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Problem
The transition to parenthood is a massive time of disruption
There are significant gaps between what our health system and employers provide and what families actually need; the implications are staggering.
Parents are burnt out, and women bear the most significant impact on their personal and professional lives.
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Parental burnout is at an all-time high
Pregnancy and parenting-related issues represent
38% of life's most disorienting and destabilizing stressors.
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Female career exit rates exacerbate the talent pipeline problem that employers face
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The gender pay gap is primarily
due to motherhood and the challenges
women experience in the workplace because of it.
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It is a time of higher risk of physical
and mental health complications.
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Extending maternity leave alone
does not work. It often results in one
parent leaving the workforce entirely.
This is not a US-only problem. <30% of first-time UK mothers return to full-time work within 3 years of maternity leave. In the UK, women have one year of maternity leave.
Employers need to retain mothers, and that means parents. Today, women account for 60% of college students, and 86% of women ages 40-44 are mothers.
Though working women in the US are waiting longer to have children, they are more likely to have children than women a decade ago.
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Employers are looking to expand
health benefits, and retain talent
while managing costs.
- With record numbers of employees leaving their jobs, the “Great Attrition” is putting pressure on employers and raising their awareness of the importance of employee health benefits.
- Talent acquisition and retention efforts are increasingly important. And focused on work-life balance.
Health benefits can help employers attract and retain employees |
|---|
Forty percent of employees who responded to a 2021 McKinsey survey said they are at least somewhat likely to quit their jobs in the next three to six months. Among those who are at least "somewhat likely" to quit in that time period, more than 60 percent said that they would leave without a job in hand. Compared with before the pandemic, the proportion of employers reporting that benefits are "very important" in talent management increased 11 percentage points.  |
Solution
Phoebe solves for employee retention and productivity
Our digitally delivered coaching service, paired with an expert-based community of mentors, provides personalized and targeted interventions when employees need them most.
Our method is evidence-based
Additional investment will assure Phoebe can scale
and deliver impact across the entire spectrum of Work-Life balance.
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Proprietary programs + data + group experience =
better outcomes at a lower cost
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Product
Today we have two journeys our members join
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Pregnancy & Postpartum Support
32 weeks
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Life + Work Integration Coaching
8 weeks
Traction
$2.5M ARR from clients already in negotiation or contract*
+340% growth in revenues YOY
+450% growth in new clients with an average employee base of 5,000
2023 expected ARR of $1.2M*
Demand for our services will only continue to expand through corporate Diversity & Inclusion expansion.
Traction to date
Customers
Working with 10+ employers in the US, CAN, and UK
- Customers in pilot include Morgan Stanley, Quinn Emanuel, Critical Mass, McKinsey Consulting and Oliver Wyman
- Phoebe has supported 1,000 families to date
Our remarkable member stories
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A benefit that doesn't feel like a benefit
“I came in a bit skeptical, not totally understanding what this all could/would be. I thought perhaps it would feel more like a corporate benefit than a community, but I was immediately enamored by the faces and the stories. Such a powerful group of people to be a part of. Thank you for taking the time to reach out individually in addition to everything else you do. Phoebe’s investment in this program (and these birthing people) is next level. You have me questioning my career choices and impact in the best way possible.”
-Tara
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A lifeline within a community
“The support from Phoebe was incredible. I felt part of a caring community where I could share anything and ask for help. This made a huge difference during an isolating and pretty dark (postpartum) period. The biggest impact was having women at Phoebe share stories and subsequently feeling less alone.”
-Alysha
“Phoebe is currently a life saver for me. As a new mom I find myself panicking about the new things I'm learning with my baby and I feel like I can ask any question related to Mila and always find some piece of mind with any of the experts there. Phoebe makes me feel part of a community and gives me that social network I desperately need right now.”
-Maja and Srdjan
“Phoebe gave us quick access to resources we didn't even know we needed. They made it effortless to connect with experts who led us through some challenging times. We really appreciated the thoughtful and timely responses from Phoebe and value the community they've created.”
-Clare and Jenifer
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A benefit that builds trust and goodwill with my employer
“I feel lucky to work with an organization that provides this type of care and would proudly advocate for the benefit to be available more broadly.”
-Clare and Jennifer
“I appreciate that [my employer] provides this. It makes me feel like a supported mother working here.”
-Alysha
“It's great that we have access to such an amazing resource. Once again, access to Phoebe and services like it validates a strong sense of community and support that [my employer] offers.”
-Maja
“It reflected positively on [my employer] because I felt that they understood the challenges I was and would be facing and were proactively helping me.”
-Erica
“I brag to all my friends about how unbelievably supportive of new mothers [my company] is, to offer such a service like this. It makes me proud to be part of a company so focused on helping women, mothers, and families.”
-Neeti
Business model
Our go-to-market strategy starts with top employers
We solve employers' most burning problems with women and parents in their workforce.
We continuously engage directly with HR and Benefits Managers to adapt and improve our programs to respond to the specific needs of the clients we serve Finance, Law, Management Consulting, and the Advertising Industry.
We have built an ecosystem where people and experts connect freely and often. Together they improve the outcome of challenging life experiences and build resilience, collectively.
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Market
Employers are moving towards targeted benefits that deliver ROI
The employer benefits market is massive and growing
82% of US workplaces are committed to supporting parents through benefits in 2022
Top workplaces are committed to supporting parents through resources like telehealth, fertility and adoption support, egg freezing, and more, according to research by Great Place to Work.
As top companies compete on benefits, culture, and attractiveness to talent, family benefits are becoming a key differentiator.
Immediate opportunity to reach
$128M ARR with 10% of US employer market*
(Pregnancy to postpartum, US only)
Competition
Phoebe is the only integrated offering built to target working parents holistically
Competitive Advantages
- An inclusive solution that integrates life transitions with mental health and professional development
- Employers want peer-to-peer interaction
- Employers need help recruiting and retaining women
- Employers need to offer something that works as a health and wellness benefit and is matched to DEI efforts
Vision and strategy
Our mission is to help women and families succeed,
both personally and professionally, during the most important changes in their lives.
We believe in building equity at home and in the workplace — and that starts by supporting working mothers.
Goals
- Invest in technology – Publish a native app for our platform and invest in extended functionality.
- Increase Traction – 20 new corporate clients and $5mm ARR.
- Build on Data to support our model with deeper and more targeted research.
The future
- Data-informed care – Behavioral AI, and sentiment analysis will give us deep and dynamic knowledge of our users to support an immersive, engaging experience.
- Power of Scale – Our margins increase as we grow, so does our value to users. Our model allows us to spread and allocate resources to give more to those with more significant needs and the right level of support to everyone else.
- Archetypes – A deeper understanding of our user archetypes will allow us to effectively match a member to an experience and develop a lasting relationship with the member.
Funding
Backed by experienced investors
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$2.0M Pre-Seed Round
Already raised $470k from SAFE notes
- Timing: Now
- Runway: 18-24 months
- Valuation: $13M post money
Founders
Emily Klingbeil
CEO
After complications in pregnancy derailed Emily’s career, she founded Phoebe to provide other mothers the support she lacked. Emily has 17 years of experience in global finance and investment banking. Prior to founding Phoebe, she was the Head of Investor Relations for a $30bn market cap global beverage company and the Head of Equity Research for Beverage and Beauty at Credit Suisse. She holds an MBA from Harvard Business School, where she graduated with Honors.
Karolina Belwal
COO & CPO
Karolina co-founded Phoebe to support new parents as they parent and continue to pursue their careers. Karolina is a strategist and innovator who has excelled in driving innovation in both Corporate and Startup environments. Prior to founding Phoebe she was a strategist at JP Morgan, American Express, and S&P Global and the Head of People Operations at S&P Global. Karolina has built digital platforms and products and run global product and technology organizations. She holds an MBA from The Ross School of Business at the University of Michigan.
Dr Lucy Hutner
Medical Advisor, MD Reproductive Psychiatry
Dr. Hutner is an internationally recognized expert in women's mental health. MD from UCSF, residency at Harvard, fellowship at Columbia. Leader in the emerging medical specialty of reproductive psychiatry. On the team that created the first comprehensive reproductive psychiatry program at Columbia. On the national task force that created the first standardized digital curriculum in women’s mental health in medicine. Co-editor of the first comprehensive textbook in reproductive psychiatry.
