# Birdie Financial Model SaaS platform digitising and coordinating elderly home care delivery for care agencies, carers, families, and clinicians. - Canonical: https://finamodel.com/startups/birdie - Excel download: https://finamodel.com/startup-models/birdie.xlsx - Category: Health-tech - Model type: SaaS ARR / Valuation - Funding round: Series A - Funding: $11.5M - Founded: 2021 - Geography: UK primary (300 agencies nationwide per slide 7 [DECK]); global expansion implied by £100bn global TAM framing [DECK]. - Customer: B2B2C ## About the company Birdie digitises and coordinates elderly home-care delivery for agencies, carers, families, and clinicians. It gives care providers a shared operational view of visits, recipients, and communication across a fragmented service environment. The UK business is sold to home-care agencies, with recurring software likely priced per agency, care recipient, or carer. Family access can strengthen product adoption without being a separate paid product. The model should forecast agency customers, care recipients or carers per agency, recurring ARPU, expansion, and churn. Implementation, customer support, and sales costs should be tied to agency cohorts, with pricing sensitivity between agency and per-recipient plans. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition - Mobile-first care-management app for carers (task lists, medication tracking, observations logging) with a desktop dashboard for agency back-office (scheduling, compliance, clinical charts) and a family portal. - Replaces paper-based operations (deck states 70% of home care ops still on paper). - Positions as "person-centred, preventative care platform" - monitors ADL trends to catch deterioration (falls, infection, missed medication) before crises occur. - Integrates: Local Authority, care agencies, GPs, community nurses, hospitals, pharmacy, families - currently fragmented. ## Market - TAM: Global home care providers market = £100bn. - SAM: UK addressable market = £1bn. Framing is "home care providers market" - i.e. SaaS wallet of agencies, not total care spend. - Market growth rate: Not explicitly stated, but slide 2 notes 65+ population will double over next 20 years, reaching 2bn globally, and elderly care already consumes 60% of healthcare costs. ## Revenue model - Revenue model: Not explicitly stated in deck. - Implied B2B SaaS: sold to home care agencies; per-agency or per-care-recipient subscription is the standard model for this category. - Distribution channel: Direct sales to UK home care agencies (SME operators). - Family portal: Likely freemium or bundled into agency license; no separate pricing shown. ## Traction & metrics - 15,000 older adults supported weekly by Birdie-equipped carers - 300 client home care agencies across the UK - 3,000 families using Birdie weekly - Monthly visits completed on Birdie: chart shows ~900,000/month as of Dec '20 (right-hand axis reads ~900,000 at peak) - Number of active care recipients: ~15,000 as of Dec '20 (left-hand axis) - Growth rate: x5 growth annotated on the chart (Jan '20 to Dec '20 period) - NPS / satisfaction: Employer Net Promoter Score of 61+ (team/culture metric, not customer NPS) ## Competition / moat - Moat signals (implied): proprietary care data (ADL observations, medication compliance, fluid intake) creating a longitudinal health record per care recipient; multi-stakeholder network effect (agency + carer + family + clinician all on one platform); 70% of market still on paper = low switching cost from legacy. ## Team & funding ask / use of funds - Named team members on slide 8: - Malte Gerhold - Chief Integrated Care Officer - Jo Barlow - Clinical PM - Kath Middleton - Clinical AI Product Lead - Gwen le Calvez - CTO - Awards: Top-10 health-tech, Top-10 UK startups, Top-50 EU startups, Best SME culture 2019 - Press quote: "Birdie may well revolutionise elderly care" --- ## Recommended financial model - **Archetype + why:** B2B SaaS ARR model. Revenue is agency-level recurring subscription; the natural driver tree is: number of agencies × average subscription per agency (which may itself be priced per care recipient or per carer seat). A per-care-recipient pricing layer is also plausible given the product tracks individual recipients. Recommend building dual-driver: agencies × average revenue per agency (ARPA), where ARPA is itself a function of avg recipients per agency × price per recipient. - **Forecast horizon & granularity:** 5-year annual (2021–2025) with monthly detail for Year 1–2. Monthly granularity needed because the x5 growth curve (Jan–Dec '20) shows rapid intra-year inflections. - **Key drivers & assumptions:** | Driver | Seed value | | -- | -- | | Active agencies (end of period) | 300 (Dec '20) | | Active care recipients | 15,000 (Dec '20) | | Avg recipients per agency | 50 (15,000 ÷ 300) | | Net new agencies per month | ~25/month implied by growth to 300 | | Annual agency churn rate | 10% | | Monthly subscription per agency | £200–£500/month | | Or: price per care recipient/month | £5–£15/month | | Monthly visits per recipient | ~60/month (900k visits ÷ 15k recipients) | | Gross margin | 70–80% | | S&M % of revenue | 30–40% early, declining | | R&D % of revenue | 25–35% | | G&A % of revenue | 10–15% | | UK TAM penetration (agencies) | ~5,000 agencies assumed in UK (£1bn ÷ avg agency rev) | | Global expansion start | Year 3 | | YoY revenue growth | 150% Y1→Y2, stepping down to 60%/40%/30% | - **Scenarios (Base / Bull / Bear - which variables flex):** - Bull: Agency net adds accelerate (40/month), ARPA at top of range (£500/agency or £15/recipient), churn 5%. - Base: Agency net adds ~25/month, ARPA mid-range (£350/agency), churn 10%. - Bear: Slower agency adoption (10/month), ARPA £200/agency, churn 15%, UK market cap reached early. - **Required sheets / outputs:** 1. Assumptions - all drivers in one place, scenario toggle 2. Agency cohort model - monthly new agencies, churn waterfall, cumulative active agencies 3. Revenue build - agencies × ARPA (or recipients × price/recipient) → MRR → ARR 4. P&L - revenue, gross profit, S&M, R&D, G&A, EBITDA, net income 5. Cash / runway - operating cash burn, implied funding needs 6. KPI dashboard - agencies, recipients, MRR, ARR, implied ARPA, burn multiple 7. Scenario toggle - inputs auto-switch P&L and KPI outputs ## Frequently asked questions ### Is the Birdie financial model free? Yes. The Birdie model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.