uViiVa, a Morrisville startup, aims to transform the aesthetic injectable industry, such as Botox injections and fillers. The CEO will lay out the company’s case at CED Tech Venture.
“uViiVa is focused on transforming the aesthetic industry (i.e. Botox injections and fillers) – an industry that has not adapted to consumer needs the way other industries have done. Examples of previously transformed industries include airlines (Orbitz, Expedia, Airbnb), restaurants (OpenTable), ticketing (StubHub!) and car service (Uber, Lyft),” says CEO Renzo A. Zaldivar.
“The key[s] to the transformation [are] empowering and enabling consumers and solving the long-standing marketing difficulties faced by providers.”
Zaldiva says his firm is the “first-mover in our space” and has “the opportunity to tap into the tremendous potential of a large, growing and profitable market that is ripe for transformation.”
This profile is the latest in a series written, edited and published by WRAL TechWire in partnership with the CED.
- Website: www.uviiva.com
- Email contact: firstname.lastname@example.org
- Address: PO BOX 1361 Morrisville, NC 27560
- CEO: Renzo A. Zaldivar
- Video link: https://www.youtube.com/watch?v=yEm7ns3nbVI&feature=youtu.be
- How many employees? 6
- Link to CED Tech Venture Company Profile: https://cednc.org/company-profile/uviiva
- What is the focus of your business?
uViiVa is focused on transforming the aesthetic industry (i.e. Botox injections and fillers) – an industry that has not adapted to consumer needs the way other industries have done. Examples of previously transformed industries include airlines (Orbitz, Expedia, airbnb), restaurants (OpenTable), ticketing (StubHub!) and car service (Uber, Lyft). The key to the transformation is:
a) empowering and enabling consumers
b) solving the long-standing marketing difficulties faced by providers
- What is the top pain point/business application you are seeking to address?
As a two-sided market, we address the needs of both of our constituent markets:
a) Consumers have previously been restricted by a lack of industry transparency (i.e. price, provider schedules, procedure information). We allow consumers to easily connect with providers in a manner which encourages price visibility and competition. They can now book their preferred provider / price combination when THEY want, on THEIR terms.
b) Providers have traditionally found consumer marketing to be individually cost-ineffective – resulting in profit-draining voids in their schedules. We connect providers with “ready-to-move” consumers, which allows them to strategically fill voids in their schedule, thereby maximizing profits.
- What makes it unique?
uViiVa will be the first-mover in its space. We have identified two physician groups that have developed user-acquisition platforms. One of these groups has since ceased such operations, while the other does not appear poised to expand beyond capture of users for their own practice.
- Why should investors be interested in your firm?
As first-mover in our space, we have the opportunity to tap into the tremendous potential of a large, growing and profitable market that is ripe for transformation.
From a consumer perspective:
The aesthetic injectable market is large, growing and easily identified and targeted.
Per ASAPS (2016), the consumer injectable market is:
- Large (Professionally measured: 7.3 million procedures valued at $3.5B, with the actual market (including all classes of markets) likely double that value.
- Procedure volume +10% vs. 2015, +6,956% vs. 1997
- Revenues +24% vs. 2015
- Easily identified and targetable (91% female, 73% 35-64 years age, 76% Caucasian)
The average procedure generated $475 in revenue with gross margins easily exceeding 50% (and the procedure took about 20 minutes to perform).
Our core consumers are “tech-savvy”, which bodes well for our platform:
- ~90% of adult women in our largest core demographic own Smartphones (U.S., 2016, Pew Research Center).
- ~83% of adult women use Facebook (U.S., 2016, Pew Research Center), with slightly higher usage rates in our largest core demographic.
From a provider perspective, the market is extremely fragmented, making it difficult for any single provider to cost-effectively market to consumers. This makes uViiVa an attractive platform to most providers.
Based on our research and provider interactions, we can affirm the following:
Providers have confirmed that “open slots” (unbooked appointments) are a recurring issue that prevents them from maximizing business opportunities.
Cost-effective consumer marketing is an issue for all providers.
The ability to discount “near-term” or “difficult to fill” time slots is a positive (for both M.D. and non-M.D. providers).
- How are you financed at this point?
We are self financed and have recently raised a small friends and family seed round.