RevRoad Portfolio Partner Momni Secures $1.75M in Funding

Momni Team

In July of 2018, Karmel Larson and the Momni team joined the RevRoad family. It was among the first drops of what will grow to be a tsunami.
Within weeks, Karmel secured coverage on the Dr. Phil Youtube channel. The story about the global childcare crisis caught the attention of more than a million viewers, and soon local press took notice.
Moms from around the country joined as Momnis, apps were published, and a rivulet formed.
On Friday, the Momni team turned those first droplets into a roaring river. She and her team secured a total of more than $2 million in funding to aggressively develop new features and open new markets for caresharing around the world.
The round was led significantly by Tamarak Capital, a Utah family office, and was accompanied by investors from Utah venture service firm RevRoad and angel investors.
“Now the Momni family is getting bigger, bigger and bigger and I”m feeling so grateful today,” Karmel said during the signing celebration. “I am so grateful for all the support I’ve received as Momni has taken off.”

Momni’s Beginnings

Larson was inspired to start Momni after learning about the global childcare crisis in 2017. The company released iPhone and Android apps earlier this year to help moms connect with one another digitally.
Momni’s platform connects moms’ existing network of friends they already know and trust. Most recently, the company was featured on the Dr. Phil Youtube channel.

Family First

Fighting back tears, Karmel expressed thanks to her first supporters — her husband and children.
“Brigham was our first investors and the secret behind the power of Momni,” she said, “And my children have sacrificed so much to have their mother be a part of Momni. Thank you so much for supporting their mother so other mothers can have childcare.”

Funding for Women-led Startups

Before the signing part on Friday, Karmel expressed gratitude to Tamarak for seeing the promise in her company.
“Statistics show that it’s hard for female startup founders to get funding, and I am encouraged by the overwhelming interest we’ve received to help moms worldwide support one another with a cutting-edge and network-based childcare platform,” she said.
“Few things are as socially significant as what Momni is focused on” said Nate McBride, partner at Tamarak Capital. “Momni is making a difference for families worldwide by harnessing technology to both improve the quality and accessibility of childcare in our communities — all while allowing Moms an additional source of income to improve their own lives. We have been so impressed with the Momni team, their product, and the impressive traction they’ve generated so quickly. They are a very talented team, working on a significant challenge, and we are proud to work with them in solving it for good.”
Larson considers Momni’s recent round to be an encouraging step in the right direction for female entrepreneurship, although female founders still encounter difficulty in raising funds.
A study released by the Boston Consulting Group and MassChallenge, a network of startup accelerators, found disparity in the size of deals as well. The average female-founded startup received $935,000 in funding, compared to $2.1 million awarded to the average male-founded startup. That’s despite the fact that female-founded startups performed better, bringing in 78 cents on the dollar in five years compared to 31 cents for men.
For Karmel, the funding is a sign of progress for women in entrepreneurship. But most importantly, it shows the power of what Momni will become.
“We are growing from a drop to a stream, to a river, to an ocean, to a wave, to a tsunami, she said, brimming with joy. “We will conquer the earth with this Momni tsunami.”

About Momni:

Momni is a revolutionary, sharing-economy tech company that seeks to link all moms everywhere for caresharing. Momni offers instant access to trusted care by mothers in your Momni Circle and community. The company works closely with the Momni Foundation to provide caresharing opportunities to women and families in the developing world as a solution to the global childcare crisis.

CES Honors Elios Narrowband Trackers with Innovation Award

Elios Tracker

RevRoad portfolio partner Elios has been on fire in recent months, refining the capabilities of the first narrowband tracker available in the US market.
Late last month, Elios announced that it had been named a CES® 2019 Innovation Awards Honoree. The announcement was made during CES Unveiled New York, which showcased many of the products and trends expected at CES 2019 in January in Las Vegas, Nev.

What are Elios Trackers?

The Elios GPS trackable power bank combines portable power with smart innovation. This device can be placed in pockets, bags, luggage, purses or other valuables. It relies on low-power narrowband technology rather than GPS or Bluetooth alone and can be used for safety, tracking, and power from anywhere in the world.
Elios trackers are focused on personal safety and locating the people, pets and things that matter most. The tracker and companion app feature SOS alerts, geofence, movement alarms, and more. They also offer extended coverage outside traditional mobile phone networks, making them great for “off the grid” use.

Recognized for Innovation

Every year, the CES Innovation Awards recognizes honorees across 28 product categories. Elios trackers were recognized in the Smart Energy category, which focuses on devices that power consumer products. Of 13 featured innovations, Elios offered the only device that combines global trackability with state-of-the-art portable power.
“We are excited to be named a CES 2019 Innovation Awards Honoree,” said Elios CEO Josh Cross. “Our team has worked hard to be innovative and provide products that help improve safety and security.”
Elios’ Global GPS Tracker w/ Narrowband (NB1/LTE/GSM/BLE) will be on display in the Innovation Awards Showcase at CES 2019. The complete list of CES 2019 Innovation Honorees, including product descriptions and photos, can be found at CES.tech/Innovation.
Anyone who wants to catch a glimpse of the new products is encouraged to visit booth 50524 in Eureka Park.

About Elios:

Elios, Inc., is located in the heart of the Silicon Slopes and has years of experience developing bleeding edge power and tracking technology for people on-the-go. Industries benefiting from our products include: law enforcement, travel, outdoor, filmmaking, academia, global exploration, and many more.

Elios Unveils New Name, Expands Global Connectivity Offerings

Elios Charger

FOR IMMEDIATE RELEASE

Provo, Utah — After more than four years of success with on-the-go power products for professional travelers, GoPlug Bags is now part of the Elios family.
The innovative company will focus on products that combine global trackability and portable power for unprecedented safety and security. The proprietary technology lets customers track what matters most, anywhere in the world.
In addition to finding the items and people most important to them, customers can protect themselves when they are lost or in danger. The new lineup of portable chargers will include discreet SOS panic buttons that work in more than 210 regions and countries throughout the world.
“Elios will continue building out GoPlug’s technologies and provide customers with the best travel, personal safety, and consumer electronic markets,” said Steve Dalley, Elios COO.
The rollout of the Elios GPS trackable power bank will be combined with crowdfunding efforts on Kickstarter. New product offerings will include the Cricket, a micro GPS tracker, and the Dragonfly, a GPS tracking power bank. These personal security devices can be used to track children, pets, luggage, electronics and more.

Innovations in Narrowband Tracking

Elios uses narrowband technology, which is new to GPS trackers and represents the latest in IoT (Internet of Things) technology. Narrowband technology uses a much narrower band of frequencies than traditional mobile networks such as GSM or LTE but reaches much further and requires much less power.
“Life shouldn’t be controlled by your batteries, and we solved that,” said Josh Cross, CEO. “But it shouldn’t be restricted by the reach of your Bluetooth either.”

About Elios:

Elios, Inc. is located in the heart of the Silicon Slopes, with years of experience developing bleeding edge power and tracking technology for people on-the-go. Industries benefiting from our products include: law enforcement, travel, outdoor, filmmaking, academia, global exploration, and many more. In addition to helping companies and individuals track what’s most important to them, Elios pledges a portion of its proceeds to helping solve two of the largest issues in the world today: personal safety and access to electricity.