...and the winner is...
Advice Analytics (www.adviceanalytics.com - @jerry1yen), targeting $12B+ TAM with predictive compliance monitoring for the 401k retirement plan industry, won the eighteenth semi-annual Seattle Angel Conference investment competition, held remotely (thank-you, coronavirus). Advice Analytics is mitigating $12B+ in 401(k) retirement plan compliance risk. There are over $7T in 401(k) plans with companies spending over $12B in compliance each year -- yet many still fail their audit. Getting more plans into compliance can actually increase $300B in rank-and-file employee retirement savings. Advice Analytics will receive a $235,000 angel award investment from the Seattle Angel Conference XVIII LLC.
This event’s finalist companies were selected from almost 60 companies based throughout the world that applied to compete at the eighteenth Seattle Angel Conference. A rigorous selection process (known as due diligence) was undertaken by over 45 active angel investors to select the winning company. Thirty to Fifty hours of investigation was performed on each of the 6 finalists, amounting to over 240 hours of due diligence. In the process 30 new Angel Investors were introduced to the investing process. Each investor staked $5,500 to $10,000 to create the $235,000 investment award for this year’s event. This round's investment brings the total investment from the Seattle Angel Conference to more than $5,500,000 invested in the local economy and over 500 investors educated about angel investing during the 9 years of the Seattle Angel Conference.
“The Seattle Angel Conference is an important part of the Washington startup ecosystem” said John Sechrest, founder of the Seattle Angel Conference. “Startup companies like Advice Analytics tell us that their scarcest resource is early investment, and investors tell us that learning how to make smart investments is critical. Seattle Angel Conferences are there to bridge that gap.”
The five other startup finalists who pitched were:
Advocat - www.advocattechnologies.com - AI legal research and drafting to multiply the ability of attorneys to research and write in 80% less time; reduce legal mistakes and costs; Enterprise SaaS.
AGTools - www.ag.tools - @ag_tools - A worldwide food supply SaaS real-time intelligent platform for farmers and buyers to manage market volatility, increase profitability and reduce food waste.
Apnomed - apnomed.com - @ryanyousefian - ApnoMed provides patients and clinicians with a suite of FDA-cleared medical devices for those suffering from sleep apnea, a life-threatening condition.
Kachinga - kachinga.com - @kachinga - The smart app & debit card for kids that helps parents teach good money habits.
Zelos - www.zevaaero.com - @zevaaero - A data-driven performance management platform for Track and Field communities.
The next Seattle Angel Conference will be held in May 2021. All Washington startups and interested investors should inquire in January 2021 about participating in the next round of educational events, trainings, and competition. Deadline for applications will be February 25, 2020.
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