|1||Integrated w/ 300+ health systems in <6 months with $0 funding. (Took Apple 6+ years to get as far)|
|2||Founder has 8+ years experience in health tech, including at Epic and Athenahealth|
|3||Founder w/ rare disease, 3+ years to diagnosis, app is inspired by spreadsheets she made to get dx|
|4||$50k investment from XX Team, 50k from President of Wealthfront, $15k grant from Y Combinator.|
|5||30% MOM organic user growth|
Susanne is one of the most impressive early-stage founders I’ve met. She’s a one-woman product development powerhouse who managed to build something incredibly complete and polished in eight months, on her own. Combine that with considerable industry experience, an inspiring personal connection to the problem she’s solving, and a massive opportunity, and you have so much potential. Wingspan is the future of how we take charge of our own healthcare.
Wingspan automatically brings all your health history into one place and delivers actionable reminders and insight into how your care compares to evidence-based standards.
Fractured medical care makes it hard to answer simple questions about your health.
Wingspan fills that gap.
Hard to get the data
Apple HealthKit has been around for 6 years and is only integrated with 318 (25%) health systems. Wingspan has been around for 10 months and is integrated with 700+ (50%) of health systems in the US.
We've used our insider industry knowledge and taken advantage of some rapidly changing regulations to scale insanely fast.
Hard to make sense of the data
Healthcare data is messy.
The same diagnosis or blood test can be documented in dozens of different ways. Our proprietary, AI-driven mapping infrastructure takes this messy data and makes sense of it - so that you can actually see trends in your test results.
We make a point of making sense of your health records so our users feel confident and empowered, not confused or uncomfortable. No one else has been able to build the mapping technology to do this.
With our Wefunder launch, Wingspan is now available to the public.
Sign up, answer 5 quick questions, and immediately see what preventative care is recommended for you.
Then connect Wingspan to your existing doctor accounts so we can give you more insights. Don't have online accounts with your doctors yet? We help you create them.
When we show you your health information, we also explain what it means, so you feel smarter, not stressed.
In the Bay Area that includes: Kaiser, Sutter, Stanford, and One Medical. This is way more comprehensive (and growing way faster) than Apple Health Kit or other competitors.
Susanne (founder) got sick at 18 with a complex rare disease that went undiagnosed and untreated for 3 years. She was sent to specialist after specialist, lugging a giant 3 ring binder of her medical records with her.
It was not until she took those papers and turned them into a massive spreadsheet that she and her doctor were able to see what was actually going on.
She is not only the patient, but also a health tech and data expert - having previously worked in Product for Epic, Athenahealth, and OM1.
Fractured clinical data isn't only a problem for patients and providers. That information is also what researchers use to define quality of care or figure out which condition to focus on next. How are we expected to rely on research that is built on top of flawed data?
The Patent Registry Data Market is valued at $1B in 2020 and has been growing 12% year-over-year. With Wingspan's approach, we'll be able to bring to market much higher quality, more comprehensive data sets than exist today.
User growth, user growth, user growth!
In beta, we've hit 30% MOM active user growth (or higher!) through referrals alone. Now we're launching broadly, with a goal of acquiring 5000+ users in the next 6 months.
Wingspan exists to make it easy for regular people to confidently navigate healthcare and get the care they need - regardless of what health insurance they have or which doctors they see.
We're looking to raise 400k to launch and bring Wingspan to everyone.
Wingspan Health has financial statements ending July 13 2020. Our cash in hand is $86,115.15, as of July 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $3,000/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
We get all of your medical information in one place, and use it to tell you what your doctor missed. We also tell you the one thing you can do to most improve your health.
The place people go when:
- they used to google their symptoms
- before they schedule a doctor's appointment
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Wingspan Health Inc was incorporated in the State of Delaware in January 2020.
Since then, we have:
Historical Results of Operations
Our company was organized in January 2020 and has limited operations upon which prospective investors may base an evaluation of its performance.
Related Party Transaction
Refer to Question 26 of this Form C for disclosure of all related party transactions.
Liquidity & Capital Resources
To-date, the company has been financed with $100,000 in SAFEs.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 12 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 12 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Wingspan Health Inc cash in hand is $86,115.15, as of July 2020. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $3,000/month, for an average burn rate of $3,000 per month. Our intent is to be profitable in 24 months.
Finances over the last few months include costs for a number of contractors whose contract will run out during the time the Wefunder raise is active.
We expect our expenses to be anywhere from $2,500 - $10,000 / month over the next 3-6 months (depending on contractors and whether or not we decide to hire a full time employee). We do not expect to generate revenue in the next 3-6 months. We expect (although cannot guarantee) to begin generating revenues in Q4 2021, through matching patients to clinical trials, de-identified clinical data products, and/or offering additional paid services to users. We expect it'll take $1M - $1.5M in funds raised to get to that point.
Founder savings and a friends and family round can be used as capital for the business.
Healthcare data must be kept secure (platform is not technically covered by HIPAA, but we follow its guidelines anyway).
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
We are assuming that given the right (well designed, useful, easy to use) tools people are willing to put effort into their health & healthcare. If that assumption proves incorrect we may need to pivot our business.
Our proprietary data aggregation & mapping infrastructure and AI must produce consistent output. Without that, our business model may be undermined and we may have trouble recruiting and retaining customers.
We surface commonly available health information crossed with your personal health history. This isn't "medical advice", but without careful consideration, there is risk of being considered medical advice.
Temporary Rule 201(z)(2) provides temporary relief from certain financial information requirements by allowing issuers to omit the financial statements required by Rule 201(t) in the initial Form C filed with the Commission. This offering has commenced in reliance of Temporary Rule 201(z)(2) and, as a result, the following must be disclosed: (i) the financial information that has been omitted is not otherwise available and will be provided by an amendment to the offering materials; (ii) the investor should review the complete set of offering materials, including previously omitted financial information, prior to making an investment decision; and (iii) no investment commitments will be accepted until after such financial information has been provided.
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