Investment notes: Eggy

By
September 26, 2022
Eggy

Helping families unscramble life admin

Life admin. The office work of life. Billions of people all over the world have to do it every single day. Paying bills, making appointments, storing documents and keeping to-do lists. The experience is unrelenting, overwhelming and fragmented.

Parents feel this pain the most acutely — which is why Eggy is the all-in-one life-management tool for busy families. 

The team’s Startmate mentor squad includes Rain Hsu, Luke Howes, Camilla Goucher and me (Michael Stocks, squad partner).

💜 What we love about the founders

The founders are the magic here. Kirk and Kate both come from high-performance backgrounds where there's a low probability of success (Kirk was a professional athlete, Kate is a PhD-qualified scientist). The fact that Kirk and Kate come from non-traditional tech backgrounds is part of the appeal of Eggy. They deeply understand the problem space because they’ve lived it. 

“As busy parents of 3 young kids, we acutely understand the problem and we know what the solution needs to be: dead easy to use, reliable, secure and only packed with value that makes this crazy, hectic life better. If you check out the engagement we get on our socials and talk to anyone who knows about Eggy, you'll see how our brand hits the mark with our community,” they say. 

Kirk and Kate have a clear vision of what they want to achieve with Eggy. The degree of clarity and conviction is rare in early-stage founders. They are ruthless in what they prioritise and do not waste time or resources going down rabbit holes.  

Eggy founders Kate Morgan and Kirk Reynoldson

🔮 What's the magic?

Overwhelm is real for families — and it’s getting worse. In fact, 83% of parents flagged that the volume of life admin they are required to undertake is negatively impacting their mental health. 

Eggy takes the fragmented, disparate experience of managing life and puts it all in one central place to manage. 

Today the focus is on families, but the team have built out a roadmap that extends to communities, builds in automation (e.g. scheduled bill payments) and integrations (e.g. connecting families with relevant service providers). 

🚀 Why now? 

Kirk and Kate launched the product in February this year and early traction has been encouraging. The team has signed up over 20,000 users. With the launch of Eggy Pro in August, the company has started to grow its paying customer base. 

The focus has solely been on the AU Market (TAM = 4 million families), the next frontier is the US and UK (TAM = 47 million families), and the long-term plan is to go global (TAM = 2 billion families). 

Despite the heavy focus on families in Eggy’s comms and GTM motion, they’ve also observed traction among sports teams, schools and even small business owners. There are plans to explore higher ARPU plans for these groups in H1 2023. 

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Written by
Written by
Michael StocksMichael Stocks
Michael is Head of Strategy and Operations at Linktree and a Startmate Mentor. Prior to life at Linktree, he worked at Google/YouTube in Sydney and New York, and received his MBA from Harvard Business School. He's also an angel investor and advisor for a number of startups in Australia and the US.

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