PROtect

Successfully Funded!

$336,750
19
investors
2017/09/19
date closed Subject to extension. For full details on the closing date see PROtect's Terms.
Overview

PROtect - Your Smart and Simple Safety Solution

A shift is underway in which people are changing their focus from protecting their property (homes, cars, etc) to protecting themselves and their families.The smartphone is a central tool in making that switch.According to a recent Allied Market Research report, the global mobile security market is expected to reach $34.8 billion by 2020, reflecting a CAGR of 40.8%. Predictions made a few years earlier suggested half of that growth rate. Moreover, a new popularity of personal security technology has arisen at trade shows like CES, during which this otherwise niche product group has emerged as a main attraction. The fact that mobile security technology is poised to become ubiquitously adopted by individuals, families, and employers now seems strikingly self-evident.



Product

The most trusted safety measure is to travel in groups, and so we’ve endeavored to provide that same level of protection in a virtual capacity. The user simply designates a circle of trusted friends and family members, then indicates when she will be entering an uncertain location. The protectee will be prompted to check in at a designated time. Failure to do so will instigate a series of measures: from alerting the circle to alerting the authorities. Those who feel imminent danger can hit the panic button for immediate assistance. With thePROtect App, you’ll never walk alone.


Market

Considering the seemingly infinite markets where PROtect can be adopted unfortunately reflects how often women find themselves in situations where they are made to feel unsafe. The app is as essential in big cities as it is in small towns. From someone on a first date from an online dating service, a real estate agent seeing clients in random locations, or a student walking across campus; a threatening situation is never too far away. It’s a chilling realization, but the market is essentially all women everywhere.People spend billions on home security, automobile security, and data security, but the personal security market has remained relatively limited until very recently. The personal security technology industry has grown from $38bn in 2013 to over $75bn in 2016. This steep increase is largely propelled by rapid technical advancement, along with growing interest within government and industrial sectors. Other factors include the exponential rise of online dating, concerns of violence against women on university campuses, and the same shift towards community solutions that have propelled services like Uber and AirBnb to outperform their traditional counterparts.Mass adoption of these devices has so far been held at bay by high production costs, but favourable trends on that front make this an ideal time to introduce a consumer solution that is as affordable as it is effective. PROtect aims to be the first to market with a personal safety technology offering that is complete for today’s professional family.


Sales Strategy

Our sales strategy includes both business-to-business contact, and direct sales.

B2B

The most productive way to penetrate the market en mass involves multiple site licenses via large businesses and organizations. We have identified a cross section of prospects that includes real estate firms, universities, and online dating services with these statistics in mind

  • There are 1.7 Million University Students in Canada
  • There are over 20 Million in America
  • 1 out of every 245 Canadian adults is a real estate agent
  • There are about 2 million licensed real estate agents in America, working for about 80,000 firms
  • 62% of realtors are female
  • 12 million people match on Tinder every day
  • 2.5 million per month use Plenty of Fish
  • 60 million people use Craigslist each month

Direct Sales

Our efforts to attract consumers will be focused on direct sales from our website, alongside deployment in all of the major app stores dealing with both Android and iOS. As a means to capitalize on the highest possible conversion rate, we have worked to minimize any barriers to entry for the consumer. With people understandably skeptical of advertising in general, the power of friends referring other friends remains the holy grail of consumer marketing. Every PROtect user will be prompted to assign a circle of trusted friends and family that they can check in with. Inherent in this circle of trust is a well-intended marketing potential, whereby users of the product can suggest PROtect to members of their circle who have their own safety concerns. This organic outreach provides the perfect environment for strong viral growth.


Exit Strategy

PROtect plans to grow dramatically over the next several years and will be reinvesting its operating cash flow in to the continued growth of the company. Once operations have reached an optimal level, management will consider the best exit strategy for its shareholders. This may include a strategic merger or acquisition, or an initial public offering.


Investment Highlights

  • Capital raised in previous rounds: $575,000
  • Current Target raise: $475,000
  • Maximum current raise: $500,000
  • Minimum current raise: No closing minimum
  • Pre-money valuation: $2.82M
  • Equity offered (target raise): 14%
  • Equity offered (maximum raise): 15%
  • Offering (unit) type: Common Shares with Voting Trust Agreement
  • Price per unit: $0.20


FAQ's

Does PROtect link directly with the police?  The answer is NO. The purpose of PROtect is to enlist your trusted friends and family to watch your back. PROtect can, however, be linked to a security monitoring system or campus security as one of your PROtectors. In many countires in the world police are not an option, with PROtect you can feel secure knowing those who love you will keep you safe.

Do both the user (PROtectee) and PROtectors have to have the app?  Not at all.  Only the person looking for PROtection must download the application.

 What if I set an event then run out of battery on my phone?  Will the event still trigger?  Yes indeed.  We are server based and once an event is in the system you do not need battery life to still have PROtection.

Meet the Team
Merideth Schutter
CEO
Julie Jones
Chief Financial Officer
Mike Walsh
Board of Directors
Sandeep Gupta
Advisor
Updates
No news yet, please stay tuned.
Investors
19 total, 14 anonymous
Lindsay Erlandson
barinder rasode
Meredith Venter
Teresa Comeau
Christine Hay
Get in Touch
Website
Email