What was the valuation in the last round?

We raised $1.4 million in our seed round which closed in October 2021. The valuation was $9 million post-money. With that round of funding we expanded the team and launched many product improvements. Spend on the platform in 2021 was $1.9 million. In 2022 I am forecasting $2.7 million in lesson and subscription purchases on Skillest.

Hi Brian, do you have a model that you'd be happy to share? It'd be good to understand budget vs actuals for the year, plus a forecast for the next 3-5. Thanks

I'm sharing projections here for 2023 to 2025. The key for us right now is to grow revenue and increase our margins. We will accomplish this through a new revenue model we are launching. We are charging coaches $49/month to use the Skillest platform. This is in addition to the 15% service fee we charge students who buy lessons and subscriptions on Skillest. We've heard from many coaches that Skillest has changed their lives. We give coaches the ability to make more money and have more flexibi...

The financials seem to project a good growth curve but what I do not understand is if this is an app or if it runs on a VR perspective like the cycing thing that has been making the rounds.

We are a service which runs across all platforms. Students can access Skillest from the web, Google Play, or the App Store. Skillest is more than a match making service that connects golfers and golf instructors. We provide all the tools to help golf coaches market their services, convert their followers to paying customers, give lessons remotely, and communicate with their students. We are focused on golf coaches today, but we believe the platform could be useful across many different vertic...

Hi, in terms of your distribution strategy, are you intending to sell direct to consumers (i.e., golfers buy via ecommerce) or do you plan to sell to golf instructors who in turn sell to their students, and if so, how? Thanks, and regards. This product is wonderfully simple an...

Hi Mark - This is a great question. Our plan is to do a little bit of both. But our primary focus is on selling directly to the instructors. Skillest is a platform that helps instructors make more money and save more time. And time + money = freedom! One of our competitive advantages is that coaches rely on Skillest to grow their business. Because of that, coaches promote Skillest more than they promote any other product they use. You can see this on social media, YouTube, podcasts, etc. Skil...

Hi. What is your 2022 and YTD revenue and MRR? Also, I know Skillest is currently focused on golf, what is the plan and timeline to expand to other sports?

I'm including answers below. Please keep in mind these are not audited by an accountant yet. * In 2022 we had $2.7 million in revenue on our platform. * Jan 2023: $284K, Feb 2023: $319K, Mar 2023: 368K ( month is not complete yet ). We charge coaches $49/month to use Skillest. In March 2023, we had 413 active coach subscribers and $20,100 MRR.

Skillest, Inc.

The Platform For Remote Golf Coaching

skillest.com

San Francisco, CA

Technology B2C Sports

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LEAD INVESTOR

Invested $25,000 this round + $150,000 previously

My brother Mike and I were co-founders of MyFitnessPal, which was acquired by Under Armour and is one of the most popular fitness apps used by over 200M users. We invested in Skillest because we truly believe in their ability to help people of all skill levels improve at the game of golf. Brian, Baden, and Alan have built an exceptional team with great technical ability, a passion for the sport, and a deep understanding of what their customers need to shoot lower scores and enjoy the game more. Enabling anyone around the world to receive instruction from the world’s best coaches is a complete game-changer, but ultimately, as they say, the proof is in the pudding. As customers of Skillest, we’ve managed to lower our handicaps by over 4 pts each and neither of us has ever played better. This team is just getting started and the online learning revolution has just begun. We’re really looking forward to seeing where they go from here.

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Skillest, Inc.

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