Athyna is raising funds on Wefunder with a valuation cap of $20 million through a SAFE (Simple Agreement for Future Equity) with no discount. The company has grown significantly, increasing its annual recurring revenue (ARR) from $50k to $6 million over four years. This impressive growth trajectory and a revenue multiple of 3.64x positions Athyna as a promising investment opportunity within the global talent acquisition and staffing technology market.

With $2.81 million raised in prior funding rounds and backing from venture capital investors such as Aerolab Ventures and Cardinia Ventures, Athyna has established a solid foundation for continued expansion. The company’s notable investor, Hoopla, adds credibility to its growth potential.

For investors seeking a 10X return, Athyna would need to achieve a future exit valuation of at least $200 million (not accounting for dilution). This would require the company to continue its rapid growth, expand its user base, and further penetrate the global market. Considering Athyna's current growth rate and market potential, such a return, while ambitious, is plausible over the long term.

Athyna operates within the expansive global talent acquisition and staffing technology market, estimated to be worth $157.2 billion. This market is projected to grow at a CAGR of 5.7%, driven by several key factors, including the ongoing rise in remote work, strategic benefits for companies adopting remote work, and the increasing reliance on outsourced talent.

Remote work has steadily increased globally since 2015, with a significant surge following the COVID-19 pandemic. By 2022, 27% of workers will be remote, and this trend is expected to continue. Companies are increasingly adopting remote work strategies to access a broader talent pool, with 41% of companies citing this as their primary reason in 2023. Additionally, the outsourced talent market remains robust, with 71% of hiring managers planning to maintain or increase their use of freelancers over the next six months.

Within this context, Athyna offers a comprehensive global employment platform designed to simplify the hiring, management, and retention of global talent. The platform provides a one-stop solution for hiring talent, managing payroll, benefits, taxes, and ensuring the sustainability of global teams. This seamless integration allows companies to onboard and manage contractors, hire full-time employees, and oversee employee performance efficiently. Athyna's platform is particularly well-suited to meet the needs of businesses looking to expand their global teams rapidly and without the bureaucratic hurdles of establishing local entities.

The increasing popularity of remote work and the strategic benefits it offers to companies, combined with the growing demand for outsourced talent, present a significant market potential for Athyna. With a strong business model characterized by recurring revenue and a focus on high growth, Athyna is well-positioned to capitalize on the expanding global talent acquisition and staffing technology market.

Athyna is led by CEO Bill Kerr, who transitioned from COO to CEO after the departure of the original co-founder. Kerr is a seasoned entrepreneur with six years of relevant industry experience. He is a founder, mentor, and investor with notable affiliations, including Startmate and Blackbird VC. Kerr is a strong advocate for remote work and has previously built two successful companies with a remote workforce, which aligns well with Athyna's mission to streamline global employment.

The leadership team at Athyna is composed of experienced professionals with diverse backgrounds:

Santiago Nisnik, Head of Product, is a Systems Engineer with an MBA and several years of experience building digital products. He previously served as Head of Engineering at Workana and is a remote workforce advocate.

Simone Kier, Head of Growth, is an engineer and marketeer with an MBA. She has extensive experience in growth analytics at startups and global marketing enterprises, and she is passionate about building global winning teams.

Leandro Cartelli, Head of Talent, is an expert in talent acquisition with years of experience leading regional and global teams across multiple industries, including consulting, tech, pharma, and staffing.

Argentino Molinuevo, Head of Sales, joined Athyna as the first Business Development Manager (BDM) and played a crucial role in building the sales department from the ground up. He is a remote work enthusiast and a stage performer by night.

Sofia Etchebarne, Sales Manager, has years of experience in the licensing industry, having worked with Universal Studios, Discovery, Hasbro, NatGeo, and Netflix. She also gained valuable experience at Rappi, where she learned about working in a fast-paced startup environment.

The team at Athyna has grown significantly, now comprising 68 members. This high-growth trajectory is supported by the company's profitable operations and impressive revenue growth from $50,000 ARR to $6 million in just four years. The team's collective expertise in remote work, talent acquisition, product development, and growth analytics positions Athyna well to continue its expansion in the global talent acquisition and staffing technology market.

Athyna has differentiated itself in the highly competitive global talent acquisition and staffing technology market by creating a comprehensive platform that simplifies the hiring, management, and retention of global talent. Unlike traditional platforms that may focus solely on job postings or freelance work, Athyna offers an all-in-one solution that includes talent recruitment, payroll, benefits, taxes, and the sustainability of global teams. This holistic approach allows companies to streamline their global employment processes and reduce the complexities associated with hiring across multiple countries.

One of Athyna's key differentiators is its integration with OpenAI's LLM, which positions the company at the forefront of leveraging advanced AI for recruitment. This technology can enhance the efficiency and accuracy of matching candidates with job openings, providing a competitive edge over traditional recruitment platforms like Indeed, LinkedIn, and Upwork. Additionally, Athyna's platform supports the onboarding and management of contractors and full-time employees, offering flexibility crucial for modern businesses.

Despite operating in an extremely competitive landscape with direct competitors like Fetcher, Humanly, HiredScore, and Recruitee, Athyna's low price, fast speed, and comprehensive service offering make it a compelling choice for businesses looking to build and manage global teams efficiently. The company's focus on reducing bureaucracy and eliminating the need for local entities simplifies the expansion process for businesses, enabling them to grow their global teams in minutes rather than months.

Since its last round of funding, Athyna has demonstrated impressive performance metrics. The company has experienced remarkable revenue growth, expanding from an annual recurring revenue (ARR) of $50,000 to $6 million in just four years. This growth trajectory underscores Athyna's ability to scale its operations and effectively capture market demand.

The company's 2023 revenue stands at $5.5 million, reflecting a robust growth rate of 76.83% from 2022. This growth indicates strong market acceptance and the effectiveness of Athyna's global employment platform. The platform, which facilitates hiring, managing, and retaining global talent, has been well-received, as evidenced by the high growth in users, customers, and clients since the last funding round.

Financially, Athyna has about five months' runway—excluding the money raised in this round—with $241,879 on hand. The company's monthly burn rate is approximately $49,984, suggesting a prudent approach to cash management while continuing to invest in growth areas. With $2.81 million raised in prior funding rounds, Athyna has effectively leveraged its capital to drive product development and market expansion.

In terms of traction, Athyna has built a global talent pool exceeding 150,000 individuals, growing at a rate of over 22% month-over-month. This expanding talent pool enhances the platform's value proposition, offering clients a diverse and extensive selection of potential hires. Customers such as Delmain, Hardline Creative, and Hive Group NYC further validate the platform's effectiveness and market relevance.

Athyna operates in an extremely competitive global talent acquisition and staffing technology market. However, the company's unique value proposition, which includes seamless onboarding, payroll management, and performance tracking across 150+ countries, positions it favorably against competitors. Additionally, integrating OpenAI's LLM into its recruitment processes highlights Athyna's commitment to leveraging advanced technologies to enhance its service offerings.

Overall, Athyna's performance reflects a high-growth trajectory, supported by significant revenue increases, a growing user base, and strategic product advancements. The company's ability to maintain a strong cash position while managing operational expenses prudently further strengthens its outlook as it continues to expand its market presence and enhance its platform capabilities.

Investing in Athyna involves certain risks that potential investors should carefully consider. Firstly, a significant defensibility risk is associated with the company's reliance on GPT's language models. Competitors can easily leverage the same technology, which may undermine Athyna's competitive advantage. Additionally, any changes or price increases by OpenAI could adversely affect Athyna's operating costs and overall business model, given its dependency on this third-party technology.

The competitive landscape for Athyna is extremely competitive, with major indirect competitors such as Indeed, LinkedIn, and Upwork as well as direct competitors like Fetcher, Humanly, HiredScore, and Recruitee. This intense competition could limit Athyna's market share and pressure pricing and margins. Moreover, the market has low barriers to entry, which means new competitors could easily enter and disrupt the market.

Financially, Athyna has substantial short-term and long-term debt, totaling over $1.69 million. This financial burden could constrain the company's ability to invest in growth initiatives and weather economic downturns. Despite having grown its annual recurring revenue significantly, the company is still not profitable, with a net income of -$187,365 in the most recent fiscal year.

Another notable risk is that the founder of Athyna is not dedicated full-time to the company and started another venture in 2023. This raises concerns about the level of commitment and focus on driving the company's growth and addressing operational challenges. A high-growth startup's success often hinges on its founding team's full-time dedication.

Lastly, while Athyna operates in a high-growth market with high market acceptance, the company must continuously innovate and improve its platform to maintain its competitive edge. Rapid technological advancement and evolving customer needs require ongoing investment in product development, which may be capital-intensive.

Athyna's platform allows businesses to hire, manage, and retain global talent seamlessly: it addresses a critical need for simplifying and optimizing international employment processes. The company's comprehensive suite of services positions it as a one-stop solution for global teams and takes advantage of the quick rise of remote work.

The company has demonstrated remarkable revenue growth, increasing from $50,000 ARR to $6 million in four years. Athyna's annual revenue growth rate of 76.83% between 2022 and 2023 indicates the platform's product-market fit and scalability. A solid user base bolsters This robust growth trajectory, reinforcing the platform's credibility and reach. The company impressively integrated ChatGPT's APIs to improve its product and allow its clients to recruit their employees and contractors in a few days.

With a valuation cap of $20 million, Athyna offers a compelling investment opportunity, especially considering its low revenue multiple of 3.64x. The company's ability to sustain and enhance its product offerings has attracted VC backing from Aerolab Ventures and Cardinia Ventures.

Athyna operates in an extremely competitive market with established players such as Indeed, LinkedIn, and Upwork, as well as direct competitors using AI like Fetcher, Humanly, HiredScore, and Recruitee. Many of these players have multiple years of market presence, extensive user bases, and substantial resources, and this could make it difficult for Athyna to capture and maintain market share.

Financially, while Athyna has demonstrated high growth, it remains pre-profit with a net income of -$187,365 as of the most recent fiscal year. The company's monthly burn rate of $49,984.25 against cash on hand of $241,879 highlights potential cash flow issues if additional funding is not secured promptly. 

Moreover, the barriers to entry in the talent acquisition and staffing technology market are low, which heightens the risk of new entrants further saturating the market. Competitors can easily emerge, potentially eroding Athyna’s market position and growth potential. 

Athyna is a rapidly growing global employment platform designed to streamline the hiring, management, and retention of talent across 150+ countries. The company has seen remarkable growth, from $50,000 in Annual Recurring Revenue (ARR) to $6 million in just four years. Athyna's platform offers a comprehensive suite of services, including talent acquisition, payroll, benefits, taxes, and performance management, making it a one-stop shop for global employment needs.

The company operates in a highly competitive landscape with direct competitors such as Fetcher, Humanly, HiredScore, and Recruitee and indirect competitors like Indeed, LinkedIn, and Upwork. Despite this, Athyna has managed to carve out a significant market presence, boasting a talent pool of over 150,000 individuals and a monthly growth rate of over 22%. Its notable customers include Delmain, Hardline Creative, and Hive Group NYC.

The global shift towards remote work has been a significant market driver for Athyna, with remote work adoption rates increasing and companies seeking to expand their talent pools. The remote workplace services market is projected to grow at a 23.8% CAGR, reaching $58.5 billion by 2027, providing a substantial opportunity for Athyna to capture market share.

The company has already raised $2.8 million in prior funding rounds and is backed by venture capital firms such as Aerolab Ventures and Cardinia Ventures.

While Athyna's financials show a net loss of $187,365 in the most recent fiscal year, the company's impressive revenue growth rate of 76.83% and its profitable business model underscore its potential for long-term success. However, investors should be mindful of the extremely competitive landscape and the low barriers to entry in this sector.

Overall, Athyna presents a compelling investment opportunity, leveraging its innovative platform and strong market demand for remote work solutions to drive future growth.