Earlier in the week, we caught up with Sara Green Brodersen, Founder & CEO of deemly, a social verification tool purpose built for sharing economy businesses. Deemly were recent graduates from Startupbootcamp’s 3-month accelerator programme and have received an undisclosed amount of seed funding.
In our Q&A, we explore the company’s recent partnership with Airbnb, the future of the P2P economy and learn Sara’s favourite startup from the latest bootcamp.
Hi Sara, tell us a bit about yourself and what it is exactly Deemly does?
Deemly is a social verification tool allowing users to leverage their profiles across different platforms. It helps sharing economy businesses build trust for their community, which then translates to increased activity. We launched the company off the back of my thesis research on the sharing economy. The work we do has become very topical with the recent launch of GDPR, which is centred on data portability.
Where did the initial idea come from? Why is it so needed in today’s insurance industry?
We’re not an insurance application as such, but we do believe there are synergies between building trust for users in the sharing economy both by means of insurance, but also with the verification technology we provide.
What would you say is your company ethos?
Trust and transparency are key topics when we’re building our product and talking to customers and employees. We’re not perfect, but it’s something we strive towards.
Which of your fellow SUBC cohort most inspired you during the accelerator programme?
ForestCar obviously has a special place in my heart as they’re sharing economy focused. I made a special connection with the vHealth Lab team – we shared a desk throughout the programme and I love what they’re trying to solve. Cystellar are also great. Every time Peter talks about his business, I’m fascinated by his knowledge.
What advice would you give to new startups looking to disrupt the insurance industry?
Networking is key. And, also, having a good grasp of the insurer’s pain points and working the product around that.
Why do you feel the P2P economy is so important? What do you think the future of P2P looks like?
With the current growth rate of the P2P economy – it’s grown 60% over the last 18 months in the UK – this is the future. I believe that, once we get over the teething trouble, it has the opportunity to improve our economy, our environment and our culture.
How has your partnership with Airbnb helped you grow? Do you have any future partnership plans following the Demo Day?
Airbnb have been great throughout our journey, and so has many of our other partners. We do have a lot of excitement in the pipeline, but you’ll have to stay tuned for more.
You announced the opening of your seed round at Demo Day – what can you tell us so far?
We’re in process of meeting a lot of investors, so if anyone’s interested they can reach out to me directly.