Emoquo provides an innovative app-based personal coaching service, aiming to alleviate stress and help foster a better, more productive working environment.
Emoquo was a SyndicateRoom lift round and is currently awaiting closure pending final checks.
Stress, anxiety and dissatisfaction in the workplace are problems which affect most of the world. In fact, it is a sensation that affects 1,510 per 100,000 workers in the UK alone, resulting in 11.7m working days being lost. Emoquo is an app-based solution to real problems faced by employees worldwide.
Unlike 'virtual coaching', which involves people booking time with coaches for sessions delivered via Skype or other IM platforms, Emoquo is a purely digital experience, which aims to take around five minutes per session. Emoquo operates in a market worth $74.3bn which is growing every year. Having already experienced some success with its desktop offering, the business is now piloting mobile applications.
Through a series of short coaching questions, the user is guided to identify the real issue, the cause and the impact, and then gets practical and contextual advice – in the moment – drawn from the best coaches and therapists. This advice comes in the form of short videos, audio and text-based content assembled in a way that is meant to be user-friendly, relevant and appealing to various learning styles.
In late 2016, the company was one of eight startups that were accepted on the PWC SwiftScale programme, which included mentoring, workshops and introductions.
The charging model for the Digital Coach is an annual subscription charged on a per-user basis. Current charging is ~£50 per user for an annual subscription. The user subscription varies by number of licences on a sliding scale to a lower bound of ~£15 per annum (£1.25 per user per month) for large-volume multi-user contracts.
Abigail Rappoport is a highly experienced commercial leader who joined Emoquo as CEO in November 2015. Prior to this position, she was a senior executive at Microsoft for 11 years. Her most recent role as the leader of a $1bn business saw her bring Office 365 to market and be part of the small global team that was behind the product reaching its first 1 million users. Previous roles at the company include Head of Customer Experience, UK and Partner Strategy Lead, EMEA.
The lead investor
Novus Investments aims to build companies that address critical unmet market needs and have global potential. This is achieved by managing and supporting investments in growing technology-based entrepreneurial businesses, primarily in the human resources and life sciences sectors
The team prefers ‘high-potential businesses that have a proven technology and are in the early stages of commercialisation'.
The combination of a significant unmet market need with an inspirational solution has produced this compelling opportunity.
Gary Wetherall, Partner at Novus Investments