Photo - Autobound
39396

Autobound

Double sales output by auto-composing expert sales messaging

USA, California
Market: Internet and IT
Stage of the project: Prototype or product is ready

Date of last change: 08/01/2019
Min investment
$  25.000
Total required
$ 70.000
Rating
equalizer 285 из 1000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:

Idea

Daniel & Kyle founded Autobound after uncovering a highly successful process that led them to perform in the top 1% of enterprise sales organizations.

Autobound creates sophisticated buyer personas for our users, and automatically composes individualized and relevant multi-channel sales outreach. We double sales output at 1/30th of the cost of a sales rep.

We launched an MVP (with paying customers), have 17 companies waitlisted for our next launch, built a development team of 9, and have raised $100k of capital. We're currently pairing with investors for a pre-seed round.

Current Status

We have a development team of 9 working on our product. We released an MVP earlier this year with two paying customers, for the main purpose of validating our core value propositions and getting user feedback. We have 17 companies waitlisted for V1 launch.

Our product is built off of the core workflows which led Daniel to be the #2 sales rep at Oracle, and Kyle to be the #1 sales manager at Yelp 5 months in a row.

Both founders and all developers are full-time with Autobound.

Market

There are 2.7M B2B inside sales professionals in the US, working at businesses where 75% are spending money in sales enablement this year. This gives us a total addressable market of 2M users. At $1.3k/user/year, we'd have $414M ARR at 15% of the US market. A conservative assumption that the global market is just 3x larger than the US market, we'd have $1.25B ARR at 15% of the market.
Citations in deck.

Problem or Opportunity

B2B sales processes are inefficient and lack buyer insight. Salespeople don't have actionable data resulting in lost revenue and the lowest average quota attainment recorded to date. US companies spend $900B annually on sales, yet only 1/2 of salespeople hit their quota last year.

Solution (product or service)

We pave "the path to yes" for sales. Autobound platform turns data into actionable activities, leads into customers, allowing sales to succeed.

We double the productivity of an inside sales rep at 1/30th of the cost.

Competitors

Apollo.io, Outreach.io, Nova.ai, People.ai.

The CRM application market is quickly growing, and is expected to reach $30B by 2022.

Advantages or differentiators

Our personas also set us apart. They become highly intelligent with more users, creating a crowdsourced "best salesperson".

Sales currently don't have a single tool to automatically produce expert sales outreach to find and engage new customers. They're forced to bounce around 6-8 platforms (Salesforce --> Google Search --> LinkedIn --> Bombora --> Crunchbase --> Outreach.io --> Gmail/Outlook) to achieve the level of sophistication and expertise we do in 1 platform.

Finance

CAC: $5,000 || ACV: $24,000 || LTV: $96,000

Revenue/user projections:

2019:$90,000 ARR, 150 users
2020: $2,230,000 ARR, 900 users
2021: $9,100,000 ARR, 3,500 users
2022: $26,550,000 ARR, 11,000 users

-User: sales development representatives (#1), sales management (#2), sales operations (#3)
-Buyer: sales operations (manager, VP), CRO


Business model

Autobound operates on a Saas model. We're launching to SMBs and targeting midmarket companies where we'll see an explosion in growth in month 6 of being "live" on the market. We're launching into businesses with 2-5 outbound sales reps on the west coast in the B2B technology, financial, and business services spaces.

We're expanding to enterprise in month 12. We sell licenses on a per-user basis for $1.3k/year/user on average.

As we scale to midmarket and enterprise, we increase subscription cost proportionally to the insights provided through the proprietary "Personas" we build for each buyer and seller.

Money will be spent on

-Lead Backend Engineer, VP of Engineering, Sales and Client Success (3 hires)
-Key partnerships
-Current team (CEO, COO, 1 Board Member)

Offer for investor

15% discount SAFE, $6M valuation cap - negotiable.

Team or Management

Risks

Turbulent market, partner risk, market fit risk.

Incubation/Acceleration programs accomplishment

Graduation from Founder Institute. Out of 35 teams, we had the #1 ranked pitch over the course of the program.

Daniel is currently partaking in Founder Lab, an extension of Founder Institute.

Won the competition and other awards

We're just beginning to enter competitions.

Photos

Photo 1 - Autobound
Photo 2 - Autobound
Photo 3 - Autobound

Product Video

Website address

5,00
1
2
3
4
5
1 voice
Log In/register
arrow_back
EN
more_horiz
close
visibility205
star0
Add to favorites
Delete from favorites
share
close
thumb_up0
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address