KoalaSafe: Innovative technology for healthier digital habits

The purpose: creating a safer digital environment for kids

KoalaSafe understands that, even though technology is meant to make life easier, parents struggle with keeping their children safe while they’re online. On top of that, app developers are creating products that are designed to keep kids coming back for more. 

Beyond offering a convenient solution to parents who want to encourage their kids to be more active offline, KoalaSafe is also giving adults more control when it comes to restricting how their kids can use the internet.

Think of it this way: just like a seatbelt in a car can keep a child secure, KoalaSafe can help keep children safe while they’re online playing games, using apps, or browsing websites.

“My view from the beginning has been that you need a healthy balance between screen time and ‘off time’. Science suggests the brain is not fully matured until our mid-20s, and that children and teenagers are more impulsive and don’t have the same level of self-control as adults.”

But, even though KoalaSafe is a godsend for parents, kids don’t feel the same way.

“Parents love it, children hate it. We get hate mail from kids. We see what happens when boundaries aren’t set and parents are pulling their hair out looking for a solution. So we really suggest that people come to us a little bit earlier so it’s just part of internet usage, like wearing a seatbelt when you get in the car.”

From brainstorm to business

KoalaSafe has created a product that can help families achieve healthier digital habits. And they’ve been able to scale globally in just a few years.  

It all started when Steve’s sister asked him for an “off” button for their internet so that her kids would stop spending so much time playing games online. Unfortunately, there was no such thing as an off switch, so Steve went ahead and built a prototype…and it worked! 

“Like all great ideas, it was something really simple that should have been done before, really. At first, I didn’t believe that there wasn’t a product like this on the market, so I did my own research and realised that there were a lot of companies and products tackling individual devices, but there was nothing that controlled all of the devices in a home, which has started to become really important. The average household in Australia has seven or eight internet enabled devices, and that number is only growing.”

Getting the all-Important financial support for a new venture…with a little risk

Pinpointing a problem and coming up with a solution that works is one thing. But to succeed in business, there’s no denying that you need some funds and support. Once they had a demonstration model of their product and they knew that it worked, Steve and Adam got themselves into a startup accelerator called Startmate. 

“The network of mentors that Startmate provided was instrumental in our startup journey. We wouldn’t be where we are today without the doors that they opened and the advice they provided. Being able to connect with successful entrepreneurs who have been there and done it before us was just amazing.” 

They also set up a crowdfunding campaign on Kickstarter. Doing so helped them generate buzz about KoalaSafe, getting consumers excited about the product and the benefits that it could provide. By the time their campaign was over, they had raised a whopping $100,000! 

“Amazon was also quite pivotal in those early days when we were trying to get discovered. The number of eyes on Amazon provides great discoverability for products, so we basically doubled our sales overnight just by going on Amazon.”

Although these steps might seem pretty straightforward, their journey didn’t come without risk; Adam and Steve both quit their jobs in order to pursue this dream full-time and worked on KoalaSafe for year before they were able to pay themselves a salary. 

“It requires a lot of belief in the product and yourself. Steve and I are both from a technical background in finance, so we were confident we'd find another job, but you are definitely taking a financial risk by not having a job for 12 months.”

Managing international transactions with support from OFX

Getting your product into multiple markets around the world is an admirable achievement. But, with that, comes the challenge of handling various international currencies. For KoalaSafe, OFX has been helpful when bringing their profits home to Australia.

“We are an Australian company with a U.S. subsidiary, so those USD also have to come back to Australia, and that’s what we use OFX for.“

“Also, when we raised the funds on Kickstarter it had to be in Australian dollars (AUD), and we needed to exchange a portion into USD. It was during a time when currencies were quite volatile, so we set up a Forward Exchange Contract with OFX to lock in a rate. It was mainly to sleep better at night.”

Adam's advice to ambitious entrepreneurs

In the future, KoalaSafe hopes to be included with every device that uses the internet. That way, anyone could quickly and easily enable it and get started. Would be super convenient, right?

In the meantime, we’re in awe of how far KoalaSafe has come in just three years. When we asked Adam to share some advice for other business owners, it boiled down to:

“Aim for success, not perfection: knowing what success looks like and going for that, rather than wanting everything to be perfect. Being results-oriented is my best piece of advice.”

We couldn’t agree more!