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ELEVATE DIVE: May Investor Update
Added new technical cofounder!
“"If you're not embarrassed by the first version of your product, you've launched too late." Reid Hoffman
TL;DR. (Quick summary)
We added a new technical Co-Founder!
A letter from me to you.
Sharing is caring! Users can now share workouts, recipes and posts in DMs!
Improved User Experience for CrossFit Workouts
One serving size does not fit all! Revamped Macro Adjuster!
If you'd like to catch up and discuss Elevate’s next steps. Let's schedule a quick 30 min call here: https://calendly.com/elevate-health/30min
What is Elevate?
Elevate is a health-centric social network that revolves around speeding up how gym workouts and diets are logged by powering users' cameras with patent-pending technology. We believe our tech will become the gold standard for consumers tracking their daily fitness goals, minimizing 90% of the typing typically done on apps across the industry. We are building a new segment in digital health which we call camera-utilized tracking.
See for yourself with our new Tutorial!
Goals for April:
Increase DAU:MAU to 40% ❌ [37%] 📈 5% MoM
Integrate and Deploy Push Notifications.✅
Implement App Store Optimization intiative.✅
Grow the number of influencers partners to 25.❌
Collection & Implementation of CrossFit data. ✅
2 New Versions (1.2.3), (1.2.4) — Unlimited Caption length on posts. Seamless Barcode scanning integrated into Build-A-Meal. New Search Design for workouts, recipes & friends. New serving size slider. Increased cardio measurement options.
A Letter from me to you.
We have added a new technical cofounder to the team. I am thrilled to announce that I recently completed a Software Engineering Immersive Bootcamp and am now officially the other full-stack developer on the Elevate founding team! It has been a long and challenging journey, but I am proud to say that it was worth it.
As you know, Elevate is a technology company that has been living on the edge of the limits of computer science. While I have what I believe is one of the rare 100x engineers as my co-founder, we recognized that we needed additional support to keep Elevate moving forward at lightning speed. That's why I decided to take on the challenge of completing a coding bootcamp to add to my skill set.
Over the past four months, I have spent countless hours in the coding trenches, honing my technical skills and pushing myself to new heights. It was not easy, and there were times when I had to take a step back from Elevate to focus on this journey. However, with the unwavering support of my co-founder Rich, I was able to complete the bootcamp on May 1st and emerge with newfound confidence and skills.
With two technical co-founders on board, we are now poised to take Elevate to the next level. We are confident that our combined expertise and passion for technology, fitness and growth will help us to continue to build a strong technical foundation that skyrockets Elevate’s trajectory.
I want to take this opportunity to express my gratitude to you. Our earliest believers, for your continued support. We couldn't have come this far without you, and we look forward to sharing our progress with you in the months and years ahead.
Thank you for your belief in us.
We officially went live with V1.0 of our Beta on January 1st. In the previous 4 months we’ve focused on one thing. User feedback. We’ve only shared Elevate with our network of friends, family and early proof-of-concept waitlisters. We’ve been working hard to analyze the feedback we’ve received and make improvements to the app.
Our #1 goal for this upcoming quarter is to gain 5000 active monthly users. We have enlisted the help of some micro-influencers to help generate awareness and engagement. We are confident that this will help us reach our target audience and drive user acquisition. Additionally, we are exploring various paid marketing strategies to further accelerate our user growth.
While we have been focusing on improving the app's user interface and building the ancillary needs of a social network, we understand that this has taken time away from improving our computer vision models. We fell short in prioritizing this more prudently, however, we have now begun measures to increase the size and accuracy of our gym-equipment models and believe that if we can reach our next target of a 90%+ accuracy rate for all equipment scanned in big box gyms we can improve the overall user tracking experience. Which is always the ultimate focus.
Goals for May:
It’s Fundraising Time! Networking activated ✅🚀
Design, develop & implement “Achievements!"🏆
Initiate marketing campaigns across socials. 🎥
Integrate exercise instructional videos for 100+ exercises into the platform. 🏋️♂️
Complete data augmentation & begin annotation for model updates. ✏️
We are gearing up for a pre-seed round of fundraising and are excited to share more details about our plans. Do you know investors interested in consumer social & digital health? Would you be willing to introduce us? If yes, let me know! I’ll provide you with a forwardable blurb + mini deck you can pass along! If you want to cut the line and become an investment partner with Elevate. Let’s connect!
See you next month!
Sean, Founder and COO
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