Investor Qs

Question 1

How do you make money?

Investor

Answer 1

We make money from pharma companies by allowing them to access doctors right when they’re treating a relevant patient.

Question 2

What is the nature of your business?

Investor

Answer 2

We are an AI company collecting the world’s largest skin data asset to improve diagnosis and guide treatment selection

Question 3

What if I gave you 2x more money, what would happen?

Investor

Answer 3

We would hire more sales people to speed up the data aggregation process and build this dataset faster.

Question 4

What’s your go to market strategy?

Investor

Answer 4

We’re generating data from users at home, starting with genital issues, and partnering with teaching hospital physicians, to build this dataset.

Question 5

How are you different from [adjacent market/competitor/solution]?

Investor

Answer 5

We’re tackling a taboo and low competition area to generate images fast, and digitizing old slides to create unique, proprietary, high quality dataset. We’re focused on volume and variety of data.

Question 6

How do you know people want this?

Investor

Answer 6

We’ve talked to over 50 PCPs who say skin is a hard and large part of their work, but they don’t have time to ask all the questions and cannot refer out all cases.

Question 7

How big is this really?

Investor

Answer 7

2.3 Billion people each year have skin issues around the world, and half are misdiagnosed.

Question 8

Why are you not selling into [random other market]?

Investor

Answer 8

Health Insurance: They care about very expensive or very unpredictable costs, and skin is not those. Also, they require 10M users before calling us back. Doc/Health Systems: They don’t buy things. Other people buy things for them, or they get them for free.

Question 9

Who is your competition?

Investor

Answer 9

We have 3 competitors: 1) FirstDerm, a telemedicine service for at-home remote derm evaluation. We do lead generation for them. 2) Google, who controls search traffic. They can solve the technical problems, but do not understand how doctors think. And 3) VisualDx, an app-based derm reference source. We will win because we are building a unique, unreplicable dataset of skin conditions and understand how doctors make choices.

Question 10

Why will you win over Google?

Investor

Answer 10

Google doesn’t understand or make tools friendly to how the medical system works. We do.

Question 11

What is it that you are actually making?

Investor

Answer 11

We’re building a data asset to power our AI, that support the webapp for consumer and native app for PCPs.

Question 12

How are you going to get people to come back?

Investor

Answer 12

Doctors encounter skin issues in 1 in 4 patient visits, so it’s an addicting product.

Question 13

What’s the worst thing that could happen to your company?

Investor

Answer 13

There could be a new law that restricts data use from medical centers.

Question 14

How are you going to spend the money?

Investor

Answer 14

We’re spending it on digitizing slides and on team salaries (clinical sales, engineering, marketing)

Question 15

What are you going to accomplish in the next [week|month|year]

Investor

Answer 15

We’re focused on licensing 100,000 slides from expert dermatologists, which is a data milestone to validate we can access protected data and broker deals with doctors.

Question 16

What are your unit economics?

Investor

Answer 16

We generate $200/click on educational content for doctors.

Question 17

How do you get this to scale?

Investor

Answer 17

Making an amazing product using data, then launching into primary care strategically.

Question 18

If you succeed what’s different in the world?

Investor

Answer 18

Fundamentally more than 2.3 billion people around the world will have access to quality evaluation, diagnosis, and treatment for skin issues.

Question 19

What are your growth goals?

Investor

Answer 19

1 M images, 1k images uploaded per day in first tool, 1,000 PCPs using tool per day

Question 20

What do your KPI’s look like?

Investor

Answer 20

We measure success on data.

Question 21

What’s your biggest barrier to growth?

Investor

Answer 21

Patient data is considered coveted and protected by some doctors, even identified. Some aren’t willing to share. Also, getting data with the right variety to train the AI.

Question 22

Why will you personally succeed?

Investor

Answer 22

I’ve had melanoma and I won’t stop until this problem of evaluating melanoma is solved.

Question 23

Tell me about the team?

Investor

Answer 23

Susan - MIT, Engineering Product Development. Pranav through improv for software engineering expertise, Kelsey through Techstars for biomedical and operational expertise.

Question 24

What’s your next most critical hire and why?

Investor

Answer 24

Clinical sales, to get more data.

Question 25

Why are you raising on a SAFE?

Investor

Answer 25

We’ve raised the prior 200k on a SAFE, and these terms are the same.

Question 26

How much runway does this give you?

Investor

Answer 26

12 months, and the ability to hit our milestones faster and raise a seed round.

Question 27

What do your customers love about you?

Investor

Answer 27

We provide an instant, accurate evaluation, and information about what to do next.

Question 28

What pain point are you actually solving?

Investor

Answer 28

Doctors struggle with this, and lose patients because of misdiagnosis and lack of trust.