Deal Memo · Allied Venture Partners
Why the firm invested
Allied Venture Partners considers RetinaLogik an exceptional investment opportunity in the infrastructure software layer of an expanding market.
As such, we believe this presents an exceptional investment opportunity in the infrastructure software layer of a large and rapidly expanding market with significant potential for disruption and value creation.
Product
RetinaLogik uses proprietary machine learning and AI algorithms to deliver eye exams through off-the-shelf VR headsets.
By leveraging proprietary machine learning and AI algorithms, RetinaLogik has developed a suite of eye exams that can be easily distributed through off-the-shelf VR headsets.
RetinaLogik's VR eye exams have been clinically proven through years of research to match the accuracy of gold-standard vision exams.
Furthermore, following many years of clinical trials and research, these exams have been clinically proven to match the accuracy of gold-standard eye exams and address critical inefficiencies in the current eye care model.
Traction
RetinaLogik has consistently grown monthly revenue by 25% with highly attractive software gross margins.
Consistently grew revenue by 25% month-over-month with highly attractive software gross margins.
RetinaLogik operates on short 30-day sales cycles and has experienced zero customer churn.
Established short 30-day sales cycles with zero churn, indicating strong initial signs of product-market fit.
Within one year of launch, RetinaLogik secured hundreds of enterprise software subscriptions from clinics nationwide.
Secured hundreds of enterprise software subscriptions from clinics nationwide.
Ninety-five percent of patients reported preferring RetinaLogik's exam platform over traditional gold-standard vision exams.
Additionally, 95% of patients have said that they prefer RetinaLogik over traditional gold standard exams, which speaks volumes about the user experience.
Team
CEO Dr. Abed Sarhan holds a PhD in Computer Science with research focused on deep learning applications for glaucoma detection.
His research focus on machine learning, natural language processing, and the application of deep learning to glaucoma detection demonstrates a profound understanding of the technologies underpinning RetinaLogik's innovative platform.
Competition
RetinaLogik's software subscription IP is compatible with off-the-shelf VR headsets and medically licensed for distribution, providing a competitive edge.
Lastly, we believe RetinaLogik's proprietary IP (deliverable as a software subscription compatible with off-the-shelf VR headsets, and medically licensed for distribution), provides a significant competitive advantage.
What founders can learn
- What actually moved the decision: Allied Venture Partners wrote that Allied Venture Partners considers RetinaLogik an exceptional investment opportunity in the infrastructure software layer of an expanding market.
- The traction evidence that carried weight: Allied Venture Partners wrote that RetinaLogik has consistently grown monthly revenue by 25% with highly attractive software gross margins.
- How the team was judged: Allied Venture Partners wrote that CEO Dr. Abed Sarhan holds a PhD in Computer Science with research focused on deep learning applications for glaucoma detection.
Source and provenance
Deal Memo published by Allied Venture Partners on allied.vc (first-party source). Read the original
