Simplifying parent-child psychology.
Raising emotionally strong families.
- Type: Retail
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What is ParentalEQ?
ParentalEQ is a coaching platform that helps parents to raise emotionally strong families. The platform has simplified the complex area of parent-child psychology for every parent to use, with user-centred design thinking and the latest digital software powering its outcomes. ParentalEQ has created a unique blend of psychology theory, practice, methods and parenting programs, and has shaped them into simplified courses that fit into the busy lives of modern day parents.
The business intends to address the traditional difficulties and inefficiencies faced by families in need of support. Using a unique registration process, parents can identify their key challenges, access a parenting expert and utilise knowledge modules and activity modules to expand their understanding. The platform has a strong focus on outcomes for parents and has amassed close to 10,000 downloads to date with limited marketing spend and a focus on technological development. ParentalEQ already has a global footprint with users and partners across the globe.
ParentalEQ is aiming to do to parent-child psychology what Xero did to accounting, and what Calm did to adult stress and anxiety.
- Widespread Problem with Limited Solutions
ParentalEQ’s platform provides a much needed solution to an age-old problem. Challenges faced by parents have traditionally been addressed through inefficient and outdated pathways such as books, self-directed research or expensive courses.
- Strong Initial Traction
Despite being in an early prototype version, and with limited marketing spend, ParentalEQ’s application has been downloaded almost 10,000 times and has been piloted in 5 prestigious schools across the UK, with more to come.
- Significant Market Opportunity
Across Australia, the UK and the USA, the market opportunity is significant, with 76% of parents concerned about their children’s mental health and 20% of children suffering mental illness each year. This reflects a $1.4 billion opportunity.
- Excellent Customer Reception
ParentalEQ continues to receive positive and strong feedback from its initial parents and school clients. The team regularly listens to key stakeholders to drive the direction of the platform as a consumer-centric solution.
- Experienced & Diverse Founding Team
The founding team of ParentalEQ is deeply experienced across a range of disciplines. With expertise across digital solutions, product and health, the team behind the platform is well-suited to its growth. Their backgrounds span Shazam, Unilever, Philips, 7Plus and more.
- Notable Early Backers
ParentalEQ has received early venture backing from Skalata Ventures, alongside grant support from the NSW Government, reflecting the importance and potential of the platform’s proposition.
"ParentalEQ gave me some great tools to deep dive into my child's psyche and develop a greater understanding of their fears, needs and wants. "
Parents are not psychologists, and yet are often required to address difficult and complex emotional health challenges. The vast majority of parents don’t understand emotional health, in particular the link between the brain, emotions and behaviour.
Those seeking support face a range of difficulties and frictions. It can be time consuming and costly for parents to seek a relevant doctor or practitioner, create a mental health plan and wait to see therapists as required. These steps are also responsive, rather than preventative, meaning that parents need to identify problems that their children have already been suffering from prior to finding a solution. The stigma associated with mental health can add further difficulties for families seeking assistance.
Notably, many of these frictions have only been exacerbated by the pandemic. Pre-pandemic wait times of two months in some cases have doubled, with some unable to access the help they need. Financial difficulties alongside restrictions on movement have made it even more difficult for families struggling with anxiety, depression, behavioural and emotional challenges.
The ParentalEQ Solution
ParentalEQ is simplifying parent-child psychology for every parent to use. The platform is pioneering a solution that empowers parents to achieve better outcomes for their families. ParentalEQ is democratising access to mental health support, and helping parents to be the best they can be while removing the stigma of seeking help.
Technology-driven industry disruption has occurred across many other markets. Xero democratised access to complex accounting systems with easy to use software and tools. Calm simplified mental health care with its library of accessible content and tools to manage stress. ParentalEQ is positioning itself to be to parent-child psychology what Xero is to accounting, and Calm is to adult anxiety and stress. The platform utilises a range of resources and educational content for parents and children combined with professional interaction with therapists and psychologists.
ParentalEQ aims to provide a full solution to family mental health. Rather than waiting for problems to arise, ParentalEQ aims to educate and equip families to become emotionally stronger and more resilient. In cases where problems have already arisen, the platform utilises its support functions to actively engage and resolve issues through accredited professionals. As the platform continues to grow in functionality, additional resources and features to resolve ongoing mental health problems will be developed.
"The modules are so easy to understand and have prompted so many conversations with my kids. I highly recommend it."
The market opportunity both locally and internationally for family mental health is broad and growing. There are 44 million families across Australia, the UK and the USA with children aged 5-12, reflecting a market size of $1.4 billion. Of these, 76% of parents are concerned about their children’s mental health, and 20% of children suffer mental illness each year. The impact of the COVID-19 pandemic is likely to have only worsened these problems.
The rise of technology platforms in the mental health space is a clear indicator of the potential within the industry. Platforms such as Calm and Unmind (both unicorns), targeted more at adult anxiety and stress, have rapidly grown across the globe and currently service millions of customers. The emotional health of families, and parent-child psychology in particular, remains a relatively untapped segment, presenting a key opportunity for ParentalEQ to grow its presence.
Increased investment in other areas of mental health such as mental telehealth consultations further reflects this opportunity. A new breed of digital platforms such as Lyra and Ginger (both unicorns) allow individuals to connect with professionals in a safe and virtual environment. ParentalEQ positions itself at the intersection of these trends, providing an end-to-end experience to disrupt the family mental health industry for the better.
"I found the Worries, Fears or Anxiety module most useful. A simple task such as writing your child's anxieties down with them on a piece of paper allowed them to 'externalise' the cause of their anxiety, make it tangible and therefore easier to discuss and review."
Why Equity Crowdfunding
ParentalEQ has chosen to raise funds using equity crowdfunding as a means of involving its community and key stakeholders. This campaign will allow the company to create parent advocates, giving them a chance to get in on the ground floor at an early stage and share in any success, while driving future direction and growth of the platform. The company believes in the benefit of its customers owning a slice of the business. These are the key stakeholders for whom ParentalEQ is building its service.
The very parents who know these challenges best are the ones who should own part of a company on a mission to revolutionise family emotional health. ParentalEQ wants to allow these individuals to join the journey of growth and to become a force for good in the development of the platform. The company wants to tell its story at scale, alongside raising capital to drive its growth.
Australian Corporations Regulations - Warning Statement About Equity Crowdfunding
Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of ventures is speculative and carries high risks.
You may lose your entire investment, and you should be in a position to bear this risk without undue hardship. Even if the company is successful, the value of your investment and any return on the investment could be reduced if the company issues more shares.
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Even though you have remedies for misleading statements in the offer document or misconduct by the company, you may have difficulty recovering your money.
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