Gregory Zeller, Innovateli | June 15, 2016
A mobile scheduling app targeting divorced co-parents just got hitched.
Woodbury-based Moiety Inc., a subsidiary of Aeonic Corp. and creator of The Moiety App, has announced a “strategic investment and development relationship” with KiwiTech, a unique developer/incubator/investment platform based in Washington.
KiwiTech brings a handsome dowry to the marriage, including an undisclosed financial investment and “exclusive technology development capability,” according to Aeonic Corp. founder and CEO Gregory Wagner, who spun Moiety into a separate C-corp. in September 2015, two months after launching the parent company.
The two-year deal makes KiwiTech “the exclusive developer for the app for the foreseeable future,” Wagner told Innovate LI. In exchange for “a significant discount on the development charges,” KiwiTech gets a 6 percent equity stake in Moiety Inc.
The partnership is ideal for Moiety Inc., according to Wagner, who noted KiwiTech – which launched as an app-maker in 2009 and has evolved into an all-purpose enterprise-tech hub with indigenous VC capabilities – is “much more motivated than an average developer to ensure the success of The Moiety App.”
“They have skin in the game,” Wagner said. “They want this to be successful to get the maximum return on their investment.”
KiwiTech CEO Rakesh Gupta, who has joined Moiety Inc. as a “board observer,” said the app – which is designed to simplify complicated family scheduling and budgeting by replacing time-consuming calls and confusing texts with easy swipes and clicks – represents “a unique logistics platform with great market potential.”
“We are pleased to be working with Greg and the Moiety team to create new technology solutions to deploy this platform internationally,” Gupta said in a statement.
While KiwiTech programmers will “accelerate delivery” of The Moiety App, they’re not going to reinvent the app’s digital wheel. The plan now, according to Wagner, is to have a minimum viable product on virtual shelves this summer.
“We’re not starting over,” he said. “A hundred-thousand lines of code have been written already.”
But KiwiTech will play a key role in “getting us in front of customers once we launch,” Wagner added, referencing the D.C. firm’s in-house VC fund, incubator facilities and “network of startups and angels.”
“They can obviously help a startup accelerate and can help with scale,” Wagner noted. “They’re not a regular development company.”
KiwiTech’s expert programmers will also energize Moiety Inc.’s “while label solutions capability,” according to Wagner. In addition to providing scheduling and budgeting assistance to any “crew,” the app – designed primarily for divorced parents – is also being customized to the needs of attorneys, judges and other professionals involved in separation scenarios.
“We want to deliver that minimum viable product as soon as possible,” Wagner said. “And we’re definitely looking to accelerate the white-label solutions for legal professionals and the judicial network.”
Those additional bells and whistles should be live by the end of the year, the CEO added – not a moment too soon for the growing legion of fans The Moiety App has already accumulated through social media marketing. More than 100,000 fans in 44 countries are tracking the app’s progress on Facebook and Twitter; the company even produced a Hollywood-style trailer to stir interest.
Moiety Inc. is now creating social media accounts and webpages specifically for Latin American audiences.
“We are excited to work with KiwiTech in finalizing developing of our international mobile phone application,” Wagner said. “We’re convinced this new relationship will significantly accelerate our initial deployment and open up new avenues for building synergies with our customers and future partners around the world.”