Pitch Deck December 18, 2020 Kristoffer Engebø Hundershagen CEO & Founder Eduplaytion AS - Numetry
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Pitch Deck December 18, 2020 Kristoffer Engebø Hundershagen A GAME BY CEO & Founder Eduplaytion AS
Executive Summary
Today, there is a rising demand for quality education with a modern and interactive
approach. This gave birth to Eduplaytion – a Norwegian-based EdTech company made
Key Milestones
up of experienced teachers and skilled game developers on a mission to create high-end,
game-based learning solutions for the international B2C and B2B market July ’18 Dec ‘18 July ‘19 Dec ’19 Sept ‘20 Dec ‘20
Pre-Production Production Beta Launched
Brass Tacks
Created and user-tested the Created various tools and Published games through an
first prototypes, choosing supporting technologies, online portal, first paying user
≈ 25% $ 480 USD technology, ensuring financial
buoyancy, hiring team
ensuring financial buoyancy,
established a system of
rolling in, collected feedback
and automated metrics.
The amount of 5th graders word-wide members, creating story feedback metrics and parent rapidly iterated user
The yearly amount spent by US parents concept and characters, finding controls, created a workflow experience based on data,
demonstrating difficulties with maths on video games for their children the voice of the game to follow academic guidelines preparing to scale
8/10 4,000
Children (aged 8–15) in Nordic countries The number of users Eduplaytion’s first title,
who play video games daily Numetry the Math Game, currently holds
Market Trends 30 Go-Getters
We don’t wait for things to happen. We make them happen
The global game-based learning market worth listed in B USD
0
2020 2025
MNOK 11 +20 Schools
The total amount of money raised from The total of amount of partner schools
The Proof is in the Pudding private investors and public grants we work with to ensure quality
The biggest provider of math-based solutions is Prodigy. Since their humble University of Agder 3 Continents
beginnings back in 2011, they have grown from 3,000 local users to more than 50
million users. Today, they are bringing home $ 56.1 M USD in annual revenues A two-year R&D project to be initiated The team is strategically positioned to
Jan ‘21 with an acknowledged university scale business in Europe and America
Pain Point Too many children dislike mathematics and don't see the point of studying it
Why is That? • Lack of FUN experiences when learning • Mostly ABSTRACT concepts presented in textbooks • There is NO EASY WAY to access adaptive content and stay informed
Solution
Numetry – a game-based learning experience where children aged 9 to 12 …
PLAY MASTER ACCESS
as they mathematics through tailored material that their
explore and learn relatable and meaningful parents can track
gameplay; and
Numetry’s Core Loop
Numetry CAPTIVATES … presents them with
students through RELATABLE missions as
exciting storytelling … they travel through space
… gives their parents real-
… grants them COMPELLING
time INSIGHT into their
rewards upon completion;
children’s academic journey
and …
Key Crew Members
Lead Pedagogue CTO Creative Director Community Manager CEO & Founder
• Well-known lecturer and • +10 years experience • Author of six books • +8 years experience • Master’s in international
TV persona leading small and big on game design running one of Norway’s business
software projects most popular YouTube
• Author of numerous • Experienced, highly- channels • Extensive international
educational titles • Strong business skills sought narrative network and language
designer • Well-known by our skills
• +15 years of teaching • One of the biggest target audience
experience shareholders in • Previous entrepreneurial
Eduplaytion AS & teaching experience
Board of Directors Versatile composition with extensive experience in strategic fields
Shareholders per October 25, 2020 Aadland Invest AS 0.50% Magnus Berglund Informatica EPP 4.55% Acquire AS 2.25% Malo Invest AS 1.09% Angel Challenge AS 0.50% Missi Holding AS 5.58% Breivik Invest AS 1.49% Orage AS 1.01% Endre Johan Bukkøy Natvik 0.87% Patrick N. Holleman 0.09% Forlagshuset Vigmostad & Bjørke AS 5.95% Procopius AS 1.49% Fjord Invest Såkorn AS 4.49% Produksjonsboksen AS 1.24% Fjordvekst AS 2% Sogn og Fjordane-Fondet AS 1.50% Germán Barros 0.50% Soput Acceleration AS 2.50% Ganymede AS 0.50% Tjora Undervisning AS 0.87% John Helge Lunde 0.98% Vatek AS 1.50% Kristoffer E. Hundershagen 51.84% Vestlandets Innovasjonsselskap AS 2.48% LAÅ Holding AS 0.98% Vitali Holding AS 3.24%
Competitive Overview
MEANINGFUL
DULL FUN
ABSTRACTHow We Make a Difference 1 2 3 4 Embodiment & Skins Engaging Story Relatable Missions Analytical Tool
Business Model
Consumers & Schools Price Model Recurring Model Highly Scalable
• Parents are target buyers • Free for everyone • The Premium plan will be • Supports rapid creation of
offered as a subscription new content
• Early adapting teachers to • Access to all features requires a
spread the game in their school premium account • Seamless cashier solutions, such • Fast and cost-efficient
and local school districts as Vipps, Stripe, or payments via localization
• Identifying the most valuable mobile provider
features for schools, then have • Virtually all code is reusable
them upgrade to PremiumDipping our Toes – Establishing B2B
1 2 3
Comparative Advantage Video Game Mercenaries Growing Another Arm
• Eduplaytion’s comparative advantage lies in • In today’s day and age, this skill is highly • That is why Eduplaytion aims to close our
our ability to transform the syllabus into sought after. That is why we, in additional first B2B sale in 2021, with the hope that
highly entertaining video game experiences to selling our own products, see a this could turn into an additional revenue
tremendous opportunity in offering our stream for the company
services to learning content providers, such
• Unique team composition and well- as publishers • This could yield a higher compensation,
established and proven successful without us needing to worry about sales
partnership with schools • These actors already have customers but and marketing
might not have the know-how in how to
effectively digitalize and gamify their
content to meet today’s high standards.Why Go Premium
Level Up Ranking New Content Keep Up
Why? Why? Why? Why?
Kids love the prospect of being able to upgrade their We all love to beat our friends at something – and Whether it's daily quests or weekly challenges, kids Parents want to stay on top of their child's
characters – and of course having the coolest skins particularly kids. Today, most kids play with and love getting new content on a regular basis. We will academic performance and growth, and with
and decals amongst their peers. They can’t get against other kids from all over the world. With create new content constantly so that our users Numetry’s powerful analytical tool, they can. All of
enough of them! Kids today beg their parents to pay Numetry, we can harness that love of online playing always have something new to do in the world of a student's progress is tracked, and our tools can
20 USD to unlock a dance in the online game to get kids to practice and master mathematics. Numetry. point out any weak areas in the student's learning,
Fortnite. so that teachers and parents can intervene in
specific skills.Timing
COVID–19 Digitalization STEM EdTech
• COVID-19 has increased the • Norwegian students soon have • Tomorrow’s jobs require students • Great momentum within the
demand for digital learning one computer each at school to master more and more STEM EdTech industry
solutions fields
• Developing countries’ digital • The global market for game-
• Millions of students across the infrastructure is increasing • Many students experience based learning solutions
world are either currently being learning difficulties in maths estimates to earn over $28
home-schooled or may be soon • The demand for high-end digital billion USD by 2025
learning solutions is only going up • Know-how in STEM is no longer
• Even in developed regions just for select groups; everyone • Highly profitable market
like Scandinavia, students, • More and more subjects in will need extensive knowledge
parents and teachers are short of schools are being digitalized • Key-market players keep
high-end digital solutions that • Drop-out rate at high-schools in acquiring and buying in on
engages and motivates students • UN’s Sustainable Development Norway has been consistently at exciting EdTech companies
to learn over time Goal # 4 – Quality Education 25% for the past years around the worldMarket Validation
Consumer Behaviour Outlook The Nordic Legacy Acquisitions
• 8 out of 10 children play video • The global game-based • Norway – a pioneer in the world of • In recent years, we have seen
games on a regular basis learning market was worth EdTech. We stand in high regard several acquisitions of game-based
around US$ 7 Billion in 2020 with most of the world’s countries, learning companies
• Parents spend $ 430 USD/year on which gives us a significant
video games for their children • Looking forward, the market advantage as suppliers in these • The rapid user growth and scaling
value is projected to exceed markets potential drives these acquisitions
• Educational content is the most US$ 28 Billion by 2024
valued component when parents • Company such as Its Learning and • Company’s are being acquired from
assesses a video game • Game-based learning Kahoot! have really put Norway on three to five years of operations
the map
expected to play an
• Virtually every school in the world • Kahoot! alone acquired Dragonbox,
important role in children’s
uses ICT solutions as supplements, • The latter has already completed Poio and Drops for a total of 500
education in the years to
with mathematics being the most several acquisitions of other games MNOK
come
frequent subject areaCase Study – Prodigy
The biggest provider of math-based solutions is the Canadian company Prodigy. From their
humble beginnings in 2011, they have grown from 3,000 local users to more than 50 million
The Sky is the Limit
users. We have analysed the strategic decisions that triggered their growth.
The company is now spreading their wings as they aim to enter more markets.
Below is a list of the estimated market size in some countries (children aged 9–12)
User Growth 50,000,000
China Australia
53,000,000 930,000
34,200,000 India UK
66,000,000 2,000,00
25,800,000
Brazil Mexico
11,000,000 8,000,000
12,200,000
4,300,000
1,200,000
3,000 130,000
Key-Take Aways
2013 2014 2015 2016 2017 2018 2019 2020
Highly profitable market with great opportunities to scale
$ 56.1 M USD +300 Employees
Their Secret Sauce
Prodigy’s annual revenue stream, They look for a cultural fit, that is, people
The freemium model has been a great way to try to find product-market fit. Prodigy generated from 1.8% of their users who have a growth mindset and grit
figured out the core features people love, and then withheld some of them drive
subscription. Moreover, deploying the game for the web (rather than as an app) and Math is Math Data-Driven
linking all content to a math curriculum were paramount for their success.
The nature of math has made it easy to Build things based on what the
scale the product and enter new markets customer actually wantsProdigy vs. Numetry Characters / Avatars Story / Fiction Leaderboards / Competition Social Features Gameplay / Visual Design Learning Output / Relatable
Go-to-Market Strategy
Two paths – same objective: recruiting freemium users and convert a
certain percentage of them to premium
Path #1 – Academic Credibility Path #2 – Community Building
We take the role as credible content For the children, we take the role as the cool
providers for the parents and teachers older brother that they look up toPath #1 – Academic Credibility
Cold-Calling Schools
• Our team’s credibility, our • +2,000 users acquired from
product’s appeal (and less than 30 calls to date
Direct & Inbound Marketing freemium content) makes
Legitimize trying out Numetry a no- • Managing these schools,
brainer for schools turning them into ambassadors
• Havard's academic reputation
• Engaging content via blog • Ads in (local) newspapers to helps us reach out to schools and
posts, photos, and general promote the game and our parents to make sales pitches
information about our mission
product
• Our team’s composition gives us
• Clearly communicate our user-
credibility and depicts us as
• Extensive SoMe strategy, driven approach and how we
serious actors with an interesting
driving people to our iterate based on user feedback
angle
website and game
• Presence at educational fairs
• Customers realize that we are one User-Driven
• Paid Facebook and of them – we are parents and
Instagram campaigns • Partnership with publishers
teachers, we scratch our own itch • Organized as a TV series • Keeping engagement high
• Strategic partnerships, e.g. with weekly content drops during the wait with new
• We genuinely want to solve a content
with ADO Arena, Bergen problem
• Episodes, chapters and
monthly meet-ups • Leaderboards and in-game
rewards for players to collect
•Path #2 – Community Building
Active Ownership
• Children are invited to • Making customers feel a
participate in every step of sense of ownership to the
Engagement the development end- product, which
Hitting the Trends eventually will lead to referrals
• Engaging competitions
• Creating engaging and • Partner up with up-and- • Preben Fjell ran one of Norway’s
diverse content, driving coming youtubers with most popular YouTube
users to our game +3,000 followers channels. 5+ years of content with
as many as 350k views per video
• Inviting children to engage • Digital and physical Meet and 252k subscribers
with our community outside Ups to promote the game
the actual game • Extensive knowledge in how to
• Heavily referral-based build and engage audience
• Strategic partnerships, e.g. through social channels Content Release
with ADO Arena, Bergen • Leaderboards and in-game
competitions • Helping us take the role as the
• Organized as a TV series • Keeping engagement high
cool older brother that they look during the wait with content
with weekly content drops
up to
• Episodes, chapters and • Leaderboards and in-game
monthly meet-ups rewards for players to collectEstimated User Growth 2021
Two-step model: continue to gain traction and tune the product in the
Norwegian market through Q1 of 2021. We plan to introduce it
to the Brazilian market in Q2, where we already have a strong
presence.
# of Premium Users 73.000
65.000
58.000
51.000
45.000
# of Freemium Users 40.000
38.000
32.000
26.000
20.000
15.000
9.000
Jan 21 Feb 21 Mar 21 Apr 21 May 21 Jun 21 Jul 21 Aug 21 Sep 21 Oct 21 Nov 21 Dec 21Feasibility For the past four weeks, some thirty Norwegian schools have been contacted by phone. Our team’s credibility, our product’s appeal and the free-to-play aspect, makes trying out Numetry a no-brainer. And from those thirty calls, around 2.000 accounts were generated. Now, we want to reach out to each of the almost 3.000 elementary schools in Norway and offer them the same thing. In order to do that, we intend to hire two students.
Why Invest in Eduplaytion
1 2 3 4 5
Great Timing & Product Industry Experts Go-Getters Make a Difference Launched On-Time
From a one-man start-up Demonstrative ability to attract We are a scrappy team that As recent times have Product launched as scheduled
operation to arguably being one and hold skilled personnel, doesn’t wait for things to demonstrated, investing in and are receiving great feedback
of the most exciting EdTech successfully established a global happen. We make them happen. EdTech can easily turn highly to date. We are now starting to
companies in Norway team from three continents. Offering a game-changing GTM profitable. Moreover, making a get our first paying customer
Moreover, a corporate strategy and a highly scalable difference for millions of children rolling i
governance is stablished business model across the globe
ensuring good internal routinesTraction
Beta Launched.
Paying
Customers
MNOK 5.2 in
Grants and
MNOK 2.8 Investments
Norwegian
Res. Council
First MVP &
Partnership
Recruiting MNOK 2.6 in with 12 Schools
Team Grants and
Members Investments
The Birth of Early Concepts
Eduplaytion & First
PrototypesTechnical Road Map
Phase I: Performance Phase II: New Content
• Implementing version control • Increase the number of mini-
allowing for faster builds games and expand each
• Implementing addressables to existing mini-game’s playtime
allow faster loading time and • General playtesting
playtesting of that • Come April 1, min. 3 chapters Phase I Phase II Phase III Phase VI Phase V Phase VI Phase VII
• Improve production routine and and a total of 13 mini-games Performance New Content Achievement Infinite Modes Tutorials Social Features
project management
Systems
to be done
• Continue to improve on- • Min. 5 chapters and 21 mini-
boarding games come August 1
Phase III: Achievement Phase IV: Infinite Modes
• Leaderboard support • Instead of having three levels
• Profile screen inside each min-game, we will
• (Daily) rewards keep adding more levels. The
• Artifacts constant pursuit of new and rare
• Character customization artifacts will incentives children
to keep grinding
Dec 2020 Jan 2021 Feb 2021 Mar 2021
Phase V: Tutorials Phase VI: Social Features
• Making it easier for children to • Rewarding players that recruit
understand what they should do friends in-game
with each mini-game • My Crew – allowing players to
• According to feedback, the top- create their own guild and see
tree most important feature to each other’s avatars and
implement/significantly improve achievements
Phase VII: Systems
• FEIDE integration
• Beta version of the parent portal, and sending them weekly e-mailsEffectivization – Reducing Overhead
1 2 3
Structural Advantages Faster. Cheaper. Predictable. Reducing Burn
• Numetry consist of a myriad of mini-games • Starting from Q1 2021, Eduplaytion will • The company has already identified areas
on top of a platform start moving away from being dependent where we can improve our monthly burn
on in-house developers to create our mini- rate by around 20% from February 2021
• This was a technical decision we took to games. We will put all our future mini-
allow us to distribute work to developers all games out for outside agencies around the
over the world and not be depending on in- world that can do the job fastest and
house knowledge, these market players can cheapest without compromising the quality
do things faster and cheaper than us
• This will allow us to keep the burn rate
more stable instead of havingBurn Rate 2021
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC SUM
Progragramming 203 194 194 194 194 194 194 194 194 194 194 194 2,600
Design & illustr. 121 106 106 109 106 127 106 106 109 106 106 115 1,300
Employees. & Ped. 142 142 142 142 142 142 142 142 142 142 142 142 1,700
Other Costs 126 109 196 165 141 140 208 114 132 121 212 120 1,900
SUM 567 526 614 585 558 578 650 531 815 538 629 546 7,100
CASH BAL. 4,400 3,900 3,300 2,900 2,400 2,200 1,900 1,500 900 1,900 1,500 1,300
Based on Eduplaytion AS – Cash Flow Forecast 2021.exeFunding Needs
Pre-Money Valuation
MNOK 22
• Product released, strong feedback with
Asked Amount 2021 4.500 users registered, of which 300 paying Innovation Loan 2021*
• Strong momentum for EdTech solutions, ref.
COVID-19 and Kahoot!'s acquisition of Poio
MNOK and Dragonbox in 2019 MNOK
• Significantly reduced both technical and
Up to 4.5 market risk in establishing a unique 2
collaboration with ten pioneer schools in
Norway and abroad
• Successfully built a team of constructed of
industry experts, such as Håvard Tjora &
Preben Fjell
• Phenomenal traction to date and a unique
international team composition
• Established R&D project with a university
* Innovation loan from Innovation Norway is being consideredMedia Coverage
Our Mission Becoming the global go-to provider for captivating and high-end quality learning solutions
User Feedback
“ Som forelder opplever jeg at andre skolespill er trauste og
ganske kjedelige. Dette spillet har jeg mer tro på fordi det
engasjerer og ikke føles som skolearbeid.
”
Jakob’s (10) Mom
Aina Brekke
Bergen
Tlf.: 414 28 579User Feedback
“ Det føltes ikkje som, du veit, noko matte-aktig. Det var meir
som eit vanleg spel – berre at du lærer i tillegg!
”
Viktoria (11)
Askvoll School
AskvollUser Feedback
“ Numetry er på et helt annet nivå enn konkurrentene når det gjelder
spillopplevelsen. Tegningene, lydene og det visuelle i oppgavene er
gjennomført gode. Elevene har lyst til å løse utfordringene for å se hva
som skjer videre i fortellingen. Til tross for at spillet er laget for at det skal
være gøy har skaperne også tatt hensyn til det vi lærere ønsker: korrekt
begrepsbruk, umiddelbar tilbakemelding og ikke minst problemløsning.
”
Teacher
Andreas Aanestad
Godvik skule
Tlf.: 988 57 283Join our Quest Email: kristoffer@eduplaytion.no Phone: + 47 951 15 756 Address: Media City Bergen Lars Hilles gate 30 5080 Bergen, Norway
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