Addie

WHATS THE PROBLEM?

  • It’s estimated that 400 million people globally have ADHD.

  • Common symptoms include not following through on longer tasks, not starting them at all, and becoming distracted by other tasks or thoughts.

  • Many to-do list apps capture tasks, but don’t prioritise them, or help you get started.

  • Understanding these specific challenges faced by individuals with ADHD, this week’s company, Addie, offers a compelling solution👇

Solution in a sentence: Addie is an AI-powered hyper-personalised productivity and lifestyle management platform specially created for the 400M globally who suffer with ADHD.

Four pillars to the product:

  • Productivity: An AI Assistant with nudges and notifications that breaks down tasks into smaller chunks, offers AI-powered task time estimation, and allows users to earn coins to drive dopamine.

  • Wellbeing and lifestyle: Features a Neurodiversity learning hub, mindfulness bell, soundscapes, breathing techniques, and lifestyle trackers for medication, body, mood, and menstrual cycles.

  • Coaching and therapy: Offers the world’s first ADHD coaching and therapy marketplace.

  • Community and accountability: Provides shared tasks, community chat, and accountability buddies.

Analogy: Just as a personal trainer helps individuals break down fitness goals into manageable steps, Addie serves as a mental coach, breaking down tasks into smaller chunks and offering guidance to help those with ADHD stay focused and on track.

Company breakdown:

  • Industry: Mental Healthcare

  • Headquarters: London

  • Year Founded: 2022

  • Employee Count: Zero. Three directors.

  • Investors: Deepbridge Capital

  • Previously Raised: £250k at pre-seed (April 23) + £90k grants (2022)

  • Currently Raising: £750k seed round

  • Business Model: Premium subscription

  • Early Traction: 54k installs. 24.5k registrations. 600+ paying subscribers. 3.9k monthly active users.

Due Diligence

WHAT WE LIKE
  • Large market: With a global serviceable attainable market of 400 million individuals, coupled with a rising awareness and understanding of ADHD, there is an increasing demand for tools and resources to aid in managing the condition.

  • Unmet Needs: Most existing productivity and wellbeing apps are not designed specifically for people with ADHD, despite their specific needs.

  • ADHD Foundation Partnership: Addie has a strategic partnership with the ADHD Foundation, who support the business with insight, network building and content resources.

  • Defensible IP (Patent & trademark): Addie has trademarks secured in all major regions and a patent application pending in all key jurisdictions.

  • Strong social media traction: Within 90 days from launch Addie grew its social media following to over 60,000 subscribers. They have had 5M+ views, 500k+ Likes, 15k comments and 100k shares on TikTok alone.

POTENTIAL RISKS
  • User Engagement: Maintaining user engagement over time can be challenging for any app, especially for individuals with ADHD who frequently grapple with consistency and sticking to routines.

  • Regulatory Compliance: If the app is positioned as a tool for managing a medical condition, it may be subject to healthcare regulations and require approval from regulatory bodies.

  • Competition: While an ADHD-specific app could fill a niche, it will still compete with general productivity and wellbeing apps. These competitors may have larger budgets and more resources.

  • Effectiveness: The effectiveness of the app in improving productivity and wellbeing for people with ADHD may need to be demonstrated, which could require rigorous testing and potentially clinical studies.

Founding Team

  • Phil Birss, CEO: Third-time start up founder with 20 years experience. Leads on product management, commercial strategy and product growth.

  • Joanne Vickers, Chief Growth Officer: Second-time start-up founder with 15 years experience. Jo leads all branding, marketing, communications and product growth hacking initiatives.

  • Dan Richardson, CTO: Second-time start-up founder with 15 years experience. Dan leads on data strategy, server architecture, software development and technical risk management & mitigation.

  • Sandy Wilkinson, CFO: Fractal CFO, Chartered Accountant and Commercial Consultant. Multiple successful exits over a 40 year period in the technology space.

To request an introduction to the founder, please reply to this email

Comparables

Why Addie: While comparables offer a handful of features addressing the specific needs of those with ADHD, Addie might be the all-in-one productivity and wellbeing solution they’ve been looking for.

Have your say:

Written by Monty

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