Consumer Products Company

WAVE Systems

31%

Funding Goal $1,500,000
Funding Raised So Far $260,000
Funding Commitments $200,000
Funding Remaining $1,040,000
Funding Type Convertible Debt
Pre-Money Valuation
Investor Ownership
Interest / Dividend
Previous Funding

Company Overview


WAVE has developed a low-cost, elegant solution to the silent epidemic of accidental drowning. WAVE systems are now deployed at aquatic facilities and homes across the country, protecting the lives of thousands of swimmers every day.

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Business Summary


Company Age 5 years, 8 months
Employees 9
Sub-Industry Sporting Goods
Prior Year Revenue
Current Year Revenue
Next Year Revenue

Products/Services


w10 - Consumer System

The WAVE w10 is a complete portable drowning detection system that enables families to monitor the safety of up to 10 swimmers and non-swimmers at pools, lakes and more. The w10 will immediately alert if a swimmer has remained submerged longer than allowed, or if a non-swimmer or pet has entered the water. Learn more at wavedds.com/w10.

w100-w1000 - Commercial System

The WAVE w100 and w1000 are portable drowning detection systems for commercial aquatic facilities. The systems work at pools, lakes and more and can monitor 100s of swimmers simultaneously, alerting lifeguards should a swimmer remain submerged longer than the facility allows. No installation is required, and the systems are simple enough to use every day. Learn more at wavedds.com/explore .

WAVE Overview

Intro to WAVE video - : https://www.youtube.com/watch?v=wsYL7KjnjLY
How WAVE Works video - https://www.youtube.com/watch?v=KxhApu4drEs
w100-w1000 Commercial Systems product page - www..wavedds.com/explore
w10 - Consumer System product page - www..wavedds.com/w10

Management


Mark Caron
Chief Executive Officer
Mark Caron

Mark has a proven track record in successfully identifying new product/service opportunities in dynamic markets, building world-class teams, leading sales, marketing and product strategy, securing strategic partners and lead customers, and executing M&A transactions. He is one of four co-founders that led the Omnipoint spin-off that grew to $500 mil in revenue in under 5 years. Later he founded MobileSpring, raising $11 million, becoming the market leader, and establishing a business that went on to generate $100 mil/year in free cash flow for its subsequent owners. Mark has also have advised over 30 other tech startups.

Mark holds an AB from Dartmouth as well as an MBA in General Management from Harvard.

Dave Cutler
Chief Marketing Officer
Dave Cutler

Dave is an award-winning Connecticut-based inventor, entrepreneur, designer & illustrator. His invention, iSwimband®, won best new product at the 2014 Int’l Pool Spa Patio Expo, the year it was first launched.

Dave has been involved in the use of technology to prevent drowning for over a decade, starting when his daughter's classmate drowned despite several lifeguards and camp counselors watching over swimmers that day. In 2014 Dave received a Community Lifesaver Award from the National Drowning Prevention Alliance.

Dave has overseen all areas of company building including product design & development, manufacturing, marketing, design and branding. He has been interviewed on ABC’s Good Morning America, CBS’ This Morning Show, NPR, Philadelphia’s TODAY Show, and others regarding his products.

Hesham ElHamahmy
Group Leader/Lead Engineering
Hesham ElHamahmy

With an Electrical Engineering background, Hesham has been developing wireless technology products for over 30 years, including at industry leaders Nortel, Lucent and Spirent Communications. At Spirent he led a 50-person Mobile R&D team developing wireless products for Tier I mobile network operators and smartphone manufacturers...

In the past 10 years his focus has been on wireless technology startups - growing development teams, operations and supply chains from inception to multi-million dollar revenue streams.

Steve Vitrano
Director Sales
Steve Vitrano

Steve's experience in technology sales spans several startups and Fortune 100 companies, including Verizon, T-Mobile and Comcast. Steve earned the top sales designation at each organization (Chairman, President, and Elite awards). He joined each organization at a time when they were focused on early adopters for new product lines. Steve brings multiple skill sets including strategic planning, tactical field execution and customer service.

During his tenure at Verizon, he was instrumental in redefining their B2B channel strategy and sales effectiveness, tripling units sold and quadrupling revenue per field sales rep. While at T-Mobile, he led five market-based sales directors and 160+ field representatives while growing revenue from $35M to over $100M.

Investors/Lenders


Venture Capital Fund
Connecticut Innovations

Guiding Good Ideas from the Mind to the Marketplace:
Connecticut Innovations provides strategic capital and operational insight to push the frontiers of high-tech industries such as energy, biotechnology, information technology, and photonics.

Over the years, CI has helped over 100 emerging companies research, develop, and market new products and services. This activity has attracted over $1 billion dollars in additional investments from private equity providers. CI has brought the State of Connecticut over $510 million in Gross State Profit and over 5,000 additional job-years.

CI was created by the Connecticut Legislature in 1989. Since 1995, returns from its own prudent investments - not state money - have supported operations and new, forward-thinking funding programs.

Invested Amount
Investment Type
Investment Round
Investment Date
Angel Group
Harvard Business School Angels

The HBS Angels invest in early stage companies across all industry sectors. Ideal candidates are companies seeking $100,000 to $750,000. HBS Angels members invest as individuals, in aggregate up to $350,000 in any particular investment. We invest in capital efficient "for profit" businesses, and expect our portfolio companies to achieve a successful exit within five years. We do not invest in R&D intensive businesses or those with high capital requirements. We strongly encourage business plan submissions from Harvard Alumni, but consider all investments based on potential economic returns.

Invested Amount
Investment Type
Investment Round
Investment Date

31%

Funding Goal $1,500,000
Funding Raised So Far $260,000
Funding Commitments $200,000
Funding Remaining $1,040,000
Funding Type Convertible Debt
Pre-Money Valuation
Investor Ownership
Interest / Dividend
Previous Funding

Documents


Contact


WAVE Systems

Westport, CT 06880, US

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