a marketplace business to allow you to be discovered in a directory of your competitors. Minimal opportunity to differentiate.
Integrate eCommerce tools into your website, manage multiple software subscriptions, face tech challenges alone, create a distraction from your existing offline business.
Join a marketplace Do it yourself
Opportunity
There has tobe a better way!
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Our Solution | What eProf Provides
© 2014 EPROF EDUCATION INC.
A completely turnkey platform to run an education business online
Solution
Branded Website
eCommerce Engine
World-Class Teaching Tools
Tiered User Architecture
Logistics Management
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© 2014 EPROF EDUCATION INC.
Dashboard to oversee and manage all aspects of their business
Online Course and Class creation (capabilities for asynchronous and synchronous)
Scheduling, registration, reminders and requests infrastructure
eCommerce engine (payment processing, discount codes, student shopping cart)
Built-in communication tools for teachers and students, including virtual classrooms
Our clients get…
User Perspectives | Educators & Businesses
Solution
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© 2014 EPROF EDUCATION INC.
End users see…
A branded & responsive website they can browse from their phone, tablet, or PC
Storefront showcasing educational services available for sale
Instructor profiles, ability to send messages and make requests
Online classes and courses, downloadable files and materials, discussion boards
Solution
User Perspectives | Students / Parents
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© 2014 EPROF EDUCATION INC.
Break down geographical barriers that limit student acquisition.
Ownership of their online presence and ability to run their business and deliver content on their own terms.
The best technology in one unified solution, rather than a number of disjointed pieces of software. Fully automated e-commerce engine for sales, instead of manual processes.
Meet student/parent expectations of convenience while maintaining the brand recognition and personal touch that sets their business apart.
Customer Benefits | Why Our Clients Love eProf
Solution
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© 2014 EPROF EDUCATION INC.
25-45 years old
Business owner with goals to grow revenues and reach more students online
Limited technical expertise
Has an existing website that is inefficient, outdated, difficult to manage
Has looked into online teaching but hasn’t found a platform that works for him
Customers
“eProf has been instrumental in the organization and delivery of our online tutoring sessions. The tools provided in the back-end help organize and track the delivery of our online tutoring. They accomplish this while also delivering a front end product experience that has been hugely effective for both our students and instructors. All said, eProf makes it easier to run my business and deliver a great service. “
Taylor Christie - Cognition Prep
Eric EducatorTutoring Business Owner, Entrepreneur
Customer Profile | Our Typical User
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© 2014 EPROF EDUCATION INC.
Basic$0 upfront fee
ProfessionalStarting at $49/month
Basic plan users have accessto eProf ’s core features
for free. They get a custom, co-branded website, all
scheduling, curriculum planning, and payment tools built in.
eProf takes a 20% commission on all classes/courses they run
(industry standard revenue split).
Pro users have access to core and premium features for a base $49/month + $29 per additional
instructor. Their website is completely white labeled, and they have access to premium
features and themes.
eProf takes a 5% commission on all classes/courses they run.
Business Model | Freemium Software-as-a-Service
Model
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© 2014 EPROF EDUCATION INC.
Outbound sales calls and online demos, custom pricing (including training + design costs), focus on annual contracts with upfront payment.
Customers
Inbound marketing techniques lead to a self-serve product with automated on-boarding, engagement emails and resources for success.
Customer Acquisition | Conversion Methods
Solo Educators, Tutors + Small-Medium Businesses
Large Businesses + Enterprises
eProf uses a combination of inbound and outbound tactics to acquire new customers
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© 2014 EPROF EDUCATION INC.
Customers
250 accounts active in Jan&Feb + 3000 businesses in sales pipeline
Total in North America
InstructorsPer Account
Average Cost of Pro Monthly Subscription
Sales Cycle to Pro Conversion CAC
Individual Educators / Tutors 2M+ 1 $49
Automated onboarding, 1 hour personal touch
points$0 - $100
Independent SMBs 120K 2-10 $165
Automated onboarding, 2-4 hours personal
touch points~$250
Large Businesses /Enterprises 75 20-1500 $1K+
Custom onboarding, 1-6 month pilot to start, 5-10
hours personal touch points~$1K
Sales Pipeline | Key Figures
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© 2014 EPROF EDUCATION INC.
How We’re Different…
Competition
eProf is the only company that brings together ALL of the following elements that are essential for running an online education business:
Competitive Landscape |
Intuitive, user-friendly interface
Focus on e-commerce and generating new revenues through selling of education content, both synchronous and asynchronous
Customized / white-labeled website for clients that clients can use to attract students and showcase their services
Open architecture allowing for use of multiple online teaching venues, catering to different teaching styles and subject matter
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© 2014 EPROF EDUCATION INC.
Feature# of Online Teaching
Venues 1 1 0 1 5
Max # of Live Video Streams 6 6 0 8 20
Curriculum Building
Scheduling System
eCommerce Focus
Account Branding
Intuitive, User-Friendly Design
Education-FocusedFeatures & Development
Free pricing option?
Starting SubscriptionPrice per Month $19 $19 $5 $49 $49
System works with Offline teaching as well?
Competition
How Do We Stack Up?Competitive Landscape |
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© 2014 EPROF EDUCATION INC.
6 key reasons why eProf is positioned for success...
Investment Highlights
Why You Should Invest…Investment Highlights |
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© 2014 EPROF EDUCATION INC.
eProf is perfectly positioned to capitalize on this inevitable market movement.
Education & training businesses will be coming online aggressively in the next 2-5 years. No market leader has emerged for them to flock to.
Investment Highlights
Perfect TimingInvestment Highlights |
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© 2014 EPROF EDUCATION INC. PRIVATE AND CONFIDENTIAL - DO NOT REDISTRIBUTE
Ruby on Rails web application - 350,000 lines of code
2+ years of development -1000s of hours of testing
Load-balanced cloud hosting via Rackspace
Key technology partners:
Kaltura, LogMeIn, Watchitoo, WePay, OpenTok
Technology Spec
eProf is the engine that will power Edu-Commerce. We have already built that engine and are ready to scale.
Investment Highlights
Strong ProductInvestment Highlights |
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Products demo’ed
© 2014 EPROF EDUCATION INC.
2+100s
1000+2000+ Customer conversations
Years in EdTech sector
Online classes tested
Investment Highlights
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Market Expertise Investment Highlights |
The eProf team knows the market cold, having been immersed in the space for 2+ years. eProf has a first mover advantage in EduCommerce.
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© 2014 EPROF EDUCATION INC.
Basic
eProf is set up to scale it’s premium product offerings:
20 Classes / Month10GB Content Storage
Unlimited Classes40GB Content StoragePhone & Email Support
Unlimited Classes80GB Content StoragePhone & Email Support
Session RecordingAnalytics & Reporting
Unlimited ClassesUnlimited Content Storage
Phone & Email SupportSession Recording
Analytics & ReportingWhite-Labeled Checkout
Investment Highlights
Pro Premium Unlimited
Current Mid-Late 2014
Exciting RoadmapInvestment Highlights |
API development in mid-2014 will enable an in-app marketplace where plugins and premium themes will be sold to clients on all subscription packages.
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© 2014 EPROF EDUCATION INC.
eProf enables education businesses to leverage the best education & eCommerce technology to expand their reach online.
Investment Highlights
eProf Puts It All Together eProf strategically chooses what functionality should be built in-house and what should be integrated. eProf forges partnerships with world-class software providers and performs integrations to bring together the core technology that edu-businesses need to succeed, in one unified platform.
Open ArchitectureInvestment Highlights |
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© 2014 EPROF EDUCATION INC.
TeachStreet ($3M total funding) acquired by Amazon - April 2012
Betterfly ($5M total funding) acquired by TakeLessons - Feb. 2014
Tutor-Group (ESL learning service) $100M raise - Feb. 2014
2U (Online delivery for HigherEd) $100M IPO - Feb. 2014
$1.1BRaised by EdTechCompanies in 2012
Investment Highlights
eProf is entering a red-hot market ripe with acquisitions
$169BeLearning market by 2018
Precedent TransactionsInvestment Highlights |
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International markets eProf app to be adapted for foreign languages: Significant demand already for French, Spanish, Portguese, Mandarin.
All deviceseProf can scale across platforms, offering users the ability to teach and learn through native iOS and Android applications.
© 2014 EPROF EDUCATION INC.
eProf can scale to international markets and all devices
Investment Highlights
Long Term Growth Investment Highlights |
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© 2014 EPROF EDUCATION INC.
“Why bother building a company in/around eCommerce? That is the easiest question – the answer is… in the US alone online sales will grow about 15% increase this year and over the next four years will grow from ~$260 billion to this year to ~$370 billion in 2017. It is very early and many new companies will play large roles in the future of eCommerce and at the same time those playing leading roles now will play even larger roles in the future.”
- Greg Bettinelli, Upfront Ventures investor
Investment Highlights
Long Term Outlook Investment Highlights |
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© 2014 EPROF EDUCATION INC.
Organization
Evan Lewis Andrew Rains Phillip Ingram
eProf ManagementOur Team |
CEO CMO CTOIvey HBA
Web developerEdTech enthusiast
Strong leaderSkilled salesman
Queen’s BADigital marketer
Formerly:Head of Sales - Syncapse
President - 63Social Corp.
Brock BASoftware Developer
7+ Years - Ruby on RailsFormerly:TD Bank
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© 2014 EPROF EDUCATION INC.
Organization
Krista JonesEducation Innovation LeadMaRS Discovery District
Kerri GoldenManaging PartnerJOLT Fund, LP
Joe WilsonEducation Innovation LeadMaRS Discovery District
Strong Business NetworkeProf Advisors |
David ChiltonCanadian EntrepreneurVenture Capitalist
Gerry GabonSales ProfessionalBizDev @ ExpertFile
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© 2014 EPROF EDUCATION INC.
Contact
Evan Lewis, [email protected]
Andrew Rains, [email protected]
Contact Us |
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We’d Love To Hear From You