Close

Jump to:

  • Navigation
  • Content
  • Footer

We Build Bots

Follow

AI-powered automation for the public sector. Chatbots, voice, & analytics that improve citizen services.

124%
 - 
Funded 6 Nov 2019
£250,000 target
£313,020 from 605 investors
More
Less

Business overview

Location Cardiff, United Kingdom
Social media
Website wbb.ai
Sectors SaaS/PaaS Digital B2B
Company number 10899737
Incorporation date 4 Aug 2017
More
Less

Investment summary

Type Equity
Valuation (pre-money) £3M
Equity offered 9.37%
Tax relief

EIS

  • Idea
  • Team
  • Updates
  • Investors 605
  • Discussion
  • Documents

Idea

Introduction

WBB is a GovTech company, creating multi-award winning, AI-Powered automation software for the public sector. Our core product, IntelAgent, is a cloud-based customer service platform combining bots, voice, AI, and analytics to help the public sector deliver better, faster, more efficient, customer care, and leverage the data they collect.

Why can't we pay our council tax as easily as we book a cab? Or report a missed bin collection as easily as we order take out? Having grown used to apps like Uber and Just Eat, we have rising expectations of our public service providers - but we're regularly frustrated by long telephone hold times, and rubbish websites. Well not anymore! Welcome, to We Build Bots.

GovTech is changing the way local and central governments engage with citizens. Increasingly, younger, smaller, entrepreneurial startups like us are disrupting the traditional models for delivering public services, offering more agility, creativity and innovation than traditional suppliers.

Intended impact

We started WBB having experienced first hand how repetitive, inefficient and frustrating customer service channels can be.

We are focused on the public sector for these reasons...

1) Continued budget cuts force public bodies to rethink how best to cost-effectively deliver public services. IntelAgent aims to help organisations deliver faster, cheaper, better customer services.
2) Citizens have rising expectations of their public service providers, having grown accustomed to the seamless experiences afforded by platforms like Uber, Just Eat and Monzo.
3) Falling technology prices allow smaller companies like us to deliver enterprise-level cloud-based, mobile & voice-first services.
4) National policies are increasingly seeing governments engagement with startups and SMEs.
5) Demographic shifts inside public administrations are bringing younger and more tech-savvy officials into departments.

We believe we can have a huge impact globally in this £350bn sector, and have already made good inroads.

Substantial accomplishments to date

We raised our seed round in June 2018, and have since achieved a number of commercial and technical milestones. These include:

Grown sales from £80,000 (recognised) in 2018 to £425,000 (recognised) so far in 2019, and £238,000 contracted (payable in years 2 and 3 of license period).*

Grown team from 3 to 11 across development, data, sales and marketing.
Secured GoCompare Co-Founder as NED (to be appointed after the fundraising closes).
Won 3 awards for innovation.
Developed and launched 2 new products - Tickit and Triage.
Developed sector-specific Natural Language Processing engine.
Secured coverage across major outlets including BBC, ITV and Forbes.
Deployed IntelAgent with 10 new enterprise clients.
Deployed IntelAgent with 7 public sector clients.
Deployed IntelAgent in 4 languages (English, Welsh, Dutch, Italian).
Launched a successful podcast focussed on public sector innovation.
Secured G Cloud 11 accreditation (streamlining public sector sales).
Processed 5m messages (affording us lots of data for future monetisation).

*based on unaudited management accounts

Post raise we intend to continue our penetration into the UK public sector, scale our sales, development, data and C-Suite teams further, close existing pipeline opportunities, and continue European and US market research to help establish a global footprint in the coming years.

Monetisation

There are currently two revenue streams for IntelAgent...

1) Build/deploy fees
These vary depending on the complexity of integration, and the number of services covered (eg waste collection, tax payments, social care, travel etc).
NB: An encouraging aspect of our revenue model is that we rarely have to 'reinvent the wheel' for each client, as our framework becomes increasingly reusable over time. That gradually reduces development time and costs.

2) 3-year license/support.
Access to the platform and ongoing tech support for a minimum of 3 years.

Our revenues are currently split 70:30 between deploy and license.

Our strategy is to reverse this ratio over the next 12 months by reducing deployment times (and costs), and subsequently increasing our license fees to build a strong recurring revenue model.

New product launches
We also plan to introduce Tickit and Triage to create new SaaS revenues over the next 24 months.

Use of proceeds

The investment will act as a bridge round to our Series A later in 2020.

Here is the approximate breakdown of the use of proceeds:

Additional recruitment fees and salaries for:
- 2 new developers.
- 1 new sales.
- 1 Business Analyst.
- Legal and deal fees for raise (plus contingency).
- Increase marketing, esp live events and PR to complement digital activities.

Open an account to get access to the team members of We Build Bots

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

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

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

Share on:

Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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.

  • About Seedrs
  • Our Team
  • Careers
  • Partnerships
  • Contact us

  • Invest
  • Raise
  • Referrals
  • Tax Relief
  • Types of Equity

  • Case Studies
  • Guides
  • Blog
  • Investor help centre
  • Entrepreneur help centre
  • Glossary
  • Feedback

  • Risk Warnings
  • Privacy Notice
  • Security
  • Terms of Service
  • Referral Fee Terms
  • Campaign Terms
  • Secondary Market Terms
  • AutoInvest Terms

Facebook Twitter LinkedIn Google Plus

For information on how Seedrs uses your personal data, please review our Privacy Notice.
Seedrs small logo

Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

Trustpilot rating
Trustpilot Stars

Trustpilot Logo

Company

  • About Seedrs
  • Our Team
  • Careers
  • Partnerships
  • Contact us

Get Started

  • Invest
  • Raise
  • Referrals
  • Tax Relief
  • Types of Equity

Learn

  • Case Studies
  • Guides
  • Blog
  • Investor help centre
  • Entrepreneur help centre
  • Glossary
  • Feedback

Legal Info

  • Risk Warnings
  • Privacy Notice
  • Security
  • Terms of Service
  • Referral Fee Terms
  • Campaign Terms
  • Secondary Market Terms
  • AutoInvest Terms

Get Social

Facebook Twitter LinkedIn Google Plus
For information on how Seedrs uses your personal data, please review our Privacy Notice.
Seedrs small logo

Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

Trustpilot rating
Trustpilot Stars

Trustpilot Logo
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.
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 rounded from £3,021,340

Pitch type

There are 4 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • 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.

Learn more about pitch type on Seedrs.