November 2019
Vol 6 | Issue 264

Q&A with Christopher Sealey of CoverUS

President and Cofounder

Principal Series:

CoverUS helps 150+ million Americans with chronic diseases earn and save money by harnessing the power of their personal data.

Patients securely connect their medical records and other health information to the CoverUS app, and our marketplace uses this data to intelligently match them with paid medical research opportunities and timely discounts on the prescriptions, products, and procedures they need to stay healthy.

For patients, we help remove financial barriers to care that led 54% of Americans to skip a needed medical treatment last year, and for the healthcare industry, we streamline medical research, improve adherence and boost sales — a $1.8 billion market opportunity.

CoverUS — you shouldn’t have to be wealthy to be healthy.

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How big is the market opportunity?

CoverUS currently projects a $1.8 billion yearly market share (SOM), as we endeavor to be the largest and best source of highly qualified patient leads across three primary verticals: market research, clinical trials, and the marketing of health goods and services. By keeping patients financially well, we also tackle the problem of non-adherence to prescriptions, which currently costs the global pharmaceutical industry more than $637 billion per year. Engaging data-connected patients at scale with their consent can unlock massive future revenue opportunities across all facets of a healthcare industry that currently wastes $1 trillion per year in the United States alone. The CoverUS solution is not only a marketplace play, but our privacy standards and technology are a welcome hedge against increasingly stringent data privacy regulations that the healthcare industry is facing.

Why should we believe in your team?

Our team is the right mix of successful entrepreneurs, healthcare and consumer marketing gurus, and engineering leaders. Our advisory board includes the current CEO of Planned Parenthood, the former Chief Technology Officer of the United States Health and Human Services Department, and the former Chief Financial Officer and Chief Information Officer of Covance, one of the largest clinical trials companies in the world. People that would not normally support an early-stage health tech startup are all in on CoverUS.

Why is now the right time to invest in CoverUS?

CoverUS has raised early money from prominent Angel investors, delivered on that investment by developing an app prototype that is currently enjoying an extremely successful pilot with 300+ real patients, earning and saving money in the app. We are poised to demonstrate further product-market fit and acquire pre-identified top talent at below-market prices upon closing its $2.5 million seed round, which has already received a $500,000 commitment from a world renowned computer scientist. Our current $10 million valuation is conservative, and we are looking for skilled capital that wants to help drive a high growth, for-profit business while leaving a profound social legacy by helping to make healthcare more affordable for everyone, everywhere.

Christopher Sealey of CoverUS

Christopher Sealey is the President and Co-Founder of CoverUS, a mobile app that enables people to harness the power of their personal data to earn money and save on medical costs. He is also a founding general partner in Chain Link, a hedge fund of funds in the crypto asset space.

Prior to his work at CoverUS, Christopher ran economic think tanks for global philanthropists including George Soros and Pete Peterson, was the first Creative Director in United States Government, worked to bring health services to HIV-positive homeless New Yorkers, and spent nearly 10 years building Fortune 500 brands in the advertising industry.

In his spare time, Christopher is an internationally recognized event DJ, having performed for three presidents and numerous public figures in more than 20 countries.