Reflective

The World's First Intelligent Journal. Reflectly is a journal utilizing artificial intelligence to help you structure and reflect upon your daily thoughts and problems. Your personal mental health companion

Journaling Consumer Mental Health Mobile

Timeline

Founded

08/17

Seed

$500k

09/18

Memo

clement

02/19

Series A

Series B

Series C

clement

Feb 10, 2019

Need

πŸ‘ Mental health issues are increasingly discussed in the media, by celebrities, by athletes, on social media etc...increasing the awareness of the population. The need for such products will likely πŸ“ˆ.

πŸ‘ Market education is also conducted on the β€œtech” side by other companies (Calm, Headspace...).

Market

πŸ‘ Growing market not (yet) locked by big players. However some startups in this space, with a different positioning, have raised a lot of πŸ’΅ (Headspace raised $75M, Calm $88M at a πŸ¦„ valuation ).

Product

πŸ‘ The app is really, really well designed. It’s clean and it actually motivated me to write (I tried it for a couple of days).

πŸ‘Ž No obvious product defensibility to me (data, network effect etc.).Great UI/UX seems to be the most important factor for users, which can be copied by competitors.

πŸ€” How important is good content here? On meditation apps it's crucial and participates to the product value. Since it’s a journal app, the user must write the content, which is a difficult habit to create and maintain. Which also raises the question of user churn. Wondering how high it is.

Business model

πŸ‘ Journaling products are using the whole spectrum of app monetisation: from paid app, to monthly subscription and in-app purchases, there’s no shortage of options.

πŸ‘Ž That being said, prices are on the lower end (average of 3-4$ monthly for a subscription), and combined with a potentially non-negligeable user churn, it can be tough to scale revenue.

Competition

πŸ€” What happens if well funded companies like Headspace or Calm launch their own journal feature? They already have created "habits" with their customers, they could bundle journaling to it.

Acquisition

πŸ€” clearly such product needs some form of virality / word of mouth (ex on Headspace you can invite buddies to help you maintain a streak). Not clear how this aspect can be translated to journaling which is a more β€œprivate” activity. A high rank on mobile app stores seems πŸ”‘ ATM.

Conclusion

I have no doubt that these apps can be great businesses when they manage to reach the community of people who are really into writing a diary. There’s probably a niche of very engaged people for that and, IMO, it makes a ton of sense for a bootstrapped approach. But can journal apps scale? I admit that I have some doubts around the scale they can reach compared to meditation apps (# of users and revenue).