Company name: VerifiR, Inc.
Founder(s): Jurgen Schmerler
Headquarters: San Diego, California
1. What is your elevator pitch?
VerifiR revolutionizes sports equipment and apparel authenticating and consumer/fan engagement.
The VerifiR platform uses cloud analytics and existing NFC technology on consumers’ mobile phones without the need to install an app. Fast and dynamic authentication results make consumers feel safe in their purchase. The mobile interaction empowers sports brand manufacturers to engage their customers directly and get to know them, in most cases for the first time.
Aside from product authentication and consumer engagement, VerifiR is also used during production and distribution to improve efficiency and prevent product diversion.
2. Problem & Solution
VerifiR is the first provider of an unbreakable, app-free mobile authentication platform for branded sports products. While the global counterfeiting market presents a $500 billion problem, $6.2 billion in Golfing alone, the need to address their customers directly is equally or even more urgent for sports brand manufacturers.
Formed in 2015, VerifiR offers the most advanced authentication platform through its patent-pending utilization of mobile Near Field Communication (NFC), cloud-based data analytics, and blockchain technologies.
By integration of stamp-sized NFC modules with branded sports equipment and apparel, VerifiR allows manufacturers to capture consumer data and consumer engagement, alert of product diversion to unauthorized sales channels, improve production processes, and of course prevent counterfeiters from diluting brands and stealing market share.
3. Market – your target market and the overall market
The rapidly growing space of branded products at risk of counterfeiting currently represents an addressable market for VerifiR of over $23 billion.
VerifiR is especially active in Sports and Active Lifestyle (SAL) equipment and apparel, and is planning to launch its sales in many additional markets soon.
Brand manufacturers are adopting VerifiR to open new communication channels with brand-conscious, highly profitable customers. The ease of use to connect with brands online is especially pronounced with millennials.
The number of potential goods VerifiR could be attached to approaches 650 million items in Sports Equipment and Golfing alone.
4. Business Model – how do you make money?
B2B – SaaS
VerifiR is offered on a subscription basis to brand manufacturers for access to counterfeit and diversion alerts, consumer engagement and social media marketing tools, reporting tools and VerifiR NFC modules.
Additionally, brand manufacturers may choose from an array of VerifiR services, like access to the VerifiR IP protection ecosystem, customized NFC product integration, customer communication options, such as 1-click warranty registration or customer questionnaires, production and warehouse management applications, or backend systems integration.
5. Management Team – with titles
Jurgen Schmerler, CEO is a serial entrepreneur, including the founder of the Deep Sky Group, which managed and verified the IT assets of most top pharmaceutical companies. He has over 15 years experience in developing and deploying track and trace technologies as the head of large teams in pharma IT.
Ulf Poelke, CTO, has over 20 years of experience in building and selling large-scale software technology solutions. Ulf headed teams building web and mobile solutions at Opera Software, Starscriber, and BlueHornet. He also served as VP of business development and sales engineering
Marc Van Buskirk, EVP Sales, is the founder of GovX marketplace and sales director at multiple SAL brands
Jim Lambright, Advisor Government Affairs, is the former presidentially-nominated Chairman and CEO of the U.S. Export-Import Bank and head of the $700 billion Troubled Assets Relief Program (TARP),
Bob Rief, Advisor SAL, is former senior executive at multiple SAL brands, including NIKE and Callaway.
6. What else do you want the audience to know about your venture?
VerifiR enables the consumer to authenticate any purchase with their existing mobile device and presents clear, immediate feedback of its authenticity. Key advantages of VerifiR are its dynamic nature (increasingly sophisticated counterfeiting techniques can be addressed even after products left the manufacturer), use of analytics to pinpoint counterfeited products, tamper resistant attachment to any product, seamless integration with the manufacturer’s existing operations without the need for additional infrastructure, simplicity of use by the customer, and customer authentication for direct communication.
SportTechie Recommendation: If you’re an investor, startup founder or influencer, we recommend you check out Stadia Ventures and ProInfluence.