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IntelAgent is a multi award winning 'digital assistant builder' used to automate services and processes.

164%
 - 
Funded 23 Jun 2022
£300,015 target
£497,850 from 656 investors
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Business overview

Location London, United Kingdom
Social media
Website www.wbb.ai/
Sectors SaaS/PaaS Digital B2B
Company number 10899737
Incorporation date 4 Aug 2017
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Investment summary

Type Equity
Valuation (pre-money) £7.5M
Equity offered 6.18%
Tax relief

EIS

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Business highlights

  • Voted best Public Sector Automation firm 2021
  • Voted World's top 5 utility digital assistant platform 2021
  • Major Financial Services, Utility, Government & Transport clients
  • Year on Year Annual Recurring Revenue (ARR) growth *
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Key features

  • Secondary Market
  • Seedrs nominee min. £18.13 +

Idea

Introduction

Our multi award winning no code IntelAgent platform makes it easy for organisations of any size to rapidly build and launch AI powered digital assistants, in any language.

All organisations waste time/money on inefficient processes that could be automated. Inefficiencies take time away from serving customers, which costs UK businesses £37bn a year.

Our mission is to eradicate inefficient processes by placing AI powered digital assistants in the hands of all businesses.

We're deployed across the government, utilities, education, transport, financial, third and leisure sectors, and we believe that we have the potential to automate up to 60% of front and back office tasks.

We were recently voted 'Best public sector automation firm 2021' AND a 'Top 5 global utility chatbot platform 2021'.

Having recently hired an ex IBM'er as our Director of Product, and enlisted the SaaS growth services of an ex member of WeWork London’s founding management team, we believe that we're in a very strong position to scale globally.

Substantial accomplishments to date

We have won quite a few awards, and been accepted on to lots of accelerators throughout our journey. We have also picked up some global accreditations, global clients, and been listed on many of the UK Government's most recognised procurement frameworks. Here's a recap of what we've been up to:

1. Revenues...
£1.73m overall revenues generated*
Consistent Year on Year ARR growth*

2. Sectors...
Government
Utilities
Transport
Financial Services
Leisure
Charities
Education

3. Partnerships...
Agilisys
8x8
Boxxe
Fujistu

4. Product...
Hired ex IBM 'master inventor' as Product Director
100% self serve sign up capability completed
Gartner Magic Quadrant NLP integration completed
DevOps work for infinite scaleability completed

5. Awards...
StartUp of the Year Winner (Welsh Start Up Awards)
Technology Start Up of the Year (Sir Michael Moritz Award)
Tech Nation Rising Stars Winner
Best Public Sector Automation Firm 2021
Top 5 Global utility chat bot platform

6. Accelerators...
Oracle Cloud Accelerator
Tech Nation Applied AI Accelerator
PwC Transport Scale Accelerator

7. Accreditations...
ISO27001
Cyber Essentials

8. Government Frameworks...
GCloud
SPARK
AI
Automation

9. Coverage...
Forbes
BBC
ITV
TechNation

Lots done already! But this is WBB's breakout year. We have recently won two global clients, proving we have the scalability and sector agnostic capabilities to deliver on the biggest stage. With our growth strategies now embedded, we believe WBB is primed to grow rapidly in coming years.

Monetisation strategy

We play in the B2B Enterprise SaaS space, with 90% of revenues coming from recurring product license fees.*

About 10% of our revenues come from professional service fees such as integration, support and training.*

Recent product work means we also have a low level entry product which is 100% self serve, and the revenues from this model are 100% license fee with no professional services or support fees.

There are significant upsell opportunities, and our typical enterprise licenses are 3 years in length. As yet we have had zero churn on our contracts of this length.

*based on unaudited management accounts

Use of proceeds

A breakdown of use of proceeds is below:

We have 2 big opportunities that will take some new product development for global organisations in the unified comms and utilities sectors. These developments were already in our roadmap but will need expediting to capitalise on these potentially huge opportunities - £50k

Direct sales and marketing for 12 months as we scale our SaaS sales across bottom, mid and top tier clients - £100k

Partner onboarding/ facilitation - £20k over 12 months

Quality Assurance/ Software Tester to ensure we scale with product stability - £50k p/a

Operational Expenses contribution (runway addition) - £80k

=£300k.

Key Information

The company has the following outstanding loans:

£48,000 bounce back loan at an interest rate of 8% per annum. The loan was taken out on the 6th of May 2020 and is to be repaid on a 'pay as you grow' scheme.

The funds raised from this investment round will not be used to repay these loans.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £7,501,052

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Seedrs nominee

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

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Payment options

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Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

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