Thank you for your interest in investing in Alethea, and the future of healthcare in Alberta
As a valued member of our Alethea physician community, we are excited to share an exclusive investment opportunity with you. We are offering physicians using the platform the chance to benefit from our exciting growth by investing in Alethea.
About Alethea
Alethea is a physician-founded company. Our rapid growth reflects our commitment to build and maintain a high-quality platform, offering comprehensive solutions for physicians.
Annually, over 14 million referrals are performed in Canada. We have found that 73% of these cases could be better served as eConsults that are managed more quickly at the point of care. This outcome not only reduces patient suffering and wait times, but also healthcare costs.
Alethea reduces patient wait times by over 50%. eConsults providing specialists with structured data and digital diagnostics assist in triaging patients more effectively. eConsults through Alethea have been used to identify many life threatening conditions, ensuring patients receive the urgent care that may have not been possible through traditional referral channels.
Alethea's Growth
As a business, Alethea is growing an impressive 10% month-over-month. Since January, revenue has already increased over 50%. With almost 500 MDs using our platform and over 800 expected by the end of the year, we are excited about our future.
Over the past 3.5 years we have dedicated significant resources to de-risking our business. Today, we are seeking capital to turbocharge our growth. Our goal is to broaden our business in Alberta and expand our programs in BC and Ontario. We are also eager to roll out what we are calling ‘Alethea 2.0’.
Alethea 2.0 will extend our eConsult pathways into eReferrals, enhancing the patient-specialist journey with the help of our platform and AI technology. Patients requiring referrals are often stuck in an outdated system with a lack of transparency and trackability. Our enhancements will resolve these issues and help us support the Alberta Surgical Initiative (ASI), which is the top priority for AHS.
Armed with capital, new features, and our accelerating growth, we anticipate a fivefold increase to our revenue over the next 2-3 years. This success would quintuple your investment.
How to Invest in Alethea
To simplify the investment process, we are using a standardized Simple Agreement for Future Equity (SAFE). Developed by the startup accelerator Y Combinator, a SAFE streamlines the process for startups to raise early-stage capital.
Unlike traditional agreements, a SAFE does not immediately grant shares but establishes the terms for granting shares at a future event. This approach is designed to protect both investors and the company, deferring valuation discussions until the company has grown, thereby making it easier to value.
Our SAFE includes a maximum valuation cap of $6M or a discount of 20%. The valuation cap sets the maximum valuation at which the SAFE will convert into equity. In a scenario where a future investment round has a valuation lower than $6M, the 20% discount is applied, pricing shares 20% lower than what other investors would pay in the next financing round. The next event (funding, acquisition, etc.) at $2M would trigger your SAFE, and you would be assigned equity as determined above.
Our Team
Alethea has built a great team of founders, staff and advisors, with deep medical, technical and business expertise. Our CMO, Dr. Devon Livingstone, has the practical medical experience and deep understanding of AI to guide Alethea’s advancement. Steven Pilz (CEO) and Heiko Peters (CTO) both have experience building startups and managing large companies. Evan Hu (Chairman) has built and exited two companies for over $160M. In addition, we are excited to add Dr. David Sheps and Dr. Douglas Woodhouse to the management team. Their medical expertise will be invaluable as we drive towards Alethea 2.0.
We Look Forward to Growing with You
We hope you will join us in our raise so we can improve patient care and reduce wait times for all. Not only will your money help us accelerate our growth, you will acquire ownership in an innovative startup that is doubling in revenue every year. You will be a key contributor to a company that improves your professional life, as well as the life of your patients. For every $10K invested, we’d expect it to be valued at $50k in the next 3 years.
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