“The biggest immediate benefit is that you gain a greater awareness of your current situation and receive some really great educational material on what you can do to change it.”
A Tellsite survey on wearable devices last year found that 36% of Australians currently own a smartwatch, up 4% from the previous year. Research from Mordor Intelligence says the Australian wearables market is estimated to be worth $3.5 billion this year and could grow to $6.5 billion by 2029.
UAre aggregates the data from these technologies in one place, normalizes it for its customers, and then uses it, along with information about habits and relationships, to provide an estimated life expectancy.
Pasquez, Ellison and Lewis are optimistic about the future of the business, predicting $30 million in sales and a $150 million valuation by the end of 2025. They expect 500,000 customers and 200 businesses to sign up for the application.
UAre expects to have 30 corporate clients and 50,000 individual members, generating approximately $1 million in revenue, by the end of 2024. Growth will be based on corporate adoption and investments in premium services such as elite athlete mentoring and epigenetic testing.
“We’re giving companies a little more visibility into the impact their wellbeing programs are having on their teams and giving them ideas about where to invest next,” Pasques said.
