Premoney 46: Phase Zero & Chek

Welcome back everyone!!! I sincerely hope you were able to find a few days over the holiday to relax, recover, and get ready for a glorious 2022. You’ll notice that I took ~2 months off (ironically to give me time back to fundraise for Swapstack) of publishing, and I’m extremely excited to be back at it. Looking forward to growing with you all this year!

My audacious Premoney goal this year:

As I mentioned in my Premoney vision, one of my goals is to turn the newsletter into a fund (I like to think I had this idea before Packy McCormick made it cool). As part of that process, I did a look-back analysis halfway through the year to showcase the quality of the companies featured.

This years goal is to invest is >10 companies that I feature on Premoney (personally, through an SPV or via a more structured fund). If you’re interested in being involved in this process, I’d love to hear from you!

This weeks’ companies:

Company: Chek

Founder: Chris Kane

Raise Details: Raising $1.5M, $300K in the bank, $350k more in verbal commitments.

Verticals: Fintech, Payments, Data, Payment

Business Model B2B, Processing, SaaS

1-Liner: Chek, The Financial Assurance Platform, enables clients to modernize and streamline the distribution of funds through physical and virtual smart debit cards - ensuring money is spent as intended.

Description: Chek is a Payments and Data company that enables clients to ensure that money is spent as intended. The Chek platform helps organizations in sports, nonprofits and beyond, modernize and streamline the distribution of funds through fully controllable physical and virtual debit cards.

Chek empowers our clients to:

1. Save time and money while eliminating the friction around how to disburse funds to numerous stakeholders, ultimately increasing operational efficiency.

2. Enhance transparency and accountability around how money is disbursed and spent.

3. Greatly reduce wasted resources and increase stakeholders’ trust by instantly recovering unspent funds, controlling misspending, and monitoring fraud.

Traction Indicators:

• $843K booked revenue

• $25K MRR

• $3.5M+ through the platform

• 11.5K cardholders amongst 13 clients

Company: Phase Zero

Founder: Ngoc Le & Kevin Yee

Raise Details: Raising $1.5M with $250K soft circled

Verticals: Healthcare, No Code 

Business Model B2B, SaaS

1-Liner: Phase Zero is a no-code patient relationship management platform

Description: Phase Zero’s mission is to help digital health companies launch their products or move their care into the virtual environment. We provide a highly extensible, easily integratable, no-code HIPAA compliant toolkit that lets these companies build out their tech stack quickly and efficiently without reinventing the wheel.

Traction Indicators:

• Signed 6 enterprise customers

• Median ACV $6K

• Graduated from Techstars Healthcare accelerator

That’s all for this week! Thanks again for all of your support and attention! I look forward to connecting with you all this year.

Jake