Resources

Our investment in Mojo

27 Sep 2021

By alice

Investment thesis

40% of millennial men suffer from erectile dysfunction, 40% of men suffer from premature ejaculation, and 66% of men are dissatisfied with their sex lives.

Mojo is a sexual wellbeing platform for men which is providing an entirely pill free, digital solution to help men overcome common sexual issues including treat issues such as erectile dysfunction (ED), premature ejaculation, compulsive porn addiction, low libido and performance anxiety.

The platform consists of a subscription offering which provides access to pre-recorded content, live group sessions known as Mojo Connect, and live expert webinars, alongside a network of certified psychosexual therapists for 1-2-1 video coaching.

Approximately $5bn is spent on erectile dysfunction (ED) medication each year, where the total ED market size is estimated to be $20bn given that 75% of men don’t currently seek professional help. Mojo believes that men are more likely to try a digital, pill-free solution, especially for such a sensitive issue.

Mojo’s digital-only platform is truly scalable, unlike prescription medication companies which have local and international regulatory hurdles to overcome. Mojo already has paying customers from 36 different countries at this early stage.

Who are the pioneers?

Xander Gilbert, Co-founder, is a former co-founder of Cuvva (D2C flexible car insurance provider) and previously worked across the financial industry for seven years.

Angus Barge, Co-founder, holds a degree in left a career in broking, is now a trained Counsellor, Counselling and Psychotherapy and and comes from a family of psychosexual therapists. Angus is also a volunteer counsellor at Crisis Text Line.

Xander and Angus are cousins and conceived Mojo when opening up to each other about their own sexual health issues.

James Billingham is their Head of Engineering CTO and was a co-founder of Cuvva alongside Xander, where he operated as the CTO/CPO growing the company from pre-Seed to Series B.

Why us?

Taboo areas within health have been, and continue to be, a key area of interest for the OV Health team where we have seen the likes of Elvie and Big Health unlock significant latent demand from large parts of the population by delivering products and services that users love. Men’s sexual health has been an area of great interest to us for the past 18 months when we first wrote about the subject. Mojo represents the evolution of men’s sexual health beyond pills, to a broader, sustainable and scalable iteration that aims to address the root cause of the problem.