Edify

Using Artificial Intelligence to Reduce Injuries

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Company Information

Website:

https://www.edify.ai/

Sector:

HR & Workforce Management Software

Location:

Salt Lake City, UT

Edify is using Artificial Intelligence to solve a $171 billion problem.

It’s created a mobile platform designed to reduce injuries in the construction industry. In the U.S. alone, workplace injuries in this and other fields cost companies $171 billion a year, and result in more than 5,300 deaths. Edify’s proprietary platform can help.

Edify is led by a pair of experienced co-founders. CEO Cory Linton has 25 years of software development experience, including nearly a decade with Microsoft. And CTO Brian Kennedy has spent 18 years in leadership roles with startups. He's developed AI applications for notable clients including the U.S. Department of Defense, Department of Energy, FBI, and American Express.

Their latest venture is off to a fast start. Since launching in 2018, Edify has attracted more than a dozen clients in the construction, tech, and insurance markets, including seven Fortune 500 companies. Annual revenue is from $25,000 in 2018 to $450,000 in 2020.

The company is on track to bring in more than $1 million in 2021. Now it’s raising capital to scale its business and enhance its AI-based platform.

Edify’s platform is an attempt to bring efficiency and preparedness to the workplace injury problem. While there are nearly 3 million workplace injuries a year in the U.S., most safety practices are outdated and inefficient. Furthermore, safety information is often presented using costly, disorganized paper processes.

Edify’s AI mobile platform streamlines this information, and presents it in an engaging manner.

The company describes its platform as a “People-focused intelligence driven safety solution.” Its proprietary technology helps each user learn safe behaviors to minimize injuries and accidents. It does this by aggregating large amounts of data and using it to coach users to practice these behaviors so incidents can be stopped before they happen.

At the same time, the platform uses deep learning to analyze daily behaviors and actions. This enables it to recommend correct procedures and practices, and even predict who is at high risk of injury.

Edify’s platform isn’t just wishful thinking. It’s a proven platform that’s already showing results. For example, a large construction company saved nearly $1,000 per employee in reduced insurance claims. And a top U.S. home builder saved $35,000 an incident using Edify’s software.

As a result of these cost-saving benefits, Edify’s client list has soared. The company has contracts with a Fortune 50 tech company building data centers around the world, the largest construction insurance brokerage in the U.S., and one of the largest insurers in the U.S.

Edify generates revenue via subscriptions, and eventually plans to package and sell the valuable data it collects.

Notably, Edify doesn’t need to spend much on marketing. That's because its platform serves as a “sticky” product, enabling the company to expand its presence within both a large company and the construction industry itself.

As an example, Edify initially signed up a customer who was willing to use its safety platform on a particular project. From there, several other projects were taken on using Edify’s platform, and eventually additional companies saw its potential and signed up.

Edify is initially targeting the construction industry. But its technology can benefit workers in several dangerous markets. These include manufacturing, utilities, energy, mining, warehousing, mechanics, and transportation. In total, there are 32.5 million potential Edify users in the U.S., representing an $8.6 billion total market opportunity.

Team Background

Cory Linton - Co-Founder & CEO

Cory has 25 years of software experience, including nine years with Microsoft.

Most recently, he was Chief Operating Officer with School Improvement Company, an education management company. Under his guidance, the company grew from $2.5 million in revenue to $46 million and was successfully acquired.

Earlier in his career, Cory worked for Microsoft, serving as a marketing manager and senior product manager.

He earned a Bachelor’s degree from BYU and an MBA from Columbia.

Brian Kennedy - Co-Founder & CTO

Brian has extensive software development experience. Throughout his career, he’s built enterprise applications for government agencies and Fortune 500 companies.

Prior to starting Edify, he founded Willow.ai, a technology company developing Artificial Intelligence solutions for behavioral change. Before that, he ran his own computer consulting business.

Earlier, he was Chief Technical Officer with CloudLink Solutions, a computer software company. Before that, he was a developer with ActiveForever and Desert Rain Software, two software-related companies.

Brian earned a Bachelor’s degree in Computer Information Systems from the University of DeVry.

Shahid Chishty - CFO & Advisor

Shahid has more than 25 years of financial experience, and has worked with dozens of startups in Silicon Valley.

He began his career with Deutsche Bank, working as a senior dealer and later an associate director. From there, he spent two years with Merrill Lynch, working as a business manager.

After that, he co-founded Lincoln International, a finance company focused on M&A and strategic advisory services. He then was a member of the Board of Directors at German International School Chicago, a school focused on bilingual education.

More recently, Shahid was a partner with Blackbox AI, a technology company focused on AI applications. He then spent four years as a mentor at the Miller Center for Social Entrepreneurship at Santa Clara University.

He holds a Bachelor’s degree in Business Economics and Accounting from the University of Southampton.

Raising
$3 million
Committed
$207K (7%)
Current Valuation
$12.50 million Cap / 20% Discount
Min. Investment
$150
Deal Type
Title III
(For all investors)
Offering Type
SAFE
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