Key Responsibilities & Success Metrics
The below is not an exhaustive list and the ideal candidate would not necessarily need to tick all 4 items. This is our preferable:
1. Strategic Leadership & Governance
- Objective: Steer MAGIC AI towards a successful exit within X years
- Key Results:
- Facilitate the development and approval of a comprehensive 3-year strategic plan within the first 6 months.
2. Board Effectiveness & Oversight
- Objective: Enhance board performance and governance standards.
- Key Results:
- Attendance in monthly (transitioning to quarterly) board meetings.
- Implement a board evaluation.
3. Financial Performance & Capital Strategy
- Objective: Support the executive team in achieving financial and customer usage growth targets.
- Key Results:
- Oversee the attainment of the 100% year-over-year revenue growth (as forecasted in our Financial Model)
- EBITDA profitability by YE 2025.
- Assist in future funding rounds, intros, and process (if necessary)
4. U.S. Market Expansion
- Objective: Leverage industry connections to establish MAGIC AI's presence in the U.S. market.
- Key Results:
- Facilitate partnerships or collaborations with wellness and fitness providers in the respective market or assist with the GTM strategy.
Requirements
- Industry Expertise: Demonstrated success in the connected fitness industry, consumer technology, consumer health & wellness, or AI computer vision applications with direct consumer engagement.
- Track Record: Experience leading companies through IPOs or significant M&A transactions, with a deep understanding of the associated challenges and opportunities.
- US Market Experience: Strong ties to the US market, with experience navigating its unique business landscape and regulatory environment.
- Leadership: Proven ability to lead diverse boards, fostering collaborative decision-making and strategic alignment.
Commitment: Availability to dedicate approximately 1-2 days per month to MAGIC AI, including attendance at scheduled Board meetings.
Benefits
- Impact: An opportunity to shape the future of connected fitness and wellness technology on a global scale.
- Appropriate Remuneration
- Equity Share Option Grant
- Growth: Be part of a dynamic, high-growth company with a clear path to significant market expansion and financial milestones.
- Collaboration: Work alongside a passionate and talented team committed to excellence and innovation.
What We Do
MAGIC uses computer vision, connected weights and 3D cameras to deliver personal training by the world's best athletes at home. MAGIC is the first in the world to allow users to perform exercises in front of an intelligent hologram mirror which uses our own custom computer vision software to correct real-time form, rep count, and give live feedback to give a completely hyper-personalised workout. We have combined this with our patent-pending dumbbells and co-created workout content with the world's leading athletes. Similar to how Masterclass.com has done for the higher arts, we enable anyone to be coached by the world’s best in sport, strength, yoga, boxing, dance etc. Users get 1:1 hyper-personalised tracking and feedback as if being personally trained + corrected by them -- but without having to pay £100s a week in typical personal training fees. We are stocked in Selfridges, were named Techround’s #1 IoT startup 2021 and were recently backed by Virgin Startup. We are venture capital backed by 2 leading multi $billion VC funds who also invested in unicorns: Grover, Scalapay and Onfido as well as the founders/angels from Spotify, Stripe, Facebook, Hopin and Tough Mudder.
