Photo - Autobound
39396

Autobound

Sales enablement/intelligence startup

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

Date of last change: 07/18/2019
Min investment
$  25.000
Total required
$ 70.000
Rating
equalizer 225 из 1000
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Idea

Autobound is an integrated sales platform that facilitates efficient engagement between buyers and sellers. We create sophisticated buyer personas for our users, automatically compose individualized and relevant multi-channel sales outreach, and provide best practices and key insights regarding buyer engagement.

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.

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 professoinals in the US, working at businesses where 75% are spending money in sales enablement this year. This gives us a total addressable market of 1.3M users. At $200/user/month, we'd have $485M 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 $1.5B 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. To put this into numbers, inside sales reps cost $80k annually and only 53% hit their target (AKA quota) last year.

Solution (product or service)

We pave "the path to yes" for sales. Autobound's AI 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 competitive edge: We've developed a process that made us global top sales performers at numerous companies. We've used the products offered by our competition, and know what features salespeople need to be successful. We can choose our partners more strategically. On our advisory board are the founders of CSO insights, a leading global sales research firm.

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

Finance

CAC: $3,900 || ACV: $70,000 || LTV: $280,000

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 expanding to enterprise in year 2. We sell licenses on a per-user basis for $200/month/user.

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, $5M 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

Website address

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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