AI-coach for basketball 🏀 Level Up - Investor Relations Update - April 2023
April was another great month for Level Up 🏀 We focused on improving retention rates, testing our AI-coach (computer vision AI), and enhancing app onboarding.
👉 Latest Pitch Deck
Summary in Numbers:
- ARR reached $29,223 (+24.5%).
- The total user base reached 81,000 (+11,000 new).
- MAU: 22,000.
- The iOS app hit a milestone of a 9% retention rate on day 27.
- Active premium subscriptions: 549 (+20.4%), 80% of all subscriptions are annual.
- Increased monthly subscriptions LTV: 50% of monthly subscriptions revenue comes from renewals.
- We have reached 30,000 workouts started in total and more than 100 new workouts per day.
- Had 12 calls with potential investors and scheduled meetings in NYC in May with The Minnesota Twins Accelerator by Techstars, General Catalyst, and other awesome folks.
Our key focus for May:
- Testing a computer vision AI coach designed to improve shooting form and technique.
- Launching onboarding updates for parents, managers, and coaches.
- In-app marketing, including offers, incentives, and "invite a friend" offers.
- Deep GPT integration for proactive user outreach with a personal approach.
Testing AI-coach:
https://youtu.be/dhNOC2Vh0tE
🔥 We are seeing increasing revenue from longer user cohorts.