2024-10-15
BePresent
www.bepresentapp.comHeadquarters
NYC
Employee Count
2
Year Founded
2023
Amount raised
$750k in pre-seed funding and recently received a term sheet for their seed
Business model
Consumer freemium subscription model, with plans for B2B subscriptions aimed at improving employee productivity
Early traction
$75k ARR (+60% MoM), 15k DAU (+32% MoM), retention rates 5x higher than industry average
Investors
Half Court Ventures and several angels
The majority of people are addicted to their phones and efforts to limit screen time are often ineffective.
Common solutions to limit phone use include:
App Blockers: Which can easily be disabled or bypassed when the temptation to check the phone becomes too strong.
Deleting Apps: This is temporary at best, as users frequently redownload apps as soon as their urge returns.
This week’s company reduces screen time by leveraging the same psychological techniques social media companies use to keep users addicted.
BePresent is a platform that helps users reduce screen time by leveraging psychology-based social gamification and real-life rewards.
Social Gamification: Users earn points, complete quests, and climb leaderboards for staying off their phones, replacing dopamine hits from scrolling with rewards for digital well-being.
Real-Life Rewards: Partnered brands offer tangible rewards to users, incentivizing them to maintain healthier phone habits while engaging with the brand.
Bulleted Version
Market Opportunity: The global digital wellness market is quickly approaching $1T, with consumers hoping to take greater control over their health in the same way they track fitness and nutrition.
Phone Addiction: The average person spends hours a day on their phone, leading to concerning mental health outcomes such as anxiety, depression, and even heightened risks of accidents.
Reverse Engineering: BePresent uses the same psychological techniques that make social apps addictive, but instead rewards users for reducing screen time rather than relying on restrictive app-blocking.
Monetization: Relying on a freemium model presents a challenge for BePresent, as the need to generate revenue could conflict with keeping the product accessible and effective for users looking for a free solution.
Behavior Change: While BePresent’s gamification initially draws users in, there’s a risk that without deeper behavioral reinforcement, short-term rewards may not drive lasting digital wellness habits.
Paradoxical: While BePresent promotes reduced screen time, there’s a paradox in convincing users to engage with the app regularly while also trying to get them off their phones.
Opal: Backed by Adjacent, Speedinvest, Secocha Ventures and others.
Clearspace: Backed by Y Combinator and Team Ignite Ventures.
WhyBePresent
With the ability to reduce users screen time through psychological based solutions, this company has the potential to help users break their scrolling habits and become more present in their daily lives.
*Nothing in this content constitutes investment or legal advice. Conduct independent diligence and consult professional advisers before making investment decisions.*
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