Worklete: Reduces injuries in labor intensive industries, saving frontline workers from injury and injury-related costs. ...
Workplace injuries are devastating to workers and costly to companies.
Preventable musculoskeletal (MSK) injuries make up 56% of workplace injuries and cost companies $32B every year.
Not only does this impact productivity, but more importantly it also negatively affects the lives of millions of workers and their families. Despite this, most solutions on the market only address MSK injuries after they occur.
Worklete: An AI-powered mobile platform keeping frontline workers safe and healthy
Worklete prevents MSK injuries before they occur. We use AI to build personalized programs for frontline workers, teaching them how to use their bodies correctly and develop preventative habits tailored to their personal needs in real time.
Easily scalable for deskless workforces of all sizes, Worklete can be configured and adapted to different teams and workflows.
A personalized safety, habit, and skill-building automated coach
Using machine learning, predictive analytics, and smart-skill building, our mobile platform reduces the incidence and severity of injuries.
Our always-on, automated coach trains frontline workers, while helping managers identify and prevent risk early, allowing them to focus their time where it really matters. This saves our customers millions of dollars a year in injury-related costs and inefficiencies.
The market is responding: 3.4X Customers YoY and $30M of expansion potential in current clients alone
The market needs and is responding to our solution. We've more than tripled our customer count year over year. And 80% of our clients have expanded their contracts with us.
In 1Q 2021, we broke $2.2M in ARR. And with over $30M in potential expansion within current clients alone and a robust new client pipeline, we are on track to reach $5M in ARR by end of 2021 and $15M in ARR by the end of 2022.
Companies and users love Worklete
Worklete continues to receive overwhelmingly positive reviews with strong user engagement. Companies such as Amazon, CBRE, Dr. Pepper, and Nestle rely on Worklete to prevent workplace injuries and help keep their employees happy.
SaaS model with high profit margins
Worklete offers companies annual contracts paid upfront with a per-employee, per-year model. With low acquisition costs, we've been able to achieve a 91% gross profit margin, while saving our customers more than $15M in direct costs with a 420% average ROI.
$41B Global Total Addressable Market
We are attacking a huge problem. There is a total addressable market of $41B globally, $10.2B in the US alone. And there are a lot of people we can help - we believe we can impact the lives of 410M frontline workers globally across our identified verticals.
Addressing unmet needs in the market
We're currently competing against old school consultancies and home grown solutions. It's time to digitize this market with advanced technology.
We use technology to address and fill in our competitors' weaknesses and gaps, providing a comprehensive product suite.
Most innovation in Digital Health aims to decrease costs after injuries occur... Worklete prevents injuries before they occur.
Not only do we provide a personalized and easily scalable solution, but also deliver actionable solutions at a lower cost.
Accelerating growth to meet demand
The market is turning towards us and we want to seize the opportunity. To do this, in the coming months we will be focussed on:
- Continuing to build out our go-to-market strategy to capitalize on momentum and accelerate customer acquisition,
- Expanding within our current customers to capture the $31M opportunity we have identified, and
- Enhancing our technology - making our algorithms smarter with more dynamic data inputs.
$8M raised to date from top tier VCs
To date, we've raised $8M from VCs such as Trinity Ventures, Aspect Ventures, Kapor Capital, Launch Capital, along with well known angel investors such as Gokul Rajaram amongst others.
Industry expertise coupled with technology experience
Co-Founder & CEO
Worklete spurred from a consulting practice Ben's father started and ran for 30 years. While growing up around his father's movement consulting business, Ben was first introduced to the impact that utilizing proper body mechanics can have on reducing workplace injuries in physically demanding occupations.
He was inspired to start Worklete, realizing that through a digital platform he could make a greater impact on MSK injuries, saving companies millions of dollars a year in injury-related costs and helping hardworking folks stay injury free.