Shyft on track to unicorn status with AARP, Google deals

Shyft on track to unicorn status with AARP, Google deals

Home-moving marketplace projects 330% net revenue growth this year

AARP and Google partnerships drive 330% projected growth in net revenue from $3M in 2021 to $13M in 2022 and further increase of 130% to $30M in 2023; Greystar pilot begins Q2 2022
AARP is largest membership organization in the US, with ~2M members moving each year
Online home-moving marketplace connects hundreds of moving companies with personal and corporate customers in 68 countries; more than 15M people move home each year in the US alone
Every other AARP branded provider has a billion-dollar valuation: New York Life, Goldman Sachs, Delta Dental, United Healthcare, HearUSA, Expedia, The Hartford and more
Future Labs Capital joins $30M Series B alongside Blumberg Capital, Inovia Capital, Forefront (Barbara Corcoran), Endeavor, Gaingels, Inkwell Ventures (ex-Airbnb), large strategic corporate insurance VC and OurCrowd

Dear Josb,

Moving home is big business. There are about 15 million home moves every year in the US alone. OurCrowd is investing in Shyft, a US-based, fintech-powered marketplace that connects hundreds of moving companies with personal and corporate relocators around the world, upending a sleepy, analog business still shuffling paperwork. The details in this email are based on information received from, and verified solely by, the company.

Since we launched this opportunity on the OurCrowd platform in January, the company reports the following developments:

330% revenue growth forecast
Shyft projects 330% growth in net revenue from $3M in 2021 to $13M in 2022 and a further increase of 130% to $30M in 2023. This forecast is based on recent wins, including major agreements with the AARP and Google, and places the company firmly on track for unicorn status.

AARP branded provider
Shyft has commenced a 5-year, strategic revenue-share deal with AARP, the largest membership organization in the US. AARP Moving Services Powered by Shyft is just one of 15 programs permitted to use the AARP brand name. Some 2 million AARP members move house each year. As little as 1% penetration of the AARP market will enable Shyft to exceed its revenue forecasts without any further business.

All other AARP branded providers are billion-dollar companies including New York Life, Goldman Sachs, Delta Dental, United Healthcare, HearUSA, Expedia and The Hartford, a Fortune 500 insurance company. The Hartford reports that 92% of its $3B in personal premiums in 2020 came via its AARP partnership.

Google Flexible Work – Exclusive provider
Shyft is the exclusive provider for Google's Flexible Work program, working on relocations for their remote employees.

Greystar pilot
Shyft will commence a pilot in Q2 2022 with Greystar, a global leader in rental housing with more than 754,000 multifamily units and student beds under management.

Stanley Rogers appointed CRO
Stanley Rogers, former General Manager and VP Strategic Partnerships at Fiserv (NASDAQ: FISV, $64B market cap), has been appointed as the company's Chief Revenue Officer.

Future Labs Capital joins round
Future Labs Capital, a leading private equity firm, is investing $2.5M in this round, joining Blumberg Capital, Inovia Capital, Forefront (Barbara Corcoran), Endeavor, Gaingels, Inkwell Ventures (ex-Airbnb), and SVB. The round is led by a large strategic corporate insurance VC. Other investors include Ocean Azul, NFX, Band of Angels, Keiretsu Capital and FJ Labs.

Certain information in this email contains "forward-looking information" under applicable securities laws ("forward-looking statements"). These may include, among others, projected performance; expected development of the company's business, projects and partnerships; execution of the company's vision and growth strategy; and the like. Forward-looking statements are not guarantees of future performance and should not be relied on in any way.

Nothing contained in and accompanying this communication shall be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security by OurCrowd, its portfolio companies or any third party. Information regarding OurCrowd's limited partnerships and/or portfolio companies and the investment opportunities on OurCrowd's website is intended and available for accredited investors only (criteria at OurCrowd). OurCrowd urges potential investors to consult with licensed legal professionals and investment advisors for any legal, tax, insurance, or investment advice.OurCrowd operates in Canada through OurCrowd Canada Inc., an exempt market dealer registered in the Provinces of British Columbia, Alberta, Manitoba, Ontario, Quebec and Nova Scotia.