100 MENTORS IKE Heraklion, Crete, Greece

Company Website: https://www.100mentors.com

Company Email: info@100mentors.com

Employees: 21

Funding State: Seed


Industries

  • EduTech - Education

Technology

  • AI
  • Blockchain
  • Data Analytics - Big Data
  • Software
  • Web or Mobile Application

Business Model

  • B2B

Revenue Model

  • SaaS

Funding Sources

  • Angel
  • VC

About

The first micro-mentoring app where learners assess and develop soft skills that can certify through micro-credentials.


Solution & Product

Mentoring: Problem #1: Cannot Scale. Problem #2: Not measurable. Problem #3: Doesn't develop skills. 100mentors solution #1 is based on "Micro-mentoring". Mentors and mentees interact through asynchronous and byte sized video snippets, that allow users with low attention span and heavy schedules to engage and scale their usage. 100mentors solution #2 is based on "Progressive Inquiry". Our Machine Learning app assesses the inquiry skill progress of the mentee and the app sets learning goals for the learner to improve their questions to the mentors. Consequently the mentors are motivated to act as role models who inspire learners to further explore their talents and ask more questions that score higher. The app tracks the scoring and the progress of the mentee dynamically, and generates individual and collective Output, Outcome and Impact reports. 100mentors solution #3 is based on the "Soft Skills Profiling" mechanism. Based on the progress of their Inquiry Profiles, the mentees can earn micro-credentials for three soft skills: Critical thinking, Creativity and Problem Solving. Those are badges that lead to Certifications; the first of its kind (for Soft Skills).


Innovation & Scalability

It is scalable due to its micro/nano-learning nature and it's the first mentoring of this kind. All mentoring apps and programs require a rigorous engagement by both the mentors & the mentees, which is unrealistic in today's heavy work/academic schedules Tech-wise its scalability is ensured through the automated Machine Learning (Applied Research) approach that assigns scores to questions and the Original Research of our team that makes the soft skills' assessment valid for the first time through a mobile and web app. The innovation is that it focuses on the question, rather than the answer, unlike all the traditional learning tools. This encourages a deeper/more meaningful mentor-mentee relationship, while it requires less time to build it.


Traction & achievements

3,150 active/paying licenses (~80% lead to Certified Mentor status), out of ~6k registered employee users from 33 companies in 17 countries. Active user: >3 interactions (a mobile Q or A or a web live session)/month & certain KPI achievements. Social impact reach 110k users (~30% of those learners become certified for their Soft Skills). Notable clients: 120 international schools, universities (e.g. Brown University), foundations (Prince’s Trust International), international organizations (e.g. the World Bank), employers for their L&D & employee engagement programs (e.g. EY, PwC, McKinsey).


Team & Why Us

100mentors continues its yearly growth pace of x2.5 p.y.(+150%/annum) until 2025, as the 1st micro-mentoring app for those learning organizations worldwide that need scale & visibility/measurability on the ROI of internal (e.g. teachers/senior students to students) & external (e.g. alumni to students) programs with thousands of learners. Mentoring has been a black box; we make it a high return investment. This growth pace places 100mentors as the leader of the software mentoring space. Our strategic focus is for clients/partners with more than 500 members where knowledge management is critical and we can scale the value that the organizations realise through mentoring in less than 6 months. We will become the go-to-technology to accompany every training (hard skills) program, with a mentoring (soft skills) one which multiplies the effect of the training. -- The team consists of a team of practitioners in Business, at the same time we have a robust team of Researchers and Machine Learning specialists and programmers that combine a set of complementary skills that build a robust product that companies & foundations want to buy and offer to their employees/members at a premium, a bit higher that the mentoring industry benchmark, exactly because of the academic backing of the solution provided.


Funding Needs

Status: Actively fundraising. Amount: $3M (already $300k in commitments) Funds' Allocation: 37.4% for Research and Product 24.3% for Inbound and Customer Success 24.6% for Outbound Business Development 13.7% for Overhead


ONE LINER

The first micro-mentoring app, where learners assess, develop & certify their soft skills.


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