Sketched Presentation Used by Skye Coaching Startup to Raise $1.6 Million

  • Skye, a platform to seek out government coaches and life coaches, is launching to the general public at this time.
  • The platform has employed present and former executives from Google, Conde Nast, and Lyft as coaches.
  • Learn the 33-page set of shows the founders used to boost $1.6 million within the preliminary spherical in January.

The thought for Skye Teaching Platform, a market for locating government and life coaches, got here from private expertise. Three years in the past, Jessica Wolff, Skye CEO and co-founder, spent months trying to find a coach with out success.

She was attempting to interrupt into enterprise capital, was contemplating transferring cross-country for a job provide, and could not resolve if enterprise college was the appropriate transfer. Furthermore, she was ending a relationship.

However she didn’t discover the appropriate individual to advise her. Among the present coaching platforms, similar to BetterUp and Torch, goal firms somewhat than people. In the meantime, Ginger, a behavioral well being coaching platform, did not present the form of skilled expertise she needed.

“I believed a therapist would not minimize it as a result of I wanted strategic profession recommendation,” Wolf informed Insider. “I needed somebody with a stable background. I did not need the coach who had simply graduated from school and had simply grow to be a coach, or been a therapist for a couple of years after which moved on to teaching.”

In 2021, two years after accepting the concept, Wolf, who had determined she needed an MBA, teamed up with two of her fellow Columbia Enterprise College college students — CPO Tony Lin and CTO Gabriel Chen — to construct a brand new coaching platform with a view to fill the wants that they She had it for years.

At this time, Sky is residence to almost 100 coaches, together with present and former CEOs from Google, Conde Nast, Lyft, Dropbox, Oscar Well being, BCG and Sony Leisure, in addition to skilled coaches. The platform, which launched to the general public this month after 9 months in beta, has lots of of customers.

Earlier than they went to traders, the founders needed to have a platform constructed, in addition to a powerful teaching record.

“We’ve to get the coaches first,” Wolff stated. “If we do not have coaches, we won’t promote something.”

She has withdrawn from her personal contacts from the Columbia Enterprise, Enterprise Capital, and Media Alumni Community.

These coaches are matched with purchasers via an algorithm. Upon becoming a member of, purchasers fill out a questionnaire about their background, targets, and areas of progress, and the algorithm creates suggestions for coaches primarily based on these solutions, worth level, values, and targets.

Presently, coaches set their very own charges for month-to-month subscriptions, and the platform prices a charge of 10%.

New coaches should be referred to Sky by current coaches, then they undergo a vetting course of that features an interview and a mini teaching session with the co-founders.

As soon as the coach is on board, Skye connects them to purchasers and in addition acts as their CRM, with instruments like hiring, calendar integration, video conferencing, invoicing, and aim monitoring.

In early 2022 — after launching the platform into beta, bringing in 50 coaches and greater than 200 purchasers — the corporate raised an preliminary $1.6 million spherical from Stellation Capital, Incite Ventures, Day One Ventures, and a number of other angel traders.

With the intention to entice traders, Wolf used a 33-page presentation that she put collectively in November 2021, when the promotion course of started. She up to date and tailored it to totally different traders in the course of the three months she spent elevating cash.

“I had two totally different variations, relying on the field,” Wolf stated. “If I knew the fund was pre-formed, it is all concerning the founder, I had one set. But when I knew they had been a numbers individual, I would use one other one.”

The founders additionally included the knowledge they gathered throughout calls with folks of their community concerning the coaching, together with their wants and budgets.

“We had been in a position to really say ‘that is a imply willingness to pay’ as a result of we knew we weren’t making it up,” Wolf stated.

Learn via Skye’s presentation that helped them elevate $1.6 within the introductory spherical: