The environment you work in has a powerful effect on your mood. In turn, this effects how you interact with others, your family, and even how you treat yourself. A stressed out workplace can mean terrible things for your productivity, but more importantly, your relationships.
Psocratic understands this and is focused on making your workplace a little less on edge.
Today we chat with the team about the “Psocratic method”.
Tell us about the product or service.
We offer a web-based stress management program that provides personalized, evidence-based activities to become more resilient to stress. Activities are based on personality and preference.
How is it different?
We are the only platform providing multiple different types of techniques for stress management: CBT, DBT, music therapy, visual therapy, etc.
We observe web analytics and schedule to intelligently time our daily interventions.
What market are you attacking and how big is it?
Entry market is workplace wellness with mid-size employers: $1 Billion opportunity. We will take lessons learned to expand into large employer market ($9B), and eventually plug-in to hardware and smartphone technology (general population $30B+ market).
What is the business model?
Charge employers between $10,000 and $100,000 annually to use our program – based on employee size and complexity.
Tell us about the experience participating in BluePrint Health…
We’ve learned so much from them. Our business is much more confident that we can have a successful business. Here are the major wins from the program:
- Our management style has improved immensely
- Blueprint has been pivotal in showing us how to run sales and marketing for our business.
- Our product has slightly benefitted from direct guidance of BP.
- 2 of our first 5 customers are from BP mentor conversations.
What are the milestones that you plan to achieve within six months?
We want to launch our product with customers starting October 15th as well as learn from that experience, and revise product for Jan 1 clients. Additionally we plan on selling to 30 clients by mid 2016, create partnerships with 2 clinical organizations and raise $1.2 in overall funding. ($500k round is open right now).
If you could be put in touch with one investor in the New York community who would it be and why?
David Tisch would be one of a few. He has a great portfolio of companies, many of which are contributing to the greater health of individuals.
Why did you launch in New York?
Our core team is based out of NYC. We’ve all been here for a while.
Where is your favorite place to visit in the area in the fall?