That Will Never Work #71: Is Pre-Revenue Funding a Pipe Dream?
Oct 18, 2022
In this discussion, Kyle Walgren, founder of the EdSoma app, shares his journey of creating a literacy tool during the pandemic, inspired by his separation from his children. He dives into the app's innovative voice identification technology and the unique challenge of identifying weaknesses in children's reading. Kyle also reveals the struggles of securing funding as a pre-revenue startup, highlighting investor priorities and the need to demonstrate commercial traction. With insights on alternative markets and balancing mission with viability, this conversation is packed with actionable advice.
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Product Born From Personal Need
- Kyle built EdSoma after COVID separated him from his children and exposed his own struggle teaching reading remotely.
- He designed a video platform using voice identification to detect reading weaknesses and deliver tailored content in real time.
Oral Reading Reveals Hidden Gaps
- Reading aloud reveals pronunciation and fluency issues that silent comprehension tests miss.
- Accurate speech recognition is essential, so Kyle stacked multiple speech engines to reach literacy-grade accuracy.
Shaq As Marketing Partner
- Kyle enlisted Shaquille O'Neal as a marketing partner who immediately understood the product.
- Despite the celebrity endorsement, investors still hesitated without revenue in the bank.
