Capital Returns. Three Scenarios.
What the $1.0M pre-seed could become. Conservative, base, and aggressive scenarios modeled from validated unit economics and practitioner activation data.
$0.0M
Pre-Seed Raise
0 to 15mo
Runway
Pre-Seed to Seed Bridge
$1.0M funds 12 to 15 months of operations. The seed round triggers when five conditions are met, each independently verifiable.
90-day retention proven
Less than 5% monthly churn
Contribution margin validated
$21.65 to $23.35 per subscriber/month
400+ practitioners activated
Across 20+ states
$410K+ monthly recurring revenue
Base case target
Closed-loop validation complete
NanoActives + Pulse + NORA AI working together
Three Scenario Model
Each scenario is modeled from the same unit economics with different conversion rate and churn assumptions. Contribution margin range: $17.70 to $23.35 per subscriber per month.
Exit MRR
$0K
Conversion Rate
0%
Subscribers
0
Contribution Margin
$17.70 to $21.65/mo
Exit MRR
$0K
Conversion Rate
0.0%
Subscribers
0
Contribution Margin
$19.50 to $23.35/mo
Exit MRR
$0K
Conversion Rate
0%
Subscribers
0
Contribution Margin
$21.00 to $23.35/mo
Exit Multiples and Comparables
Mere combines elements of four proven categories: clinical protocols (Thorne), wearable data (Oura), subscription retention (Ritual), and unit economics (AG1). The closed-loop integration is unique.
Oura
Wearable data platformValuation
$11B
Revenue
$1B+
Smart ring + subscription
Ritual
Premium wellness subscriptionValuation
$200M+ raised
Revenue
$100M+
Supplement subscription
Thorne
Clinical channel authorityValuation
$3B+
Revenue
Not disclosed
Clinician-validated supplements
AG1
Subscription unit economicsValuation
$1.2B
Revenue
$600M
Single SKU subscription
Mere's Position
No single comparable captures Mere's full model. The clinical channel mirrors Thorne. The wearable data platform mirrors Oura. The subscription mechanics mirror Ritual. The unit economics simplicity mirrors AG1. But the closed-loop system that connects all four layers is unique to Mere and represents the key value driver for valuation multiples.
Use of Funds
Every dollar mapped to a specific milestone. Product and manufacturing take the largest share because the technology is the moat.
0%
Manufacturing
NanoActive production scaling, raw material procurement, hGMP line optimization
0%
Product
Pulse ring development, NORA AI training, app platform, closed-loop integration
0%
Marketing
Practitioner activation, clinical outreach, educational content, launch events
0%
Working Capital
Inventory buffer, operational runway, compliance costs, legal and accounting