Gleantap

AI Platform For Gyms

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Company Information

Website:

https://gleantap.com/

Sector:

Fitness

Location:

Austin, TX

Gleantap has built a customer engagement platform for the $562 million gym and wellness market.

Its platform leverages Artificial Intelligence, and enables clients to tailor personalized engagement campaigns for customers using e-mail, text message, and messaging apps. In doing so, clients can understand their customers’ needs, and engage with them at the right time.

According to research from Salesforce (NYSE: CRM), a software company, 73% of consumers expect companies to understand their needs and expectations. Yet only 51% believe companies actually understand these needs.

Research also noted that companies are increasingly adopting customized customer engagement methods instead of a “one-size-fits-all” approach.

This has transformed customer engagement solutions into a $12 billion market. By 2023, this market is projected to reach $21 billion.

Gleantap is disrupting this market with its customer engagement platform for gyms and wellness studios. By targeting 400,000 fitness centers, spas, salons, and gyms within the U.S., this company’s total available market is $562 million.

Simply put, Gleantap’s software enables clients to acquire, engage with, and retain customers. Here’s how it works:

First, the software connects to a company’s pre-existing member management system and automatically “pulls” member profiles and activity information.

Next, the software builds profiles on members, gathering demographic and behavioral data, as well as conducting targeted polls.

Then, using its proprietary algorithm, Gleantap’s software analyzes the data and calculates the probability a customer will return, upgrade, or refer a friend.

This algorithm is designed to work by referencing specific consumer profile data with member data from other gyms. This helps the software more accurately predict consumer behavior.

Once analyzed, consumer profiles can be used by companies to connect with customers at the most appropriate time with the most effective message. Companies can trigger engagement campaigns manually, or use Gleantap’s automation engine to drive campaigns.

The campaigns involve using multiple channels to send out messages to customers. Current channels include e-mails, text messages, and messaging apps. And future channels include Whatsapp, Twitter, and Facebook Messenger.

Each campaign is monitored. Gleantap not only tracks open rates and click-through rates, but conversions. For example, if a company runs a campaign to up-sell members to a premium plan, it can track in real-time how many members upgraded to that plan and the return on investment from those upgrades.

For text message campaigns, Gleantap’s software provides options like A/B testing, automated campaigns, and two-way communication between the client and customer.

With e-mail campaigns, clients can segment customers based on attributes and appropriately target each segment with the right message. Clients can test different subject lines and template bodies for the messages.

Finally, clients can send “push notifications” in the form of personalized messages. These can be sent to target groups, and be sent to customers within a certain proximity to the business.

Gleantap’s software also includes AI-powered “chatbots” that provide a positive experience to existing and prospective customers. Chatbots operate through text messaging and business websites, and can collect information from inquiring customers to enable automatic follow-ups.

All of these features are tracked with Gleantap’s business intelligence dashboard. This tracks metrics like customer lifetime value, churn rate, and growth rate. It also enables businesses to perform retention analysis to identify which customers are in need of a marketing campaign.

Gleantap has three version of its platform, tailored toward clients of different sizes:

Its Boutique Studio Plan is geared toward small gyms and studios with less than 1,000 members. This plan costs $99 per month per location.

The Growing Club Plan is for gyms and studios with 1,000 to 5,000 members, and costs $199 per month per location.

And the Large Club Plan is for gyms and studios with 5,000 to 10,000 members and costs $249 per month per location.

Clients are billed monthly, but can purchase six-month and annual plans at a discount.

Gleantap has 27 clients, including Planet Fitness, Gold’s Gym, Anytime Fitness, and Orangetheory. These clients represent more than 300 gyms and wellness studios that engage with 1.5 million customers.

In the last 16 months, Gleantap has generated $375,000 of revenue, and as of September 2019, its monthly recurring revenue is an estimated $33,000.

With funds raised from this round, Gleantap will increase its marketing budget and conduct R&D to further build its customer engagement platform. In Q2 2020, the company will release a mobile app, enabling clients to track and monitor their dashboard from their phone.

Long-term, the company will expand to other industries, including the entertainment, hospitality, auto service, and retail verticals.

Team Background

Sagar Babber - Founder & CEO

Prior to starting Gleantap, Sagar ran a successful web and mobile development consulting company called Snyxius Technologies. In 2018, he sold this company to First Tek, a software company.

Before that, he co-founded Collaborate Cloud, a software company.

He earned a Bachelor’s degree in Information Science from Visvesvaraya Technological University.

Shubham Sethi - Head of Product

Shubham was a product management lead at Athenahealth, a software company focused on the healthcare industry.

Before that, he worked for Hive9, a software company, and Lancope, a cybersecurity company that was acquired by Cisco.

He earned a Bachelor’s degree in Engineering and an MBA from the University of Georgia.

Andrea Grbavac - Director of Marketing

Andrea has more than seven years of marketing experience.

Prior to joining Gleantap, she was Senior Director of Product Development at Detekt Biomedical, a life sciences product company.

She earned a Bachelor’s degree from the University of Texas.

Jennifer Illig - Sales Executive

Jennifer has five years of sales experience.

She was previously a sales and client representative for Fastsigns, a company that manufactures customs signs and graphics.

She began her career as a sales representative for Yodle, a technology startup.

Raising
$250K
Committed
$59K (23%)
Current Valuation
$5 million Cap / 20% Discount
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
Convertible Debt
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