EIS

Care Messenger®

IT and Telecommunications Business - North East

Care Messenger®

About Care Messenger®

Care Messenger® is a flexible and cost effective messaging solution that turns the television into a simple two-way communication platform. The solution consists of a cloud based software application, enabled by a compact set top box. This solution allows care providers to send messages (text, pictures, and videos) straight to a TV screen, overlaying the broadcast content and without need for any channel shift. The person receiving the message can then send a simple response back using their familiar TV remote control. Responses are time stamped with alerts sent to the sender to confirm receipt. Care Messenger® allows a vulnerable and isolated age group to 'stay connected' via their own TVs, without the stress of having to learn anything new.

The Market

Care Messenger® is an innovative communication solution developed primarily to help domiciliary care, health care and telecare providers such as CareWatch and MyLife communicate directly with elderly clients. Care Messenger® turns the TV into a powerful, clear and simple two-way communication channel that allows care providers to send messages direct-to-TV with text, images and video. Care Messenger® provides further added value for friends and family of the end user who can also connect into the system and use an application on their mobile phones, tablets or computers to send text messages, images and videos to elderly loved ones via their TV.

The Company

i-Spy Digital Limited is a technology business that develops digital media software and hardware providing messaging communications solutions and adapted digital signage. i-Spy Digital operates in the healthcare and home care sector as a primary focus. The company has recently carried out an intensive Research and Development project in the healthcare industry to develop its core product, Care Messenger®.

The Team

The founders have direct experience in developing, launching and commercialising technology led products across a number of sectors including banking and financial services, education, prison services and healthcare. After identifying a gap in the social/domiciliary and healthcare markets the team have drawn on their breadth of knowledge and skills to develop and launch Care Messenger®.

The Plan

Care Messenger® is now looking to raise £550,000 in exchange for a 21.57% equity share in the business. This investment will allow Care Messenger® to prepare for and support existing and upcoming projects, acquire stock, realise profitability, further develop the product and fund initial entry into the consumer (secondary) market.

The Exit

The company is aiming to deliver revenues of circa £10.8 million, with an EBITDA of £5.44m million by FYE January 2022. A strategic sale is envisaged as the most likely exit.

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Q/A

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Investors

£22,000 invested by 5 online investors
£200,000 invested by 1 Professional Investor.

NSV