By: Alex Kaplun
Co-founder & CEO
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Futuring Up

FUTURING UP, with Prof. Dan Ariely, has developed an AI platform that provides virtual consulting solutions to hundreds of millions of people who lose their jobs. Through an innovative model the company is leading a revolution in the Outplacement market.

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Minimum investment: $10,000
Type:Equity   
Stage:Seed +
Category:Software
Investing Units With Benefit - Limited Number
  • Campaign Highlights
  • Pitch
  • Team
  • Financial data
  • The Deal
  • Documents
  • Disclosures
  • Investors 15
  • Updates

Campaign Highlights

FUTURING UP is the first-of-its-kind digital platform that provides users with personal, occupational, and financial assistance in the face of dismissal, retirement or early retirement at a time when the largest generation in history is beginning to leave the workforce.

FUTURING UP mission is to address the growing disparity between the effective retirement age and the increase in global life expectancy, based on the “Life Equilibrium Model" developed by the founders and Professor Dan Ariely, a world-renowned expert in behavioral economics, and a faculty member at Duke University.

FUTURING UP connects users with professional consultants through an online platform to help them plan and build their personal future in an affordable and accessible way: anywhere, anytime.

A Unique Technological Solution to a Worldwide Problem

“How did we get to the current state of affairs, where we take some of our most knowledgeable and valuable members for society, the 45+ community — make it difficult for them to contribute, and at the same time make them stressed and unhappy? We intend to fix this problem!” Professor Dan Ariely

FUTURING UP provides an innovative solution for the growing global problem of disparity between the effective retirement age, which in some professions may be as young as 45, and the constant increase in healthy, active life expectancy. The digital platform addresses people 45 and older who have been fired or retired, and who need to plan their next steps to solidify their personal, occupational and financial wellbeing.

 

Join the Start-Up of a world-renowned experts

FUTURING UP is managed by a team of world-renowned experts, with an impressive record of accomplishments in academia, successful exits, finance, management, and social impact.  

 A core partner and member of the team is Professor Dan Ariely, an international expert in behavioral economics and a faculty member at Duke University. His books quickly became best sellers on the New York Times Best Seller list and have been translated into many languages.

Another key partner and team member is Eilon Tirosh, the successful tech entrepreneur and investor, who established several companies and led them to impressive exits.

A senior member of the Advisory Board is Professor Jonathan Smilansky, an international expert in career development and talent management.

The team includes other experts in the fields of technology, financial management, change management, knowledge management, and human resources.

A Successful Pilot and Paying Customers

Following the launch of a successful pilot, FUTURING UP recently began providing services to a number of paying customers, including large-scale companies who are offering FUTURING UP as part of their employee benefits packages. FUTURING UP’s value has grown in the past year, and the company recently finalized an agreement with Israel’s largest pension fund, Menora Mivtachim, which is promoting the company to its customers.

A Huge Market - Tens of Millions of Potential Customers in the Western World Alone

FUTURING UP offers an innovative and efficient solution for tens of millions of laid-off and retired employees in the OECD each year.

In the United States, more than 30 million employees leave their jobs every year, of which about 44% are 45 and older (Source: Bureau of Labor Statistics, U.S. Department of Labor).The average retirement age in the United States among currently living retirees was 59.88 years old, the median living retiree left work at 62 years old and a whopping 63.1% retired between the ages of 57 and 66 (Source: Federal Reserve Survey of Household Economics and Decision making).

Support from the Israeli Joint Distribution Committee and National Insurance Funds

FUTURING UP is proud to be one of the few companies selected for the first cycle of HAKAVERET’s Accelerator Program, and to receive funding for a pilot program. HAKAVERET is run by JDC-Israel and the National Insurance Funds to encourage private sector development of social Initiatives. FUTURING UP was also selected to present at the prestigious OurCrowd Summit 2019 attended by thousands of investors from Israel and around the world.

 

Pitch

The idea

The Problem

Life expectancy is rising worldwide. At the same time, employees are fired before they reach retirement or encouraged to leave before they've accumulated sufficient savings. To cut costs, businesses are beginning to offer workers 45-67 “early retirement” packages. While the benefits are financially enticing, leaving a career prematurely often disrupts family life and raises questions about recreating a meaningful life and maintaining financial solvency. Many in this age group are not prepared to cope with the complexities they encounter during this transition.

In Israel alone every year, approximately 80,000 employees 45-67 are fired or retired and left with no real ability to organize their lives and find employment in the constantly-evolving marketplace. In the OECD, the number rises to an astounding tens of millions every year! Israel, like other OECD countries, faces a significant social challenge, and governments alone will not be able to solve it. Successfully transitioning these adults into the next stage of their lives requires a new approach, better tools, and innovative thinking.

The Solution

The answer is FUTURING UP: a digital platform that provides counseling, expert assistance, and personalized guidance for adults 45-67 as they transition from their most recent careers into the next chapter of their lives. This simple, intuitive, and accessible platform connects the newly-retired, whether planned or otherwise, to subject matter experts in career counseling, financial management, and emotional wellbeing to prepare for the next stage in life.

The Technology

FUTURING UP has developed a proprietary digital platform that motivates and actively assists user decision-making by way of the following:

1. Digital Platform: Available for both online and mobile users, the platform uses chat, text messaging, voice and audio messaging, and online video capabilities to support users and their consultants with personalized counseling 24/7.

2. An extensive Consultant Network: The company's unique network of consultants includes consultants specializing in occupational counseling, coaching and personal counseling, and financial experts, all provided to the users through their Personal Account Manager.

The Future Consultant provides a comprehensive personal and private consultation who accompanies and prepares as Case Manager the users in terms of occupation, finance, and quality of life.   

This is accomplished through matching algorithm engine for a smart and optimal match between the user profile and the most appropriate Future Consultant.

3. Machine Learning Algorithm: based on the "Life Equilibrium Model" developed by the founders and Professor Dan Ariely Duke University's Professor, propriety Machine Learning Algorithm provides users with actionable recommendations according to their personal, professional, and financial needs to better plan for their future.

 

4. Predictive Analytics: FUTURING UP collects and analyzes outplacement insights throughout the process. User satisfaction and other parameters are captured, monitored and analyzed. This approach provides the customers, the employers who purchase the product for their employees, with unique branding advantages, enables them to strengthen their organizational social responsibility, and increase employee satisfaction.

5. Security & Privacy: The platform provides secure, password-protected access to each user.

 

How it Works (for the User):

  1. Profiling: In the first step, a new user holds an initial discussion with an account manager and fills out forms to define specific needs using an online assessment tool that builds a personal, professional, and financial profile based on the "Life Equilibrium Model".
  2. Matching: Using proprietary matching algorithms, FUTURING UP will find the best consultant tailored specifically for the needs of the user. Once matched, the user will work with the same "Future Consultant" at all times.
  3. Consulting: The user begins interacting with their future consultant anytime, anywhere, taking advantage of FUTURING UP’s extensive professional network.

 

FUTURING UP in the Media

Professor Dan Ariely, Partner: Interview at Israeli TV Channel 10, "Hakol Kalul"

Prof. Dan Ariely, Shoshy Bornstein & Alex Kaplun: Interview at Israeli Economic Newspaper "The Marker"

Alex Kaplun Co-founder & CEO: Lecture at "The 16th Annual Human Resources Conference-The future of HR world"

Alex Kaplun Co-Founder & CEO: Interview at Israeli TV Channel 10, "Over Vashav"

Alex Kaplun Co-founder & CEO: Lecture at Menora Mivtachim Pension Fund Convention

Alex Kaplun Co-­founder & CEO: Meeting Chancellor Merkel & Prime Minister Netanyahu

Team

Alex Kaplun
Co-founder & CEO
Biography
Alex held senior management positions in financial institutions for 20 years, serving as: Senior VP and Director of the Business Division of Clal Insurance Group, Chairman of the Board Clal Holdings of Agencies LTD, VP and Marketing Director of Migdal Insurance Group, and Member of the Board Directors of Clal Pension Fund. Following his early retirement, Alex dedicated four years to the study and research in the field of Financial Gerontology and Retirement in the University of Haifa, and the foundation and development of FUTURING UP. Alex earned a BA in Economics and Accounting, an MBA in Marketing, an MA in Financial Gerontology. Alex is a proud Argentinian, married with 3 children, lives in Mevasseret Zion

  • Founder
Shoshy Bornstein
Co-founder & CPO
Biography
Shoshy is an expert in Human Resources and a leading Organizational Consultant expert in employment and personal and organizational changes with 15 years of management experience in Insurance and Telecom organizations. Shoshy earned a BA in Sociology and Anthropology, an MA with honors in Organizational Development and is a Certified Coach and Mediator. Shoshy has dedicated the last four years to the study of behavioral sciences in the context of employment, retirement and the foundation and development of FUTURING UP. Shoshy is married and mother of two grown sons, lives in Jerusalem.

  • Founder
Professor Dan Ariely
Co-founder & partner
Biography
Dan Ariely is a professor of behavioral economics, a faculty member at Duke University, and was head of a research group at the Massachusetts Institute of Technology‘s Media Lab. His books quickly became a bestseller on the New York Times and were translated into dozens of languages. Prof. Ariely is a partner in the company from its first day and deals with many of the major mistakes we all make in making decisions. When asked if he could correct one mistake, we all make, he replies, "I have no doubt that the biggest mistake I would correct is the inability to think in long term." Using the model developed in FUTUTRING UP the "Life Equilibrium Model", we will try to correct this mistake.

Eilon Tirosh
Investor & Member of the Board of Directors
Biography
Eilon Tirosh is a high-tech entrepreneur and social investor. He founded five companies, invested in many others, and made several exits with great success. After he had a successfully exit in 2000, he entered the world of social activity and, as an entrepreneur in character, he founded "Yuvalim", a human capital fund, in 2003 to help reduce and deepen the gaps in Israeli society. Eilon has been a partner in FUTURING UP almost since its inception and is involved mainly in the technology field and in paving the way for realizing the vision.

  • Director
Professor Jonathan Smilansky
Investor & Member of the Board of Directors
Biography
Professor Jonathan Smilansky is an international expert in career development and talent management and consultant to leading organizations in Israel and around the world. He is the Academic Director of the Center for Career Development at the Faculty of Business Administration at Tel Aviv University and a lecturer in human resources management. He has 25 years of experience in the US and UK as Global Human Resources VP at Universal and Meridian Hotels, Head of Internal Services at Visa International and a partner in the consulting firm "Hay Management Consultants". Prof. Smilansky has published books dealing with career change, as a partner and as a special consultant in FUTURING UP, he is helping to build the necessary tools in the highly changing labor market and assimilating them into the model.

Financial data

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Updates

Currently there are no updates in this pitch

The Deal

Documents

Disclosures

The financing rounds made through the ExitValley platform are in accordance with a model of statutory exemption from publishing a prospectus pursuant to sections 15A(A)(1) and 15A(A)(7) to the Israeli companies law - 1965.
Under our model, the disclosure of detailed information on the company and information about the investment in each round of financing are limited to not more than 35 investors which are not qualified investors and the round of financing in not in the format of an offering arrangement ("רכז הצעה") as defined in the securities law
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