The Launch Place Invests an Additional $200,000 in Roobrik
May 23, 2016
The Launch Place announced today that it is investing $200,000 in Roobrik Inc., to expand Roobrik’s capabilities and reach in serving the senior care market. The $200,000 investment follows a $75,000 investment The Launch Place made in September of last year. The original investment in Roobrik was from The Launch Place Pre-Seed Investment Program. This investment program was established to help early stage companies to further their market and product validation and/or business model refinement.
Roobrik works with senior care organizations who are interested in helping older adults and their families make more informed care decisions. These organizations use Roobrik tools on their websites to reach families who are uncertain about their care needs and options. The Launch Place Pre-Seed Investment enabled Roobrik to launch pilot tests with three senior care providers, all of whom have remained customers following the pilot period.
“This is exactly what the Pre-Seed program is designed to do; support further testing and customer validation of the product, and refinement of the company’s business model to prepare these entrepreneurs to raise more substantial funding through either The Launch Place Seed Fund, angels, venture funds or some combination thereof,” said Eva Doss, The Launch Place President & CEO. “Roobrik is the first company that has started in the Pre-Seed program, met all the milestones established for investment, and more than doubled their customer base in less than 6 months.”
“We are enormously pleased with the support we’ve received through our partnership with The Launch Place. In addition to the Pre-Seed funds, The Launch Place Team has helped us refine our business model, generate substantial PR, win new business, and reach additional funding partners,” said Nate O’Keefe, Roobrik’s CEO. “We’ve really been able to focus on what’s most important: developing new and better tools to help families with these really hard decisions, and getting them out in front of wider audiences through our partners.”
Roobrik has earmarked the Seed Fund investment for product and market development for senior care providers. This includes supporting several new hires for new positions, office expansion, and entry into new markets. “Right now we know what’s working. We just have to build the team and technology to support more customers,” said O’Keefe.
The Pre-Seed Investment program was established in August 2014 and thus far three companies have been funded through the Launch Place Pre-Seed Fund. Between seed and pre-seed funds, the Launch Place has received over 280 applications.
About The Launch Place
The Launch Place, from a $10 million grant received from the Danville Regional Foundation in 2012, assists with entrepreneurship and business development, and job creation and retention through its business consulting, mentoring and training, residential and office subsidies, and two seed investment funds in the Dan River region of Virginia.
Roobrik builds online tools designed to help older adults and their families make informed long‐term care decisions around issues like driving, home safety, and dementia. Their innovative platform combines medical decision science with new models for digital engagement to help families get answers throughout the continuum of care. Roobrik works with healthcare and long‐term care product and service providers who are committed to informed decision‐making for its potential to improve health, emotional, and financial outcomes. Roobrik currently maintains offices in Greensboro, North Carolina.