LogicDialog (by We Build Bots)
A no code platform making it easy for business to build powerful Generative Conversational AI Solutions.
- £2m+ contracted revenues*
- International clients across 10 verticals
- Multi award-winning
- Chat GPT-3 integrated
LogicDialog is a multi-award-winning Generative Conversational AI platform used in multiple sectors to boost employee productivity, improve customer service, reduce operational costs & increase profits.
Leveraging the latest Generative AI technologies like Chat GPT-3, LogicDialog is addressing two core business problems which combined cost businesses $12.5 trillion globally; low employee productivity, and poor customer service.
Having generated over £2m in total contracted revenues, we're on a mission to place Generative Conversational AI at the heart of every organisation regardless of size or sector.
We believe that LogicDialog's unique 'no code' interface & integration marketplace means businesses can easily build, integrate & launch multichannel, multilingual, multifunctional Generative Conversational AI solutions that automate tasks across Customer Care, HR, Sales, Marketing, IT Helpdesk & more.
We believe we can build a $billion business this decade by following the T2D3 principal.
Substantial accomplishments to date
With recent developments in Conversational AI (like Chat GPT) it's clear that we're past the 'hype' phase, and AI is starting to deliver!
We believe an early-stage company applying Generative Conversational AI at an enterprise level, (but isn't yet valued in the hundreds of millions) is a rare opportunity.
We are that company, and this is that opportunity!
Here's a recap of what we've been up to...
• £2m+ overall contracted revenues*
• Financial Services
• 8x8 NOTE: preferred conversational AI partner.
• Launched integration marketplace
• Hired ex IBM 'master inventor' as Product Director
• ChatGPT3 implementation
• Interface redesign
• Gartner Magic Quadrant NLP integration completed (RASA)
• StartUp of the Year Winner '18
• Technology Start Up of the Year (Sir Michael Moritz Award) '19
• Tech Nation Rising Stars Winner '20
• Best Public Sector Automation Firm 2021
• Top 5 Global utility chatbot platform 2021
• Tech Nation Applied AI Accelerator 2022
• PwC Transport Scale Accelerator 2022
• Listed by Sifted as one of Europe's top 150 generative AI firms - 2023
• Oracle Cloud Accelerator
• Tech Nation Applied AI Accelerator
• PwC Transport Scale Accelerator
• Cyber Essentials
Government Procurement Frameworks
Founder/ Company coverage
• Tech Crunch
LogicDialog is a B2B SaaS platform sold as an annual licence, with the average licence length being 3 years.
Licences are paid annually in advance, and in terms of recurring revenue vs straight revenue, the split is thus: c85% recurring licence revenue and c15% deployment fees.
We do plan to penetrate the SME market too with a pay-as-you-go monthly model with no commitment licence fees starting from £75 per month.
We aim for this to help us to compete with the likes of Intercom which offer self-serve products that command very little technical overhead from the vendor and can generate significant predictable revenues. We believe our product is ready for this lower-level market penetration and the strategy will complement our continued enterprise activity.
Use of proceeds
We're currently raising up to £1m at a £10m valuation.
Funds will be used primarily for sales and marketing, with some allocated to tech team growth, and some for working capital/ runway extension.
The raise will allow us to leverage the huge market appetite for Generative AI tools like ours, as well as deliver a number of partnership client opportunities (having recently been signed as 8x8Inc.'s preferred conversational AI partner).
It will also help us to faster close our significant pipeline, and finally penetrate the lucrative SME market.
In a time of increasing uncertainty, where job cuts are happening at the most seemingly robust of tech companies (Microsoft: 10,000, Amazon: 18,000, Salesforce: 7,000, Meta: 11,000, Twitter: 3,700), we're raising capital to grow the team, embrace the surging interest in Generative Conversational AI, and ensure we're well positioned to deliver for our partner network.
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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