They were super-excited to show us what they had come up with, how it worked, and how they could implement it to help parents create a more safe experience for their kids.
If you’re a teenager who loves cell phone freedom, I have bad news for you: Campus Founders Fund has recently closed their first official deal with Bettrnet, a mobile app allowing parents to track and regulate the mobile behavior of their children. No more late-nights playing games with just you and your phone — Bettrnet offers a multitude of features that help shape children’s mobile habits, including internet curfews, time allowances, and usage reports.
“They brought a demo for us of their own program, had me go to a certain site on my iPhone, and download something,” Campus Founders Fund member Kyle Harrison told Beehive Startups. “Then they showed us how — on their computer — they could track what I was doing.”
The Campus Founders Fund, financially backed by Kickstart Seed Fund but run solely by students from Utah’s major universities, selected Bettrnet from a pool of 40+ entrepreneurs and rewarded their efforts with a $20,000 convertible note.
“We treat everyone the same way, so it’s an equal playing ground — 25 minutes, slide deck — they come to us and we hear the pitch,” Harrison said. “With Bettrnet, the thing that definitely stuck out the most about them was their excitement about their own product. They were super-excited to show us what they had come up with, how it worked, and how they could implement it to help parents create a more safe experience for their kids.”
Investing money should never be a quick, easy decision. Members of the Campus Founders Fund team did their own investigating before closing the deal, making sure there is real value in the future of Bettrnet.
“We voted, we all wanted to know more about them, assigned a team of three — the due diligence team — and then we worked with them once a week, did our own market research, asked them for different documents or projections,” Harrison said. “Really trying to get an idea what they foresaw in their future.”
Bettrnet plans on releasing their software to the public on April 30. For all you parents out there, get ready to effectively track/control your child’s mobile behavior. And for all you kids out there, prepare to get busted.
Published 2/17/2015
