There are scores of startups looking to sell men medication for the treatment of erectile dysfunction. There are millions of men using these services to seemingly improve their sexual health. Mojo is a sexual wellness platform that helps men overcome their erectile dysfunction by taking a holistic and medication-free approach. Offered as a subscription, the platform offers access to therapists that provide tailored plan of action that includes video courses, exercises, live events, and group sessions to help men overcome the psychological issues that are affecting their performance in the bedroom. Mojo is also used to address sexual anxiety, porn addiction, and other causes of sexual performance issues. The subscription is £50 for a quarterly subscription after a 7-day free trial.
London TechWatch caught up with Mojo Cofounder Angus Barge to learn more about how Mojo seeks to replace the blue pill as the first course of action when it comes to sexual dysfunction for men, the company’s strategic plans, latest round of funding, and much, much more.
Who were your investors and how much did you raise?
We recently raised £3.25m in Seed Funding, bringing the total raised by Mojo to £3.65m. The Seed funding round was co-led by Kindred Capital, one of London’s most active first cheque funds, and Octopus Ventures, one of Europe’s most active healthtech investors.
Tell us about your product or service.
Mojo is a sexual wellbeing app dedicated to promoting a medication-free approach to erectile issues. Acting as a virtual coach, Mojo provides instant and affordable access to DIY exercises and techniques from world-class sexual wellbeing professionals, empowering men to lead happy and healthy sex lives.
What inspired the start of Mojo?
Xander and I came up with the idea for Mojo during a car journey to Oxford. We’d both struggled with erectile issues in our twenties and for some reason chose that moment to open up about it. It was the first time we’d spoken about our experiences to anyone other than Google and we quickly realised something needed to change.
How is it different?
While looking for support for our own erection issues we became aware of the number of online providers promoting a medication first solution. We found that these platforms successfully highlighted the sexual issues affecting young men but failed to address the root cause, leaving many men reliant on ED medication to support their sex lives.
Xander and I founded Mojo in 2019 to help others affected by erectile issues find a long-term solution that didn’t rely on medication. Today Mojo is the world’s first platform that gives individuals the control to resolve intimate issues from the comfort and privacy of their own home.
What market are you targeting and how big is it?
The ED market alone is estimated to be worth £5.5bn. This is driven by the 25% of men who actively seek professional help and medication. Mojo targets the 75% of men who don’t, opening up a £22bn market.
What’s your business model?
Mojo is a quarterly subscription service.
What are your post-COVID office plans?
Every Wednesday and Friday our team has the option to work from home. These remote days are valuable for our productivity and wellbeing. The team can still choose to work from the office if they’d prefer to hide from life admin and their dirty laundry!
What was the funding process like?
Ferocious. On Valentine’s Day this year we were the front cover of the Sunday Times and the very next day every VC in Europe started calling. We did not end up running our funding process until May but within five days of starting it, we had our first term sheet and two weeks later our first choice VC partners – Kindred Capital and Octopus Ventures.
Ferocious. On Valentine’s Day this year we were the front cover of the Sunday Times and the very next day every VC in Europe started calling. We did not end up running our funding process until May but within five days of starting it, we had our first term sheet and two weeks later our first choice VC partners – Kindred Capital and Octopus Ventures.
What are the biggest challenges that you faced while raising capital?
Communicating our offering. We are taking an approach that no one has tried before and we are looking at the men’s sexual wellbeing space very differently from the incumbent brands. Not all investors saw the opportunity right away. But then the numbers and our member feedback started to talk for themselves.
What factors about your business led your investors to write the check?
Our investors are as passionate about this space as we are, and like us, they believe so far the approach taken by others to tackle men’s sexual wellbeing has been short-sighted or not focused on the core problem. There is a huge opportunity for growth and innovation within this sector and we’re proud to be leading the charge and redefining the sector with their support.
What are the milestones you plan to achieve in the next six months?
Over the next six months, we will continue to work with our users to build a product that not only helps them with erections but improves their overall sexual intelligence. We will also build out our mobile app to create a more initiative sexpert in your pocket.
What advice can you offer companies in London that do not have a fresh injection of capital in the bank?
Knowing the pain point you are trying to solve inside out is critical. Get as close to your users as possible and start learning from them. There are plenty of ways beyond revenue to prove traction.
Where do you see the company going now over the near term?
Mojo is growing rapidly in terms of team and users. Our focus over the coming months will be to make sure that we work together as a team to build a product that meets our users’ needs.
What’s your favourite outdoor activity in London?
I live in central London and love running. The routes that you can take, only a short way from your house, take you past some of the most iconic landmarks in the world. That feels pretty special.
