Why I Decided to Invest: Jiobit
Jiobit is a location monitoring service focused initially on the children’s market. The team is a stellar group of ex-Motorola and Google engineers with deep expertise in building consumer -facing technology at scale.
Here’s my high-level and detailed rationale for investing in Jiobit:
EXEC SUMMARY (TLDR)
The three main reasons I invested in Jiobit are:
- Signs of a new market
A new generation of parents is emerging. Technology for pregnancy monitoring, baby monitoring, and child rearing have had impressive adoption.
I’m convinced that this new generation of parents accustomed to real-time information will not settle for not knowing where their children are. They’ll expect a notification once their child arrives at school or an alert if their child has wandered from a grandparent’s home. Jiobit’s team demonstrated new ways to solve a major problem in a growing market.
Plus, the children’s market could be the first of many. Several very interesting opportunities exist in other sizeable industries. The needs for an intelligent location monitoring service are similar across several industries.
2. Sophisticated management team
John Renaldi and his founding team not only excel in innovation (with 150 registered patents) they’ve also worked together for years. Their maturity in understanding a market and delivering the right product reduced the execution risk.
3. Product superiority
Jiobit’s services-led product had both superior software and hardware attributes. The hardware uses a variety of radio signaling for the most accurate location information. The battery life lasts 30x longer than similar GPS-based location trackers and is 50% smaller. Also, Jiobit’s machine learning software will provide parents peace of mind that was previously impossible.
Net net, the product’s wow factor sealed the deal.
Jiobit’s got a very bright future. Their launch of pre-orders this month is just the first chapter.
This post is one in my series about a VC’s perspective on investing. It’s part of Graphene Ventures’ commitment to providing transparency about the VC industry for entrepreneurs. These thoughts are my own opinions and not those of Graphene’s.