Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Start-up CoachSeek raises more than $450k for development

Start-up CoachSeek raises more than $450k to plough into development

By Paul McBeth

Sep. 5 (BusinessDesk) - Software start-up CoachSeek raised more than $450,000 after going through the Lighting Lab accelerator programme, and plans to knuckle down and develop its product before ramping up marketing efforts.

The Auckland-based start-up, whose software helps sports coaches manage their programmes, raised more than its targeted $450,000 from a syndicate of angel investors through Ice Angels and AngelHQ, chief executive Ian Bishop told BusinessDesk, without being more specific. CoachSeek made the pitch for funds at Lightning Lab's May demonstration day, with $100,000 already committed at a pre-money valuation of $1 million.

The software-as-a-service platform is specifically built for sports coaches to cut down the time they spend on administration, and CoachSeek is aiming the service at what it estimates is two million coaches across the US, UK, Australia and New Zealand. Charges range from $29 a month for a single user, $49 for up to 10 coaches, and premium access for unlimited coaches on inquiry, according to its website.

"In the next two, three months we're refining the product to a level where we’re happy with the additional improvements we have made, then taking it out to market later this year and into next year,” Bishop said. “That will be the initial focus then pushing it out to a broader audience.”

New Zealand alone has some 36,000 coaches across 10 national sporting organisations, the vast bulk of whom are volunteers, with 82 coaches receiving government funding and access to services through the high performance unit, according to Sport New Zealand figures. Among its priorities, the government agency is tasked with developing professional coaching programmes, and also aims to support management of volunteers.

Bishop, a former tennis coach, said CoachSeek has more than 300 coaches across 34 countries using its tool so far, and is using their feedback to help refine their product. That uptake has been aided by targeted Facebook advertising to sports coaches, he said.

“The early adopters are more forgiving,” Bishop said. “Once we’re happy with that, we’re looking at various ways to commercialise the product and getting it out there.”

CoachSeek will face competition from a similar desktop service, which Bishop says is "pretty expensive", while other Saas-based platforms aimed at hair salons and pilates instructors.

“We feel there’s a real niche for us,” he said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news